Archer-Daniels-Midland (NYSE:ADM) Reaches New 52-Week Low – Here’s What Happened

Archer-Daniels-Midland Company (NYSE:ADM) shares hit a new 52-week low on Wednesday . The company traded as low as $48.77 and last traded at $48.78, with a volume of 177970 shares changing hands. The stock had previously closed at $49.43.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ADM. Morgan Stanley reduced their target price on 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. Stephens began coverage on Archer-Daniels-Midland in a research note on Wednesday, December 11th. They issued an “equal weight” rating and a $55.00 price objective for the company. BMO Capital Markets dropped their target price on Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating on the stock in a research report on Wednesday, December 4th. Citigroup raised their price target on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Barclays dropped their price objective 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. One investment analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.62.

Archer-Daniels-Midland Price Performance

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 stock has a 50-day moving average price of $52.19 and a 200 day moving average price of $57.37. The stock has a market capitalization of $23.47 billion, a price-to-earnings ratio of 14.01 and a beta of 0.72.

Archer-Daniels-Midland Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Thursday, November 21st. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 57.14%.

Archer-Daniels-Midland declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 11th that allows the company to buyback 100,000,000 outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Archer-Daniels-Midland

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADM. Harbor Capital Advisors Inc. acquired a new stake in shares of Archer-Daniels-Midland in the third quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Archer-Daniels-Midland during the 3rd quarter worth about $26,000. Altshuler Shaham Ltd acquired a new stake in Archer-Daniels-Midland in the 2nd quarter worth about $28,000. Peterson Financial Group Inc. purchased a new stake in Archer-Daniels-Midland during the 3rd quarter worth approximately $28,000. Finally, Sachetta LLC raised its holdings in shares of Archer-Daniels-Midland by 39.8% during the second quarter. Sachetta LLC now owns 737 shares of the company’s stock valued at $46,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Company 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.