Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by Assetmark Inc.

Assetmark Inc. reduced its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 86.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 114,146 shares of the company’s stock after selling 703,864 shares during the period. Assetmark Inc.’s holdings in Archer-Daniels-Midland were worth $8,244,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ADM. WealthPlan Investment Management LLC lifted its holdings in Archer-Daniels-Midland by 46.6% in the third quarter. WealthPlan Investment Management LLC now owns 118,650 shares of the company’s stock valued at $8,949,000 after acquiring an additional 37,696 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Archer-Daniels-Midland by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 682,035 shares of the company’s stock valued at $51,439,000 after purchasing an additional 7,990 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Archer-Daniels-Midland by 14.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 461,050 shares of the company’s stock worth $34,772,000 after buying an additional 58,455 shares in the last quarter. Corient Private Wealth LLC grew its position in Archer-Daniels-Midland by 1.0% during the third quarter. Corient Private Wealth LLC now owns 198,050 shares of the company’s stock valued at $14,935,000 after buying an additional 1,896 shares during the period. Finally, Signaturefd LLC increased its holdings in Archer-Daniels-Midland by 2.5% in the third quarter. Signaturefd LLC now owns 17,868 shares of the company’s stock valued at $1,348,000 after buying an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Stock Performance

NYSE ADM opened at $61.88 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.88 and a current ratio of 1.47. The stock’s fifty day moving average is $61.52 and its two-hundred day moving average is $63.73. The firm has a market capitalization of $30.60 billion, a P/E ratio of 10.86 and a beta of 0.78. Archer-Daniels-Midland Company has a fifty-two week low of $50.72 and a fifty-two week high of $87.30.

Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $22.26 billion. During the same quarter in the previous year, the company posted $2.09 EPS. The company’s revenue was down 9.2% compared to the same quarter last year. On average, research analysts anticipate that Archer-Daniels-Midland Company will post 5.6 earnings per share for the current year.

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

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 given a $0.50 dividend. The ex-dividend date of this dividend is 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 is currently 35.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ADM shares. Bank of America dropped their target price on Archer-Daniels-Midland from $85.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. Citigroup boosted their price objective on Archer-Daniels-Midland from $63.00 to $64.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. UBS Group reiterated a “neutral” rating and set a $51.00 target price (down previously from $104.00) on shares of Archer-Daniels-Midland in a research report on Friday, January 26th. TheStreet lowered shares of Archer-Daniels-Midland from a “b-” rating to a “c+” rating in a report on Monday, February 12th. Finally, Jefferies Financial Group decreased their price objective on shares of Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” 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 given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $67.50.

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.