Kornitzer Capital Management Inc. KS lowered its position in Archer Daniels Midland Co (NYSE:ADM) by 86.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,515 shares of the company’s stock after selling 68,600 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Archer Daniels Midland were worth $529,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. lifted its stake 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 during 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 acquiring an additional 1,369,242 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 acquiring an additional 683,457 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Archer Daniels Midland by 1.1% in the third quarter. Dimensional Fund Advisors LP now owns 4,136,661 shares of the company’s stock worth $207,913,000 after acquiring an additional 46,897 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in Archer Daniels Midland by 6.5% in the third quarter. Prudential Financial Inc. now owns 3,716,228 shares of the company’s stock worth $186,815,000 after acquiring an additional 226,420 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.
A number of research analysts recently issued reports on ADM shares. Cleveland Research reiterated a “hold” rating on shares of Archer Daniels Midland in a research note on Monday, October 1st. Argus upgraded shares of Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Thursday, November 8th. Finally, Stephens restated an “overweight” rating on shares of Archer Daniels Midland in a research report on Thursday, August 16th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Archer Daniels Midland presently has a consensus rating of “Buy” and an average price target of $49.67.
Shares of NYSE:ADM opened at $45.61 on Thursday. The company has a market cap of $25.57 billion, a PE ratio of 18.77 and a beta of 0.98. The company has a quick ratio of 0.94, a current ratio of 1.67 and a debt-to-equity ratio of 0.35. Archer Daniels Midland Co has a twelve month low of $39.28 and a twelve month high of $52.06.
Archer Daniels Midland (NYSE:ADM) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. The business 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 revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, equities research analysts forecast that Archer Daniels Midland Co will post 3.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 23rd will be given a dividend of $0.335 per share. The ex-dividend date is Wednesday, November 21st. This represents a $1.34 annualized dividend and a dividend yield of 2.94%. Archer Daniels Midland’s dividend payout ratio is presently 55.14%.
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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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