Weatherly Asset Management L. P. Cuts Stock Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

Weatherly Asset Management L. P. decreased its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,671 shares of the company’s stock after selling 525 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Archer-Daniels-Midland were worth $3,371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ADM. International Assets Investment Management LLC grew its holdings in shares of Archer-Daniels-Midland by 34.7% during the third quarter. International Assets Investment Management LLC now owns 4,189 shares of the company’s stock worth $320,000 after purchasing an additional 1,078 shares in the last quarter. SG Americas Securities LLC boosted its stake in Archer-Daniels-Midland by 100.1% in the third quarter. SG Americas Securities LLC now owns 51,605 shares of the company’s stock worth $3,892,000 after buying an additional 25,821 shares in the last quarter. Naples Global Advisors LLC boosted its stake in Archer-Daniels-Midland by 32.5% in the third quarter. Naples Global Advisors LLC now owns 10,706 shares of the company’s stock worth $807,000 after buying an additional 2,625 shares in the last quarter. BTC Capital Management Inc. boosted its stake in Archer-Daniels-Midland by 2.5% in the third quarter. BTC Capital Management Inc. now owns 41,529 shares of the company’s stock worth $3,132,000 after buying an additional 1,002 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its stake in Archer-Daniels-Midland by 4.9% in the third quarter. Avior Wealth Management LLC now owns 6,004 shares of the company’s stock worth $453,000 after buying an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Wall Street Analyst Weigh In

ADM has been the subject of several recent research reports. The Goldman Sachs Group downgraded Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $90.00 to $67.00 in a research report on Monday, January 22nd. Robert W. Baird downgraded Archer-Daniels-Midland from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $96.00 to $61.00 in a research report on Monday, January 22nd. Barclays downgraded Archer-Daniels-Midland from an “overweight” rating to an “underweight” rating and set a $60.00 target price for the company. in a report on Monday, January 22nd. Bank of America decreased their target price on Archer-Daniels-Midland from $85.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, March 14th. Finally, Roth Capital downgraded Archer-Daniels-Midland from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $67.50.

Archer-Daniels-Midland Stock Down 1.1 %

Archer-Daniels-Midland stock traded down $0.70 on Tuesday, hitting $61.80. 3,195,195 shares of the stock traded hands, compared to its average volume of 6,029,632. Archer-Daniels-Midland Company has a 1 year low of $50.72 and a 1 year high of $87.30. The company has a current ratio of 1.60, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34. The business’s fifty day simple moving average is $58.46 and its 200 day simple moving average is $65.48. The firm has a market cap of $31.01 billion, a P/E ratio of 9.65 and a beta of 0.77.

Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.07). Archer-Daniels-Midland had a net margin of 3.71% and a return on equity of 15.25%. The company had revenue of $22.98 billion for the quarter, compared to the consensus estimate of $23.79 billion. During the same quarter in the previous year, the business earned $1.93 earnings per share. Archer-Daniels-Midland’s revenue was down 11.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Archer-Daniels-Midland Company will post 5.48 earnings per share for the current year.

Archer-Daniels-Midland announced that its board has approved a stock repurchase program on Tuesday, March 12th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Archer-Daniels-Midland Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 8th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.24%. This is an increase from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, February 7th. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 31.25%.

Archer-Daniels-Midland Profile

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.