Pacer Advisors Inc. Purchases 489,554 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Pacer Advisors Inc. increased its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 6.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,086,446 shares of the company’s stock after purchasing an additional 489,554 shares during the quarter. Archer-Daniels-Midland accounts for about 1.0% of Pacer Advisors Inc.’s investment portfolio, making the stock its 17th largest holding. Pacer Advisors Inc.’s holdings in Archer-Daniels-Midland were worth $483,084,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. John G Ullman & Associates Inc. bought a new position in shares of Archer-Daniels-Midland in the 3rd quarter valued at about $269,000. Intech Investment Management LLC grew its holdings in Archer-Daniels-Midland by 10.4% during the 3rd quarter. Intech Investment Management LLC now owns 19,110 shares of the company’s stock worth $1,142,000 after acquiring an additional 1,807 shares during the period. Cornerstone Advisors LLC raised its position in shares of Archer-Daniels-Midland by 4.3% during the 3rd quarter. Cornerstone Advisors LLC now owns 19,300 shares of the company’s stock valued at $1,153,000 after acquiring an additional 800 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Archer-Daniels-Midland by 32.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 14,681 shares of the company’s stock worth $877,000 after purchasing an additional 3,577 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Archer-Daniels-Midland during the third quarter worth $699,000. Institutional investors own 78.28% of the company’s stock.

Insider Buying and Selling

In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 170,194 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $60.51, for a total value of $10,298,438.94. Following the completion of the sale, the chief executive officer now owns 265,210 shares in the company, valued at $16,047,857.10. This trade represents a 39.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 219,348 shares of company stock worth $13,296,833. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group raised their target price on Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. JPMorgan Chase & Co. upped their target price on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley decreased their price target on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.83.

Archer-Daniels-Midland Stock Performance

Shares of ADM stock opened at $53.53 on Thursday. The firm has a market cap of $25.61 billion, a PE ratio of 15.29 and a beta of 0.73. Archer-Daniels-Midland Company has a 12 month low of $48.92 and a 12 month high of $77.35. The company’s fifty day simple moving average is $56.87 and its 200-day simple moving average is $59.64. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 0.34.

Archer-Daniels-Midland Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Thursday, November 21st. Archer-Daniels-Midland’s dividend payout ratio is currently 57.14%.

About Archer-Daniels-Midland

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.