Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by Summit Global Investments

Summit Global Investments lessened its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 85.7% during the fourth quarter, Holdings Channel reports. The firm owned 31,571 shares of the company’s stock after selling 188,805 shares during the period. Summit Global Investments’ holdings in Archer-Daniels-Midland were worth $2,280,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in Archer-Daniels-Midland during the 3rd quarter worth approximately $28,000. Tompkins Financial Corp acquired a new stake in shares of Archer-Daniels-Midland in the third quarter worth $28,000. Legacy Financial Group LLC purchased a new position in shares of Archer-Daniels-Midland in the 3rd quarter valued at $30,000. Operose Advisors LLC acquired a new position in shares of Archer-Daniels-Midland during the 3rd quarter valued at $30,000. Finally, Strengthening Families & Communities LLC boosted its position in Archer-Daniels-Midland by 37.3% during the 3rd quarter. Strengthening Families & Communities LLC now owns 641 shares of the company’s stock worth $48,000 after purchasing an additional 174 shares during the period. 78.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADM has been the topic of a number of recent research reports. UBS Group restated a “neutral” rating and set a $51.00 price objective (down previously from $104.00) on shares of Archer-Daniels-Midland in a research note on Friday, January 26th. StockNews.com downgraded shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Bank of America dropped their price objective on shares of Archer-Daniels-Midland from $85.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. Argus lowered shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Finally, 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 on the stock in a report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.50.

Archer-Daniels-Midland Stock Performance

Shares of ADM traded down $0.16 during mid-day trading on Friday, hitting $59.19. The stock had a trading volume of 3,273,847 shares, compared to its average volume of 5,830,189. Archer-Daniels-Midland Company has a fifty-two week low of $50.72 and a fifty-two week high of $87.30. The company has a quick ratio of 0.95, a current ratio of 1.47 and a debt-to-equity ratio of 0.35. The company has a market cap of $29.27 billion, a PE ratio of 10.38 and a beta of 0.78. The company’s fifty day simple moving average is $59.52 and its two-hundred day simple moving average is $64.85.

Archer-Daniels-Midland (NYSE:ADM) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.46 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $22.26 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. The firm’s revenue was down 9.2% on a year-over-year basis. On average, equities analysts expect that Archer-Daniels-Midland Company will post 5.48 earnings per share for the current year.

Archer-Daniels-Midland Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 3.38%. Archer-Daniels-Midland’s dividend payout ratio is currently 35.09%.

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

Archer-Daniels-Midland Company 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.