Cornerstone Advisors LLC Increases Stock Position in Archer-Daniels-Midland Company (NYSE:ADM)

Cornerstone Advisors LLC grew its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,300 shares of the company’s stock after buying an additional 800 shares during the quarter. Cornerstone Advisors LLC’s holdings in Archer-Daniels-Midland were worth $1,153,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new stake in Archer-Daniels-Midland in the 3rd quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in Archer-Daniels-Midland in the third quarter worth $26,000. Riverview Trust Co bought a new stake in Archer-Daniels-Midland in the second quarter valued at $27,000. Altshuler Shaham Ltd bought a new position in Archer-Daniels-Midland in the 2nd quarter worth $28,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Archer-Daniels-Midland in the 3rd quarter worth about $28,000. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Archer-Daniels-Midland Stock Up 0.2 %

Shares of Archer-Daniels-Midland stock opened at $53.15 on Friday. The company has a 50-day simple moving average of $56.74 and a two-hundred day simple moving average of $59.60. Archer-Daniels-Midland Company has a 52-week low of $48.92 and a 52-week high of $77.35. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.40. The stock has a market capitalization of $25.43 billion, a PE ratio of 15.19 and a beta of 0.73.

Archer-Daniels-Midland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Thursday, November 21st. Archer-Daniels-Midland’s payout ratio is 57.14%.

Insider Activity at Archer-Daniels-Midland

In other news, CEO Juan R. Luciano sold 170,194 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $60.51, for a total transaction of $10,298,438.94. Following the sale, the chief executive officer now owns 265,210 shares of the company’s stock, valued at $16,047,857.10. This trade represents a 39.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 219,348 shares of company stock valued at $13,296,833 over the last ninety days. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

ADM has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted 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, July 31st. Morgan Stanley decreased 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 report on Tuesday, November 12th. Finally, UBS Group upped their price target on Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $62.83.

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.