State of Michigan Retirement System Decreases Stock Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

State of Michigan Retirement System cut its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 7.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,741 shares of the company’s stock after selling 13,800 shares during the quarter. State of Michigan Retirement System’s holdings in Archer-Daniels-Midland were worth $9,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Easterly Investment Partners LLC raised its holdings in shares of Archer-Daniels-Midland by 57.2% during the second quarter. Easterly Investment Partners LLC now owns 154,234 shares of the company’s stock valued at $9,323,000 after acquiring an additional 56,132 shares in the last quarter. Cypress Capital Group lifted its position in shares of Archer-Daniels-Midland by 337.9% in the 2nd quarter. Cypress Capital Group now owns 19,200 shares of the company’s stock worth $1,161,000 after purchasing an additional 14,815 shares during the period. AMG National Trust Bank bought a new stake in shares of Archer-Daniels-Midland during the 2nd quarter valued at about $372,000. SNS Financial Group LLC increased its position in shares of Archer-Daniels-Midland by 15.5% during the second quarter. SNS Financial Group LLC now owns 16,140 shares of the company’s stock valued at $976,000 after buying an additional 2,172 shares during the period. Finally, Courier Capital LLC raised its stake in Archer-Daniels-Midland by 12.5% in the second quarter. Courier Capital LLC now owns 16,334 shares of the company’s stock worth $987,000 after buying an additional 1,817 shares in the last quarter. Institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Trading Down 0.3 %

Shares of NYSE ADM opened at $60.57 on Wednesday. The firm’s 50 day moving average price is $61.28 and its 200-day moving average price is $60.09. Archer-Daniels-Midland Company has a 52-week low of $50.72 and a 52-week high of $81.87. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.44. The company has a market cap of $29.95 billion, a PE ratio of 10.62 and a beta of 0.74.

Archer-Daniels-Midland (NYSE:ADM) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.19). The business had revenue of $22.25 billion during the quarter, compared to the consensus estimate of $23.12 billion. Archer-Daniels-Midland had a net margin of 2.93% and a return on equity of 12.06%. The business’s revenue was down 11.7% compared to the same quarter last year. During the same period last year, the company posted $1.89 earnings per share. On average, equities research analysts expect that Archer-Daniels-Midland Company will post 5.41 EPS for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Wednesday, August 21st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Wednesday, August 21st. Archer-Daniels-Midland’s dividend payout ratio (DPR) is 35.09%.

Wall Street Analysts Forecast Growth

ADM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Citigroup reduced their price target on Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $64.62.

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.