Cambridge Financial Group Inc. trimmed its position in Archer Daniels Midland Co (NYSE:ADM) by 0.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,058 shares of the company’s stock after selling 895 shares during the period. Archer Daniels Midland makes up about 3.2% of Cambridge Financial Group Inc.’s portfolio, making the stock its 21st largest holding. Cambridge Financial Group Inc.’s holdings in Archer Daniels Midland were worth $4,751,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cigna Investments Inc. New lifted its position in Archer Daniels Midland by 6.1% in the first quarter. Cigna Investments Inc. New now owns 15,548 shares of the company’s stock worth $547,000 after purchasing an additional 900 shares during the period. Blair William & Co. IL lifted its position in Archer Daniels Midland by 25.6% in the first quarter. Blair William & Co. IL now owns 93,305 shares of the company’s stock worth $3,282,000 after purchasing an additional 19,042 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Archer Daniels Midland by 19.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 235,482 shares of the company’s stock worth $8,284,000 after purchasing an additional 38,934 shares during the period. National Asset Management Inc. acquired a new stake in Archer Daniels Midland in the first quarter worth approximately $976,000. Finally, Royal Fund Management LLC acquired a new stake in Archer Daniels Midland in the first quarter worth approximately $47,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.
In related news, Director Pierre Dufour purchased 1,070 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of $35.20 per share, with a total value of $37,664.00. Following the completion of the purchase, the director now owns 7,700 shares of the company’s stock, valued at approximately $271,040. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Francisco J. Sanchez purchased 1,370 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was bought at an average cost of $36.95 per share, for a total transaction of $50,621.50. Following the completion of the purchase, the director now directly owns 4,370 shares of the company’s stock, valued at approximately $161,471.50. The disclosure for this purchase can be found here. 1.27% of the stock is owned by insiders.
Archer Daniels Midland (NYSE:ADM) last announced its earnings results on Wednesday, April 29th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. Archer Daniels Midland had a net margin of 2.39% and a return on equity of 10.15%. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.71 billion. During the same period in the previous year, the business earned $0.46 EPS. The company’s revenue was down 2.2% on a year-over-year basis. Research analysts predict that Archer Daniels Midland Co will post 2.91 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Tuesday, May 19th. Archer Daniels Midland’s dividend payout ratio (DPR) is currently 44.44%.
Several research analysts have issued reports on ADM shares. Morgan Stanley dropped their price target on Archer Daniels Midland from $47.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, March 30th. Credit Suisse Group dropped their price target on Archer Daniels Midland from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. ValuEngine cut Archer Daniels Midland from a “hold” rating to a “sell” rating in a report on Monday, April 27th. Robert W. Baird upped their price target on Archer Daniels Midland from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Finally, Monness Crespi & Hardt raised Archer Daniels Midland from a “sell” rating to a “neutral” rating and set a $38.00 price target on the stock in a report on Monday, March 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Archer Daniels Midland currently has a consensus rating of “Hold” and an average price target of $43.13.
About Archer Daniels Midland
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. The company operates through four segments: Origination, Oilseeds, Carbohydrate Solutions, and Nutrition. It buys, stores, cleans, and transports agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, as well as resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry.
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