NuWave Investment Management LLC Reduces Stock Position in Archer Daniels Midland Co (NYSE:ADM)

NuWave Investment Management LLC lessened its stake in shares of Archer Daniels Midland Co (NYSE:ADM) by 92.4% in the second quarter, HoldingsChannel reports. The firm owned 1,200 shares of the company’s stock after selling 14,664 shares during the quarter. NuWave Investment Management LLC’s holdings in Archer Daniels Midland were worth $49,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ADM. Cornerstone Advisors Inc. grew its holdings in Archer Daniels Midland by 72.1% in the 1st quarter. Cornerstone Advisors Inc. now owns 616 shares of the company’s stock valued at $27,000 after buying an additional 258 shares during the period. Farmers National Bank purchased a new stake in Archer Daniels Midland in the 1st quarter valued at about $27,000. Country Trust Bank grew its holdings in Archer Daniels Midland by 65.0% in the 1st quarter. Country Trust Bank now owns 693 shares of the company’s stock valued at $30,000 after buying an additional 273 shares during the period. Liberty Wealth Management LLC purchased a new stake in Archer Daniels Midland in the 4th quarter valued at about $30,000. Finally, HCR Wealth Advisors purchased a new stake in Archer Daniels Midland in the 1st quarter valued at about $778,000. Hedge funds and other institutional investors own 75.77% of the company’s stock.

A number of analysts have recently issued reports on ADM shares. ValuEngine cut Wolverine World Wide from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Stifel Nicolaus boosted their target price on FactSet Research Systems from $230.00 to $242.00 and gave the stock a “hold” rating in a report on Wednesday, June 26th. Zacks Investment Research cut Glu Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Robert W. Baird reiterated an “outperform” rating and set a $48.00 target price (down previously from $54.00) on shares of Archer Daniels Midland in a report on Monday, April 29th. Finally, BMO Capital Markets boosted their target price on Discover Financial Services to $92.00 and gave the stock a “market perform” rating in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $49.75.

Shares of NYSE:ADM opened at $41.07 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.52 and a debt-to-equity ratio of 0.41. Archer Daniels Midland Co has a 1 year low of $37.77 and a 1 year high of $52.06. The stock has a market cap of $23.01 billion, a PE ratio of 11.73 and a beta of 1.03. The business’s 50-day moving average price is $41.03.

Archer Daniels Midland (NYSE:ADM) last released its quarterly earnings results on Friday, April 26th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.16). The company had revenue of $15.30 billion for the quarter, compared to analyst estimates of $16.19 billion. Archer Daniels Midland had a return on equity of 9.83% and a net margin of 2.57%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. Research analysts expect that Archer Daniels Midland Co will post 3.1 EPS for the current year.

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. The company operates through four segments: Origination, Oilseeds, Carbohydrate Solutions, and Nutrition. It buys, stores, cleans, and transports agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, as well as resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry.

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

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