State of Michigan Retirement System Acquires 8,900 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

State of Michigan Retirement System lifted its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,441 shares of the company’s stock after purchasing an additional 8,900 shares during the quarter. State of Michigan Retirement System’s holdings in Archer-Daniels-Midland were worth $8,409,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Silver Coast Investments LLC boosted its stake in shares of Archer-Daniels-Midland by 4.4% during the 4th quarter. Silver Coast Investments LLC now owns 5,608 shares of the company’s stock worth $283,000 after buying an additional 235 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Archer-Daniels-Midland in the 4th quarter valued at about $850,000. Jones Financial Companies Lllp lifted its position in shares of Archer-Daniels-Midland by 72.6% in the fourth quarter. Jones Financial Companies Lllp now owns 12,037 shares of the company’s stock valued at $608,000 after buying an additional 5,065 shares during the last quarter. Hickory Point Bank & Trust acquired a new stake in Archer-Daniels-Midland during the 4th quarter valued at $1,217,000. Finally, Sherman Asset Management Inc. bought a new stake in shares of Archer-Daniels-Midland during the 4th quarter worth about $47,000. Institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Trading Down 0.0 %

Shares of ADM stock opened at $45.82 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.39. Archer-Daniels-Midland Company has a fifty-two week low of $44.92 and a fifty-two week high of $66.08. The company has a market cap of $21.98 billion, a PE ratio of 12.69, a P/E/G ratio of 1.54 and a beta of 0.67. The stock’s fifty day moving average price is $48.90 and its two-hundred day moving average price is $53.69.

Archer-Daniels-Midland (NYSE:ADM) last released its earnings results on Tuesday, February 4th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. The firm had revenue of $21.50 billion for the quarter, compared to analysts’ expectations of $22.77 billion. Archer-Daniels-Midland had a return on equity of 10.44% and a net margin of 2.10%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.36 earnings per share. Equities analysts predict that Archer-Daniels-Midland Company will post 4.31 EPS for the current fiscal year.

Archer-Daniels-Midland declared that its Board of Directors has approved a share buyback plan on Wednesday, December 11th that permits the company to repurchase 100,000,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Archer-Daniels-Midland Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be given a $0.51 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.04 dividend on an annualized basis and a yield of 4.45%. This is a positive change from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. Archer-Daniels-Midland’s dividend payout ratio (DPR) is currently 56.51%.

Analyst Ratings Changes

A number of brokerages have commented on ADM. Citigroup upped their price objective on Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Bank of America decreased their target price on shares of Archer-Daniels-Midland from $54.00 to $48.00 and set an “underperform” rating on the stock in a research report on Tuesday, February 11th. Barclays dropped their price target on shares of Archer-Daniels-Midland from $50.00 to $48.00 and set an “underweight” rating for the company in a research report on Monday, February 24th. BMO Capital Markets reduced their price target on Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Finally, Stephens dropped their price objective on Archer-Daniels-Midland from $55.00 to $52.00 in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, Archer-Daniels-Midland presently has a consensus rating of “Hold” and a consensus price target of $54.89.

Archer-Daniels-Midland 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.