Bank of America Corp DE Sells 658,111 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Bank of America Corp DE decreased its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 25.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,910,721 shares of the company’s stock after selling 658,111 shares during the period. Bank of America Corp DE’s holdings in Archer-Daniels-Midland were worth $96,530,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ADM. Fairway Wealth LLC bought a new stake in Archer-Daniels-Midland during the fourth quarter valued at $25,000. Raleigh Capital Management Inc. boosted its position in Archer-Daniels-Midland by 179.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 556 shares of the company’s stock valued at $28,000 after acquiring an additional 357 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in Archer-Daniels-Midland during the fourth quarter valued at $28,000. ST Germain D J Co. Inc. boosted its position in shares of Archer-Daniels-Midland by 724.6% during the 4th quarter. ST Germain D J Co. Inc. now owns 569 shares of the company’s stock worth $29,000 after purchasing an additional 500 shares in the last quarter. Finally, Crews Bank & Trust bought a new position in shares of Archer-Daniels-Midland during the 4th quarter worth about $30,000. Institutional investors own 78.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Stephens cut their price objective on shares of Archer-Daniels-Midland from $55.00 to $52.00 in a research report on Tuesday, February 4th. Citigroup cut their price objective on shares of Archer-Daniels-Midland from $51.00 to $49.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley lowered their target price on shares of Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Barclays lowered their target price on shares of Archer-Daniels-Midland from $50.00 to $48.00 and set an “underweight” rating on the stock in a report on Monday, February 24th. Finally, Bank of America lowered shares of Archer-Daniels-Midland from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $47.00 to $45.00 in a report on Thursday. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, Archer-Daniels-Midland currently has an average rating of “Hold” and a consensus target price of $52.50.

Archer-Daniels-Midland Trading Up 1.8%

NYSE:ADM opened at $48.55 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.39. The firm has a market cap of $23.33 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.54 and a beta of 0.69. Archer-Daniels-Midland Company has a 52 week low of $40.98 and a 52 week high of $66.08. The firm has a 50-day moving average price of $47.01 and a two-hundred day moving average price of $49.49.

Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Archer-Daniels-Midland had a net margin of 2.10% and a return on equity of 10.44%. The firm had revenue of $20.18 billion during the quarter, compared to analyst estimates of $22.05 billion. During the same quarter last year, the business posted $1.46 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, equities analysts expect that Archer-Daniels-Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Wednesday, May 21st. Archer-Daniels-Midland’s dividend payout ratio is currently 72.86%.

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.