Bank of Nova Scotia Grows Stake in Archer-Daniels-Midland Company (NYSE:ADM)

Bank of Nova Scotia boosted its stake in shares of Archer-Daniels-Midland Company (NYSE:ADMGet Rating) by 7.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,183 shares of the company’s stock after purchasing an additional 6,560 shares during the period. Bank of Nova Scotia’s holdings in Archer-Daniels-Midland were worth $7,309,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in Archer-Daniels-Midland by 160.8% during the second quarter. EverSource Wealth Advisors LLC now owns 339 shares of the company’s stock valued at $27,000 after purchasing an additional 209 shares in the last quarter. First Community Trust NA purchased a new position in Archer-Daniels-Midland during the second quarter valued at $27,000. ACG Wealth purchased a new position in Archer-Daniels-Midland during the second quarter valued at $27,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in Archer-Daniels-Midland during the second quarter valued at $31,000. Finally, JFS Wealth Advisors LLC lifted its position in Archer-Daniels-Midland by 56.6% during the first quarter. JFS Wealth Advisors LLC now owns 418 shares of the company’s stock valued at $38,000 after purchasing an additional 151 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 284,531 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $91.20, for a total transaction of $25,949,227.20. Following the sale, the chief executive officer now directly owns 412,842 shares of the company’s stock, valued at $37,651,190.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 284,531 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $91.20, for a total transaction of $25,949,227.20. Following the completion of the transaction, the chief executive officer now owns 412,842 shares in the company, valued at $37,651,190.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Juan R. Luciano sold 300,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $93.38, for a total value of $28,014,000.00. Following the transaction, the chief executive officer now owns 412,842 shares of the company’s stock, valued at approximately $38,551,185.96. The disclosure for this sale can be found here. Insiders have sold 584,631 shares of company stock valued at $53,972,041 over the last ninety days. 1.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ADM shares. Seaport Res Ptn reiterated a “buy” rating on shares of Archer-Daniels-Midland in a research report on Wednesday, July 27th. Bank of America decreased their price target on Archer-Daniels-Midland from $104.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, October 24th. StockNews.com raised Archer-Daniels-Midland from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 3rd. Robert W. Baird raised their price target on Archer-Daniels-Midland from $94.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, October 26th. Finally, Wolfe Research assumed coverage on Archer-Daniels-Midland in a report on Friday, August 12th. They set an “outperform” rating and a $117.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Archer-Daniels-Midland has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

Archer-Daniels-Midland Trading Down 1.3 %

Shares of ADM stock opened at $93.07 on Monday. The stock’s 50-day moving average price is $88.43 and its 200-day moving average price is $84.87. The company has a current ratio of 1.51, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. Archer-Daniels-Midland Company has a 12-month low of $61.80 and a 12-month high of $98.88. The stock has a market capitalization of $51.13 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 1.76 and a beta of 0.85.

Archer-Daniels-Midland (NYSE:ADMGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.45. Archer-Daniels-Midland had a return on equity of 17.75% and a net margin of 4.16%. The company had revenue of $24.68 billion for the quarter, compared to analysts’ expectations of $22.21 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. Equities research analysts predict that Archer-Daniels-Midland Company will post 7.4 EPS for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 7th. Shareholders of record on Wednesday, November 16th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $1.60 annualized dividend and a yield of 1.72%. Archer-Daniels-Midland’s payout ratio is currently 22.07%.

Archer-Daniels-Midland Company Profile

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Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States, Switzerland, Cayman Islands, Brazil, Mexico, the United Kingdom, and internationally. The company operates through three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.

Further Reading

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Institutional Ownership by Quarter for Archer-Daniels-Midland (NYSE:ADM)

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