Kornitzer Capital Management Inc. KS Sells 68,600 Shares of Archer Daniels Midland Co (ADM)

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.

In other news, VP John P. Stott sold 2,500 shares of Archer Daniels Midland stock in a transaction on Monday, October 8th. The shares were sold at an average price of $52.00, for a total value of $130,000.00. Following the transaction, the vice president now directly owns 32,885 shares of the company’s stock, valued at approximately $1,710,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ray G. Young bought 2,100 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was acquired at an average cost of $47.35 per share, for a total transaction of $99,435.00. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by insiders.

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%.

TRADEMARK VIOLATION WARNING: This piece was originally reported by WKRB News and is owned by of WKRB News. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.wkrb13.com/2018/12/06/kornitzer-capital-management-inc-ks-sells-68600-shares-of-archer-daniels-midland-co-adm.html.

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.

Featured Article: Insider Trading – What You Need to Know

Institutional Ownership by Quarter for Archer Daniels Midland (NYSE:ADM)

Receive News & Ratings for Archer Daniels Midland Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer Daniels Midland and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply