State Farm Mutual Automobile Insurance Co. maintained its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) during the second quarter, according to the company in its most recent filing with the SEC. The firm owned 56,294,742 shares of the company’s stock at the close of the second quarter. Archer-Daniels-Midland accounts for 3.2% of State Farm Mutual Automobile Insurance Co.’s portfolio, making the stock its 7th biggest position. State Farm Mutual Automobile Insurance Co. owned 10.01% of Archer-Daniels-Midland worth $2,329,476,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Hussman Strategic Advisors Inc. bought a new stake in Archer-Daniels-Midland during the first quarter worth about $6,906,000. State Treasurer State of Michigan acquired a new position in shares of Archer-Daniels-Midland during the first quarter worth approximately $8,637,000. Tyers Asset Management LLC lifted its position in shares of Archer-Daniels-Midland by 49.8% during the first quarter. Tyers Asset Management LLC now owns 255,052 shares of the company’s stock worth $11,743,000 after purchasing an additional 84,784 shares in the last quarter. SignalPoint Asset Management LLC acquired a new position in shares of Archer-Daniels-Midland during the first quarter worth approximately $715,000. Finally, Reinhart Partners Inc. lifted its position in shares of Archer-Daniels-Midland by 2.4% during the first quarter. Reinhart Partners Inc. now owns 452,582 shares of the company’s stock worth $20,837,000 after purchasing an additional 10,770 shares in the last quarter. 72.86% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on ADM. Robert W. Baird started coverage on shares of Archer-Daniels-Midland in a research report on Monday. They set an “outperform” rating and a $50.00 target price on the stock. Credit Suisse Group cut their price objective on shares of Archer-Daniels-Midland from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, August 31st. Piper Jaffray Companies set a $42.00 price objective on shares of Archer-Daniels-Midland and gave the company a “hold” rating in a report on Friday, August 25th. BidaskClub raised shares of Archer-Daniels-Midland from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Finally, Zacks Investment Research raised shares of Archer-Daniels-Midland from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Archer-Daniels-Midland currently has a consensus rating of “Hold” and an average price target of $44.22.
Archer-Daniels-Midland Company (ADM) traded up 0.334% on Friday, reaching $43.595. 1,983,098 shares of the company were exchanged. The stock has a market capitalization of $24.52 billion, a P/E ratio of 18.433 and a beta of 1.11. The company’s 50-day moving average price is $42.15 and its 200-day moving average price is $42.96. Archer-Daniels-Midland Company has a 12-month low of $40.22 and a 12-month high of $47.88.
Archer-Daniels-Midland (NYSE:ADM) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. The company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $15.86 billion. Archer-Daniels-Midland had a return on equity of 8.40% and a net margin of 2.22%. Archer-Daniels-Midland’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS. Equities research analysts anticipate that Archer-Daniels-Midland Company will post $2.60 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Thursday, August 17th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, August 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.95%. Archer-Daniels-Midland’s payout ratio is currently 53.78%.
Archer-Daniels-Midland Company Profile
Receive News & Ratings for Archer-Daniels-Midland Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer-Daniels-Midland Company and related companies with our FREE daily email newsletter.