Allen Mooney & Barnes Investment Advisors LLC Decreases Stake in Archer-Daniels-Midland Company (NYSE:ADM)

Allen Mooney & Barnes Investment Advisors LLC cut its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 12.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,681 shares of the company’s stock after selling 3,293 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Archer-Daniels-Midland were worth $1,146,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Lake Street Advisors Group LLC increased its holdings in shares of Archer-Daniels-Midland by 4.8% in the third quarter. Lake Street Advisors Group LLC now owns 4,015 shares of the company’s stock valued at $240,000 after purchasing an additional 183 shares during the period. OLD National Bancorp IN increased its holdings in Archer-Daniels-Midland by 0.9% in the 3rd quarter. OLD National Bancorp IN now owns 20,648 shares of the company’s stock worth $1,234,000 after buying an additional 189 shares during the period. UMB Bank n.a. raised its position in Archer-Daniels-Midland by 3.4% during the 3rd quarter. UMB Bank n.a. now owns 5,830 shares of the company’s stock worth $348,000 after buying an additional 194 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its stake in Archer-Daniels-Midland by 4.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 5,125 shares of the company’s stock valued at $306,000 after acquiring an additional 201 shares during the period. Finally, Atomi Financial Group Inc. boosted its holdings in shares of Archer-Daniels-Midland by 3.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 6,591 shares of the company’s stock valued at $394,000 after acquiring an additional 210 shares during the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

Archer-Daniels-Midland Price Performance

ADM stock opened at $51.26 on Wednesday. The business has a 50 day simple moving average of $51.82 and a 200-day simple moving average of $57.02. The company has a market capitalization of $24.53 billion, a P/E ratio of 14.65 and a beta of 0.72. Archer-Daniels-Midland Company has a twelve month low of $48.40 and a twelve month high of $69.85. The company has a current ratio of 1.40, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34.

Archer-Daniels-Midland announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that authorizes the company to buyback 100,000,000 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Archer-Daniels-Midland Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were paid a $0.50 dividend. The ex-dividend date was Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a yield of 3.90%. Archer-Daniels-Midland’s dividend payout ratio is presently 57.14%.

Analyst Ratings Changes

ADM has been the subject of a number of research reports. Citigroup boosted their target price on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. BMO Capital Markets decreased their price objective on 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. Stephens started coverage on Archer-Daniels-Midland in a report on Wednesday, December 11th. They set an “equal weight” rating and a $55.00 target price on the stock. Morgan Stanley decreased their price target on Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. Finally, Barclays cut their target price on shares of Archer-Daniels-Midland from $60.00 to $56.00 and set an “underweight” rating for the company in a report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $59.08.

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.