State of Tennessee Treasury Department Lowers Position in Archer-Daniels-Midland Company (NYSE:ADM)

State of Tennessee Treasury Department lowered its stake in shares of Archer-Daniels-Midland Company (NYSE:ADMFree Report) by 20.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 336,218 shares of the company’s stock after selling 87,396 shares during the period. State of Tennessee Treasury Department owned about 0.06% of Archer-Daniels-Midland worth $24,282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ADM. Orion Capital Management LLC purchased a new stake in Archer-Daniels-Midland during the third quarter worth about $28,000. Tompkins Financial Corp purchased a new stake in Archer-Daniels-Midland during the third quarter worth about $28,000. Operose Advisors LLC purchased a new stake in shares of Archer-Daniels-Midland in the third quarter valued at about $30,000. EdgeRock Capital LLC purchased a new stake in shares of Archer-Daniels-Midland in the fourth quarter valued at about $35,000. Finally, Sachetta LLC purchased a new stake in shares of Archer-Daniels-Midland in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Bank of America cut their price objective on shares of Archer-Daniels-Midland from $85.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, March 14th. BMO Capital Markets cut their price objective on shares of Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating for the company in a research report on Wednesday, March 13th. Citigroup upped their price target on shares of Archer-Daniels-Midland from $63.00 to $64.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Jefferies Financial Group dropped their price target on shares of Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating for the company in a research report on Wednesday, March 13th. Finally, TheStreet lowered shares of Archer-Daniels-Midland from a “b-” rating to a “c+” rating in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $67.50.

Get Our Latest Report on ADM

Insider Buying and Selling at Archer-Daniels-Midland

In other Archer-Daniels-Midland news, insider Fruit Molly L. Strader sold 6,904 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $60.73, for a total transaction of $419,279.92. Following the transaction, the insider now directly owns 8,555 shares in the company, valued at approximately $519,545.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

Archer-Daniels-Midland Price Performance

Shares of ADM stock opened at $61.97 on Tuesday. The company has a market capitalization of $30.64 billion, a PE ratio of 10.87 and a beta of 0.75. The firm has a fifty day simple moving average of $61.41 and a 200-day simple moving average of $62.55. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.35. Archer-Daniels-Midland Company has a twelve month low of $50.72 and a twelve month high of $87.30.

Archer-Daniels-Midland (NYSE:ADMGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. Archer-Daniels-Midland had a net margin of 3.32% and a return on equity of 13.87%. The firm had revenue of $21.85 billion for the quarter, compared to the consensus estimate of $22.26 billion. During the same period in the prior year, the firm posted $2.09 EPS. The firm’s revenue was down 9.2% compared to the same quarter last year. Equities research analysts anticipate that Archer-Daniels-Midland Company will post 5.61 earnings per share for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 3.23%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is 35.09%.

Archer-Daniels-Midland announced that its Board of Directors has authorized a share buyback program on Tuesday, March 12th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Archer-Daniels-Midland Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Archer-Daniels-Midland (NYSE:ADM)

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