Archer-Daniels-Midland Company (NYSE:ADM) Stake Boosted by Exeter Financial LLC

Exeter Financial LLC grew its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 7.7% in the first quarter, Holdings Channel reports. The institutional investor owned 24,460 shares of the company’s stock after purchasing an additional 1,744 shares during the period. Exeter Financial LLC’s holdings in Archer-Daniels-Midland were worth $1,547,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new stake in shares of Archer-Daniels-Midland during the third quarter worth $28,000. Tompkins Financial Corp acquired a new position in Archer-Daniels-Midland during the third quarter worth $28,000. Operose Advisors LLC acquired a new stake in Archer-Daniels-Midland in the 3rd quarter valued at $30,000. EdgeRock Capital LLC bought a new stake in Archer-Daniels-Midland during the 4th quarter worth about $35,000. Finally, Sachetta LLC bought a new position in shares of Archer-Daniels-Midland in the 4th quarter valued at about $38,000. 78.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on ADM shares. Jefferies Financial Group reduced their price target on 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. Citigroup lifted their target price on shares of Archer-Daniels-Midland from $63.00 to $64.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Bank of America dropped their price target on 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. Finally, BMO Capital Markets reduced their price target on shares of Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating for the company in a report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company. Based on data from MarketBeat, Archer-Daniels-Midland presently has an average rating of “Hold” and an average target price of $67.50.

Archer-Daniels-Midland Trading Down 0.3 %

Shares of ADM traded down $0.18 during mid-day trading on Thursday, reaching $60.49. The company’s stock had a trading volume of 488,415 shares, compared to its average volume of 5,301,510. Archer-Daniels-Midland Company has a 52 week low of $50.72 and a 52 week high of $87.30. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.35. The company’s fifty day moving average price is $61.01 and its two-hundred day moving average price is $61.52. The stock has a market cap of $29.91 billion, a PE ratio of 10.69 and a beta of 0.75.

Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.46 earnings per share (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 company had revenue of $21.85 billion for the quarter, compared to the consensus estimate of $22.26 billion. During the same quarter last year, the firm posted $2.09 earnings per share. The firm’s revenue was down 9.2% compared to the same quarter last year. On average, analysts predict that Archer-Daniels-Midland Company will post 5.62 earnings per share for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

The business also recently declared 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 was Wednesday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 3.31%. Archer-Daniels-Midland’s payout ratio is 35.09%.

Archer-Daniels-Midland declared that its board has approved a stock buyback program on Tuesday, March 12th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity 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 dated Wednesday, May 22nd. The shares were sold at an average price of $60.73, for a total value of $419,279.92. Following the completion of the sale, the insider now owns 8,555 shares in the company, valued at approximately $519,545.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by insiders.

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.