West Tower Group LLC Takes Position in Archer-Daniels-Midland Company (NYSE:ADM)

West Tower Group LLC acquired a new stake in Archer-Daniels-Midland Company (NYSE:ADM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,600 shares of the company’s stock, valued at approximately $275,000.

Several other hedge funds also recently modified their holdings of the business. Bank of Montreal Can boosted its position in shares of Archer-Daniels-Midland by 8.6% in the third quarter. Bank of Montreal Can now owns 559,660 shares of the company’s stock valued at $33,580,000 after acquiring an additional 44,241 shares during the period. Truvestments Capital LLC lifted its position in Archer-Daniels-Midland by 15.8% in the third quarter. Truvestments Capital LLC now owns 45,910 shares of the company’s stock worth $2,743,000 after purchasing an additional 6,257 shares during the period. Independent Advisor Alliance lifted its position in Archer-Daniels-Midland by 20.1% in the third quarter. Independent Advisor Alliance now owns 32,746 shares of the company’s stock worth $1,956,000 after purchasing an additional 5,479 shares during the period. Daiwa Securities Group Inc. lifted its position in Archer-Daniels-Midland by 4.7% in the third quarter. Daiwa Securities Group Inc. now owns 67,105 shares of the company’s stock worth $4,009,000 after purchasing an additional 3,030 shares during the period. Finally, KKM Financial LLC lifted its position in Archer-Daniels-Midland by 6.2% in the third quarter. KKM Financial LLC now owns 33,282 shares of the company’s stock worth $1,988,000 after purchasing an additional 1,957 shares during the period. 78.28% of the stock is owned by institutional investors.

Archer-Daniels-Midland Stock Performance

Shares of NYSE:ADM opened at $53.01 on Tuesday. Archer-Daniels-Midland Company has a twelve month low of $48.92 and a twelve month high of $77.35. The firm has a market cap of $25.37 billion, a PE ratio of 15.15 and a beta of 0.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 1.40. The business has a fifty day moving average of $56.45 and a 200-day moving average of $59.45.

Archer-Daniels-Midland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.50 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.77%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 57.14%.

Analyst Ratings Changes

Several brokerages recently commented on ADM. Morgan Stanley reduced their target price on Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 12th. 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 research report on Monday, September 9th. Finally, JPMorgan Chase & Co. raised their target price on Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $62.83.

Insider Activity

In other news, CEO Juan R. Luciano sold 3,683 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $61.00, for a total value of $224,663.00. Following the completion of the sale, the chief executive officer now directly owns 265,210 shares in the company, valued at approximately $16,177,810. This trade represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 219,348 shares of company stock worth $13,296,833. 1.20% of the stock is owned by corporate insiders.

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.