State of Alaska Department of Revenue Acquires 265 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

State of Alaska Department of Revenue lifted its holdings in Archer-Daniels-Midland Company (NYSE:ADMFree Report) by 0.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,863 shares of the company’s stock after buying an additional 265 shares during the quarter. State of Alaska Department of Revenue’s holdings in Archer-Daniels-Midland were worth $3,634,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Schroder Investment Management Group increased its position in Archer-Daniels-Midland by 3.1% in the third quarter. Schroder Investment Management Group now owns 73,722 shares of the company’s stock worth $5,560,000 after purchasing an additional 2,190 shares during the period. Royal London Asset Management Ltd. increased its position in Archer-Daniels-Midland by 6.1% in the third quarter. Royal London Asset Management Ltd. now owns 284,261 shares of the company’s stock worth $21,446,000 after purchasing an additional 16,377 shares during the period. Royal Bank of Canada increased its position in Archer-Daniels-Midland by 23.6% in the third quarter. Royal Bank of Canada now owns 1,952,712 shares of the company’s stock worth $147,273,000 after purchasing an additional 373,457 shares during the period. GSA Capital Partners LLP acquired a new stake in Archer-Daniels-Midland in the third quarter worth about $1,612,000. Finally, iA Global Asset Management Inc. increased its position in Archer-Daniels-Midland by 138.5% in the third quarter. iA Global Asset Management Inc. now owns 21,918 shares of the company’s stock worth $1,653,000 after purchasing an additional 12,729 shares during the period. 78.28% of the stock is owned by institutional investors.

Archer-Daniels-Midland Trading Down 2.1 %

NYSE ADM opened at $61.36 on Friday. The stock has a market capitalization of $30.34 billion, a price-to-earnings ratio of 10.76 and a beta of 0.74. The stock’s 50 day moving average price is $61.00 and its two-hundred day moving average price is $60.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.88 and a current ratio of 1.47. Archer-Daniels-Midland Company has a 52 week low of $50.72 and a 52 week high of $87.30.

Archer-Daniels-Midland (NYSE:ADMGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.35 by $0.11. The firm had revenue of $21.85 billion for the quarter, compared to analysts’ expectations of $22.26 billion. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.09 EPS. As a group, analysts anticipate that Archer-Daniels-Midland Company will post 5.56 earnings per share for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Wednesday, May 15th. Archer-Daniels-Midland’s dividend payout ratio is currently 35.09%.

Archer-Daniels-Midland announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ADM has been the subject of a number of research reports. BMO Capital Markets lowered their price objective on 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. Citigroup boosted their target price on Archer-Daniels-Midland from $63.00 to $64.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Bank of America decreased their target price on Archer-Daniels-Midland from $85.00 to $74.00 and set a “neutral” rating for the company in a research report on Thursday, March 14th. Finally, Jefferies Financial Group decreased their target price 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. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $67.50.

View Our Latest Stock Report on Archer-Daniels-Midland

Insider Transactions at Archer-Daniels-Midland

In other news, insider Fruit Molly L. Strader sold 6,904 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $60.73, for a total transaction of $419,279.92. Following the sale, the insider now owns 8,555 shares in the company, valued at approximately $519,545.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Archer-Daniels-Midland Profile

(Free Report)

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.

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

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