Baird Financial Group Inc. boosted its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 425,932 shares of the company’s stock after acquiring an additional 9,338 shares during the period. Baird Financial Group Inc. owned 0.08% of Archer-Daniels-Midland worth $25,812,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Berman Capital Advisors LLC lifted its holdings in Archer-Daniels-Midland by 70.0% in the second quarter. Berman Capital Advisors LLC now owns 1,649 shares of the company’s stock valued at $99,000 after acquiring an additional 679 shares during the last quarter. Day & Ennis LLC acquired a new position in Archer-Daniels-Midland in the second quarter valued at approximately $200,000. Mackenzie Financial Corp lifted its holdings in Archer-Daniels-Midland by 2.2% in the second quarter. Mackenzie Financial Corp now owns 97,922 shares of the company’s stock valued at $5,934,000 after acquiring an additional 2,094 shares during the last quarter. BlackRock Inc. lifted its holdings in Archer-Daniels-Midland by 3.7% in the second quarter. BlackRock Inc. now owns 39,043,689 shares of the company’s stock valued at $2,366,045,000 after acquiring an additional 1,380,332 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in Archer-Daniels-Midland by 9.9% in the second quarter. Deutsche Bank AG now owns 3,643,912 shares of the company’s stock valued at $220,821,000 after acquiring an additional 327,276 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.
A number of research analysts have commented on ADM shares. Zacks Investment Research cut Archer-Daniels-Midland from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Wednesday, August 11th. Jefferies Financial Group started coverage on Archer-Daniels-Midland in a research note on Wednesday, July 21st. They set a “hold” rating and a $55.00 price target on the stock. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $65.27.
Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings data on Monday, July 26th. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.30. Archer-Daniels-Midland had a return on equity of 13.30% and a net margin of 3.09%. The business had revenue of $22.93 billion for the quarter, compared to analyst estimates of $18.30 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. The company’s revenue was up 40.8% on a year-over-year basis. Sell-side analysts predict that Archer-Daniels-Midland Company will post 4.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Investors of record on Wednesday, August 18th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Tuesday, August 17th. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 41.23%.
In other Archer-Daniels-Midland news, CEO Juan R. Luciano bought 16,790 shares of the company’s stock in a transaction that occurred on Thursday, July 29th. The shares were purchased at an average price of $59.54 per share, with a total value of $999,676.60. Following the completion of the acquisition, the chief executive officer now directly owns 483,994 shares of the company’s stock, valued at approximately $28,817,002.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
Archer-Daniels-Midland Co processes oilseeds, corn, wheat, cocoa and other agricultural commodities. The company operates through the following segments: Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition. The Ag Services and Oilseeds segment includes activities related to the origination, merchandising, crushing, and further processing of oilseeds such as soybeans and soft seeds, such as cottonseed, sunflower seed, canola, rapeseed, and flaxseed into vegetable oils and protein meals.
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