Clearbridge Investments LLC Sells 30,890 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Clearbridge Investments LLC lessened its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 45.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,650 shares of the company’s stock after selling 30,890 shares during the period. Clearbridge Investments LLC’s holdings in Archer-Daniels-Midland were worth $2,302,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cherry Tree Wealth Management LLC purchased a new stake in Archer-Daniels-Midland during the 1st quarter valued at $27,000. Rise Advisors LLC purchased a new stake in Archer-Daniels-Midland during the 1st quarter valued at $34,000. BOK Financial Private Wealth Inc. purchased a new stake in Archer-Daniels-Midland during the 1st quarter valued at $34,000. EdgeRock Capital LLC purchased a new stake in Archer-Daniels-Midland during the 4th quarter valued at $35,000. Finally, Sachetta LLC purchased a new stake in Archer-Daniels-Midland during the 4th quarter valued at $38,000. Institutional investors own 78.28% of the company’s stock.

Insider Activity

In other Archer-Daniels-Midland news, insider Fruit Molly L. Strader sold 6,904 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $60.73, for a total value of $419,279.92. Following the sale, the insider now directly owns 8,555 shares of the company’s stock, valued at $519,545.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Archer-Daniels-Midland Stock Performance

Archer-Daniels-Midland stock traded up $0.55 during trading on Thursday, reaching $63.20. The company had a trading volume of 151,436 shares, compared to its average volume of 5,028,361. Archer-Daniels-Midland Company has a 52 week low of $50.72 and a 52 week high of $87.30. The firm’s 50-day simple moving average is $61.83 and its 200 day simple moving average is $60.14. The firm has a market capitalization of $31.25 billion, a price-to-earnings ratio of 10.99 and a beta of 0.74. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.35.

Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. The business had revenue of $21.85 billion for the quarter, compared to analysts’ expectations of $22.26 billion. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. The business’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period last year, the firm earned $2.09 earnings per share. Sell-side analysts forecast that Archer-Daniels-Midland Company will post 5.56 earnings per share for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Wednesday, May 15th. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 35.09%.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered their price target on Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. One analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. According to MarketBeat, Archer-Daniels-Midland currently has an average rating of “Hold” and a consensus target price of $67.43.

About Archer-Daniels-Midland

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.