Martingale Asset Management L P cut its position in shares of Archer Daniels Midland Co (NYSE:ADM) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 160,459 shares of the company’s stock after selling 3,800 shares during the quarter. Martingale Asset Management L P’s holdings in Archer Daniels Midland were worth $8,067,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Archer Daniels Midland by 8.7% during the second quarter. BlackRock Inc. now owns 45,957,560 shares of the company’s stock worth $2,106,235,000 after purchasing an additional 3,694,727 shares during the last quarter. Northern Trust Corp boosted its holdings in Archer Daniels Midland by 13.1% during the second quarter. Northern Trust Corp now owns 11,824,020 shares of the company’s stock worth $541,894,000 after purchasing an additional 1,369,242 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Archer Daniels Midland by 8.2% during the second quarter. Bank of New York Mellon Corp now owns 8,985,797 shares of the company’s stock worth $411,820,000 after purchasing an additional 683,457 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Archer Daniels Midland by 6.5% during the third quarter. Prudential Financial Inc. now owns 3,716,228 shares of the company’s stock worth $186,815,000 after purchasing an additional 226,420 shares during the last quarter. Finally, Marathon Asset Management LLP boosted its holdings in Archer Daniels Midland by 0.3% during the second quarter. Marathon Asset Management LLP now owns 2,728,468 shares of the company’s stock worth $125,046,000 after purchasing an additional 9,312 shares during the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.
ADM has been the topic of several analyst reports. Buckingham Research boosted their price target on shares of Archer Daniels Midland from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Argus upgraded shares of Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Thursday, November 8th. Morgan Stanley boosted their price target on shares of Archer Daniels Midland from $33.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, August 3rd. Cleveland Research restated a “hold” rating on shares of Archer Daniels Midland in a report on Monday, October 1st. Finally, BMO Capital Markets boosted their price target on shares of Archer Daniels Midland from $45.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, August 1st. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $49.67.
Archer Daniels Midland (NYSE:ADM) last released its earnings results on Tuesday, November 6th. The company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.09. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.72 billion. Archer Daniels Midland had a net margin of 3.54% and a return on equity of 10.45%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 earnings per share. As a group, research analysts anticipate that Archer Daniels Midland Co will post 3.53 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 23rd will be paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, November 21st. Archer Daniels Midland’s payout ratio is 55.14%.
In related news, VP John P. Stott sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $52.00, for a total transaction of $130,000.00. Following the sale, the vice president now directly owns 32,885 shares in the company, valued at approximately $1,710,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph D. Taets sold 2,153 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $51.00, for a total transaction of $109,803.00. Following the sale, the insider now owns 169,213 shares in the company, valued at $8,629,863. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.
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About Archer Daniels Midland
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. It operates through four segments: Carbohydrate Solutions, Nutrition, Oilseeds, and Origination. The company offers oilseeds, corn, wheat, milo, oats, rice, and barley; and structured trade finance, as well as processes wheat into wheat flour.
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