Victory Capital Management Inc. Buys 138,806 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Victory Capital Management Inc. raised its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 50.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 414,643 shares of the company’s stock after buying an additional 138,806 shares during the period. Victory Capital Management Inc.’s holdings in Archer-Daniels-Midland were worth $29,946,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in shares of Archer-Daniels-Midland during the third quarter valued at about $28,000. Tompkins Financial Corp purchased a new stake in Archer-Daniels-Midland during the 3rd quarter worth approximately $28,000. Operose Advisors LLC acquired a new position in Archer-Daniels-Midland during the 3rd quarter valued at approximately $30,000. Strengthening Families & Communities LLC raised its holdings in shares of Archer-Daniels-Midland by 37.3% in the third quarter. Strengthening Families & Communities LLC now owns 641 shares of the company’s stock worth $48,000 after buying an additional 174 shares during the last quarter. Finally, Emfo LLC purchased a new stake in shares of Archer-Daniels-Midland during the fourth quarter valued at $51,000. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Archer-Daniels-Midland Price Performance

Shares of Archer-Daniels-Midland stock opened at $61.58 on Wednesday. The firm has a market cap of $30.45 billion, a PE ratio of 10.80 and a beta of 0.78. The business has a 50-day moving average price of $59.95 and a 200 day moving average price of $64.43. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.35. Archer-Daniels-Midland Company has a twelve month low of $50.72 and a twelve month high of $87.30.

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, 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 business had revenue of $21.85 billion for the quarter, compared to the consensus estimate of $22.26 billion. During the same period last year, the firm posted $2.09 earnings per share. The company’s revenue was down 9.2% compared to the same quarter last year. Sell-side analysts predict that Archer-Daniels-Midland Company will post 5.58 earnings per share for the current fiscal year.

Archer-Daniels-Midland declared that its Board of Directors has authorized a share repurchase plan on Tuesday, March 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Archer-Daniels-Midland Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Wednesday, May 15th. Archer-Daniels-Midland’s dividend payout ratio is presently 35.09%.

Wall Street Analysts Forecast Growth

ADM has been the topic of several research analyst reports. Stifel Nicolaus downgraded Archer-Daniels-Midland from a “buy” rating to a “hold” rating and dropped their price target for the company from $116.00 to $56.00 in a research note on Monday, January 22nd. Roth Mkm lowered Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and dropped their target price for the company from $98.00 to $66.00 in a research report on Monday, January 22nd. 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 research report on Wednesday, March 13th. UBS Group reaffirmed a “neutral” rating and issued a $51.00 price objective (down from $104.00) on shares of Archer-Daniels-Midland in a report on Friday, January 26th. Finally, StockNews.com downgraded shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.