Teachers Retirement System of The State of Kentucky cut its stake in Archer Daniels Midland Co (NYSE:ADM) by 12.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,816 shares of the company’s stock after selling 7,500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Archer Daniels Midland were worth $2,705,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in ADM. BlackRock Inc. grew its position in Archer Daniels Midland by 8.7% in the second quarter. BlackRock Inc. now owns 45,957,560 shares of the company’s stock worth $2,106,235,000 after acquiring an additional 3,694,727 shares in the last quarter. Northern Trust Corp lifted its stake in Archer Daniels Midland by 13.1% in 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. FMR LLC lifted its stake in Archer Daniels Midland by 252.0% in the second quarter. FMR LLC now owns 1,126,191 shares of the company’s stock worth $51,613,000 after purchasing an additional 806,287 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Archer Daniels Midland by 8.2% in 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. Finally, NN Investment Partners Holdings N.V. lifted its stake in Archer Daniels Midland by 268.0% in the third quarter. NN Investment Partners Holdings N.V. now owns 777,487 shares of the company’s stock worth $39,084,000 after purchasing an additional 566,200 shares during the last quarter. Institutional investors own 76.34% of the company’s stock.
Several research firms have weighed in on ADM. 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 research note on Wednesday, August 1st. 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 research note on Wednesday, August 1st. 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 research note on Friday, August 3rd. Stephens reissued an “overweight” rating on shares of Archer Daniels Midland in a research note on Thursday, August 16th. Finally, Argus raised shares of Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Thursday, November 8th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Archer Daniels Midland currently has an average rating of “Buy” and a consensus price target of $49.67.
Archer Daniels Midland (NYSE:ADM) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. The firm had revenue of $15.80 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, equities analysts anticipate that Archer Daniels Midland Co will post 3.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 23rd will be paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Wednesday, November 21st. Archer Daniels Midland’s dividend payout ratio (DPR) is 55.14%.
In other news, insider Joseph D. Taets sold 2,153 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $51.00, for a total transaction of $109,803.00. Following the completion of the transaction, the insider now directly owns 169,213 shares of the company’s stock, valued at $8,629,863. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ray G. Young acquired 2,100 shares of the stock in a transaction dated Wednesday, November 7th. The shares were purchased at an average cost of $47.35 per share, with a total value of $99,435.00. The disclosure for this purchase can be found here. Corporate insiders own 2.70% of the company’s stock.
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Archer Daniels Midland Profile
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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