Toronto Dominion Bank boosted its stake in shares of Archer Daniels Midland Co (NYSE:ADM) by 19.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 359,437 shares of the company’s stock after buying an additional 57,972 shares during the quarter. Toronto Dominion Bank owned approximately 0.06% of Archer Daniels Midland worth $16,470,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. raised its position in shares of Archer Daniels Midland by 9,164.5% in the 1st quarter. Point72 Asset Management L.P. now owns 3,020,241 shares of the company’s stock worth $130,988,000 after acquiring an additional 2,987,641 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Archer Daniels Midland by 20.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 15,322,485 shares of the company’s stock worth $664,536,000 after acquiring an additional 2,598,337 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Archer Daniels Midland by 8.2% in the 2nd 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 in the last quarter. Natixis bought a new position in shares of Archer Daniels Midland in the 1st quarter worth about $28,649,000. Finally, Millennium Management LLC raised its position in shares of Archer Daniels Midland by 222.3% in the 1st quarter. Millennium Management LLC now owns 881,151 shares of the company’s stock worth $38,216,000 after acquiring an additional 607,780 shares in the last quarter. 75.19% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on Archer Daniels Midland from $45.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 1st. Stephens reissued an “overweight” rating on shares of Archer Daniels Midland in a research report on Thursday. Buckingham Research lifted their price objective on Archer Daniels Midland from $53.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Morgan Stanley lifted their price objective on Archer Daniels Midland from $33.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, August 3rd. Finally, Monness Crespi & Hardt raised Archer Daniels Midland from a “sell” rating to a “neutral” rating in a research report on Wednesday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Archer Daniels Midland presently has a consensus rating of “Hold” and a consensus target price of $47.62.
Shares of Archer Daniels Midland stock opened at $50.55 on Friday. Archer Daniels Midland Co has a one year low of $38.59 and a one year high of $50.77. The stock has a market capitalization of $27.91 billion, a P/E ratio of 20.80 and a beta of 1.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.59 and a quick ratio of 0.91.
Archer Daniels Midland (NYSE:ADM) last issued its earnings results on Tuesday, July 31st. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.25. Archer Daniels Midland had a return on equity of 9.19% and a net margin of 3.05%. The business had revenue of $17.07 billion during the quarter, compared to analyst estimates of $15.48 billion. During the same period in the previous year, the company posted $0.57 EPS. The firm’s revenue was up 14.2% compared to the same quarter last year. analysts expect that Archer Daniels Midland Co will post 3.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 6th. Investors of record on Thursday, August 16th will be given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Wednesday, August 15th. Archer Daniels Midland’s payout ratio is 55.14%.
In related news, VP John P. Stott sold 4,243 shares of the business’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $49.40, for a total value of $209,604.20. Following the completion of the sale, the vice president now directly owns 35,385 shares of the company’s stock, valued at approximately $1,748,019. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP John P. Stott sold 2,133 shares of the business’s stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $46.50, for a total value of $99,184.50. Following the completion of the sale, the vice president now directly owns 39,628 shares of the company’s stock, valued at $1,842,702. The disclosure for this sale can be found here. Insiders sold a total of 119,445 shares of company stock valued at $5,780,843 over the last ninety days. 0.94% of the stock is currently owned by corporate insiders.
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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