Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its position in Archer-Daniels-Midland Company (NYSE:ADM) by 4.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,260 shares of the company’s stock after selling 4,809 shares during the quarter. Retirement Systems of Alabama’s holdings in Archer-Daniels-Midland were worth $6,228,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ADM. Harbor Capital Advisors Inc. purchased a new stake in Archer-Daniels-Midland during the 3rd quarter worth about $25,000. Ashton Thomas Securities LLC purchased a new stake in Archer-Daniels-Midland during the third quarter worth approximately $26,000. Altshuler Shaham Ltd acquired a new position in Archer-Daniels-Midland in the second quarter valued at approximately $28,000. Peterson Financial Group Inc. purchased a new position in Archer-Daniels-Midland in the third quarter valued at approximately $28,000. Finally, Sachetta LLC raised its holdings in Archer-Daniels-Midland by 39.8% during the second quarter. Sachetta LLC now owns 737 shares of the company’s stock worth $46,000 after purchasing an additional 210 shares in the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ADM shares. BMO Capital Markets lowered their target price on shares of Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating for the company in a report on Wednesday, December 4th. Citigroup raised their price objective on Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. UBS Group boosted their price objective on Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Barclays cut their target price on shares of Archer-Daniels-Midland from $60.00 to $56.00 and set an “underweight” rating on the stock in a report on Wednesday, December 4th. Finally, Morgan Stanley decreased their price target on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.62.

Archer-Daniels-Midland Trading Down 3.2 %

Shares of ADM opened at $49.85 on Thursday. Archer-Daniels-Midland Company has a twelve month low of $48.92 and a twelve month high of $74.17. The company has a current ratio of 1.40, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $23.85 billion, a P/E ratio of 14.24 and a beta of 0.72. The firm’s 50-day moving average is $54.10 and its two-hundred day moving average is $58.45.

Archer-Daniels-Midland announced that its board has authorized a stock buyback plan on Wednesday, December 11th that permits the company to repurchase 100,000,000 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Archer-Daniels-Midland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.01%. The ex-dividend date was Thursday, November 21st. Archer-Daniels-Midland’s payout ratio is currently 57.14%.

Archer-Daniels-Midland Profile

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.