Archer-Daniels-Midland (NYSE:ADM) Shares Gap Down Following Weak Earnings

Archer-Daniels-Midland Company (NYSE:ADM) shares gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $63.30, but opened at $61.00. Archer-Daniels-Midland shares last traded at $61.13, with a volume of 1,112,862 shares trading hands.

The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.19). The firm had revenue of $22.25 billion during the quarter, compared to the consensus estimate of $23.12 billion. Archer-Daniels-Midland had a return on equity of 12.06% and a net margin of 2.93%. The firm’s revenue was down 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 EPS.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ADM shares. JPMorgan Chase & Co. lifted their price target on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday. Citigroup lowered their target price on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $66.79.

Insider Activity

In other news, insider Fruit Molly L. Strader sold 6,904 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $60.73, for a total value of $419,279.92. Following the transaction, the insider now directly owns 8,555 shares in the company, valued at approximately $519,545.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Archer-Daniels-Midland

A number of institutional investors and hedge funds have recently made changes to their positions in ADM. CIBC Asset Management Inc grew its position in shares of Archer-Daniels-Midland by 4.9% during the 2nd quarter. CIBC Asset Management Inc now owns 80,243 shares of the company’s stock valued at $4,851,000 after acquiring an additional 3,765 shares during the period. Natixis Advisors LLC lifted its position in Archer-Daniels-Midland by 12.2% during the second quarter. Natixis Advisors LLC now owns 178,631 shares of the company’s stock valued at $10,798,000 after purchasing an additional 19,424 shares in the last quarter. Fielder Capital Group LLC grew its holdings in Archer-Daniels-Midland by 7.1% during the second quarter. Fielder Capital Group LLC now owns 8,257 shares of the company’s stock valued at $499,000 after purchasing an additional 550 shares during the period. Aptus Capital Advisors LLC purchased a new stake in Archer-Daniels-Midland in the second quarter worth about $202,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Archer-Daniels-Midland by 85.6% in the second quarter. Farther Finance Advisors LLC now owns 13,971 shares of the company’s stock worth $847,000 after buying an additional 6,442 shares during the period. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Trading Down 2.5 %

The stock has a 50-day moving average price of $61.98 and a two-hundred day moving average price of $59.90. The stock has a market capitalization of $29.90 billion, a PE ratio of 10.61 and a beta of 0.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 4.58.

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.