Keybank National Association OH Cuts Stock Holdings in Archer Daniels Midland Company $ADM

Keybank National Association OH trimmed its stake in Archer Daniels Midland Company (NYSE:ADM) by 29.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,083 shares of the company’s stock after selling 16,253 shares during the period. Keybank National Association OH’s holdings in Archer Daniels Midland were worth $2,275,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ADM. National Pension Service increased its holdings in shares of Archer Daniels Midland by 4.3% in the 3rd quarter. National Pension Service now owns 967,944 shares of the company’s stock worth $57,825,000 after buying an additional 40,158 shares during the last quarter. Cornerstone Wealth Management LLC bought a new position in Archer Daniels Midland in the third quarter valued at $214,000. AlphaQuest LLC purchased a new stake in Archer Daniels Midland during the third quarter valued at about $1,332,000. Arizona State Retirement System lifted its stake in Archer Daniels Midland by 1.3% during the third quarter. Arizona State Retirement System now owns 142,156 shares of the company’s stock worth $8,492,000 after purchasing an additional 1,815 shares during the last quarter. Finally, Impact Partnership Wealth LLC bought a new position in shares of Archer Daniels Midland during the 3rd quarter valued at about $436,000. 78.28% of the stock is currently owned by institutional investors.

Archer Daniels Midland Stock Performance

Archer Daniels Midland stock opened at $67.97 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.92 and a debt-to-equity ratio of 0.29. The firm has a market cap of $32.67 billion, a P/E ratio of 27.74, a P/E/G ratio of 4.61 and a beta of 0.70. Archer Daniels Midland Company has a 1-year low of $40.98 and a 1-year high of $69.75. The firm has a 50-day moving average of $61.38 and a 200-day moving average of $60.38.

Archer Daniels Midland (NYSE:ADM) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.96 billion. Archer Daniels Midland had a return on equity of 8.01% and a net margin of 1.43%.Archer Daniels Midland’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 EPS. Sell-side analysts expect that Archer Daniels Midland Company will post 4.31 EPS for the current year.

Archer Daniels Midland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Wednesday, November 19th were paid a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $2.04 dividend on an annualized basis and a yield of 3.0%. Archer Daniels Midland’s dividend payout ratio (DPR) is presently 83.27%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ADM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Archer Daniels Midland in a research note on Wednesday, January 21st. Zacks Research raised shares of Archer Daniels Midland from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. UBS Group reissued a “buy” rating on shares of Archer Daniels Midland in a research note on Monday, December 15th. JPMorgan Chase & Co. upped their price target on shares of Archer Daniels Midland from $59.00 to $60.00 and gave the company an “underweight” rating in a research report on Wednesday, January 21st. Finally, Morgan Stanley downgraded Archer Daniels Midland from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $57.00 to $50.00 in a report on Tuesday, December 16th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $54.50.

Archer Daniels Midland Profile

Archer Daniels Midland Company (ADM) is a global agricultural processor and food-ingredient provider that sources, transports and processes oilseeds, corn, wheat and other agricultural commodities. The company operates large-scale crushing, refining and processing facilities that produce vegetable oils, protein meals, corn sweeteners, starches, ethanol, animal feeds and a wide range of food and industrial ingredients. ADM also develops specialty ingredients and solutions for human and animal nutrition, food and beverage formulation, and industrial applications such as bio-based materials and renewable fuels.

ADM’s business combines commodity origination and merchandising with downstream manufacturing and ingredient formulation.