ClariVest Asset Management LLC trimmed its position in Archer Daniels Midland Co (NYSE:ADM) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 554,527 shares of the company’s stock after selling 42,367 shares during the quarter. ClariVest Asset Management LLC’s holdings in Archer Daniels Midland were worth $25,415,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in ADM. Synovus Financial Corp acquired a new stake in Archer Daniels Midland in the first quarter worth about $104,000. Stelac Advisory Services LLC acquired a new stake in Archer Daniels Midland in the first quarter worth about $111,000. Signaturefd LLC acquired a new stake in Archer Daniels Midland in the first quarter worth about $112,000. MUFG Americas Holdings Corp increased its position in Archer Daniels Midland by 408.7% in the second quarter. MUFG Americas Holdings Corp now owns 2,676 shares of the company’s stock worth $123,000 after purchasing an additional 2,150 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its position in Archer Daniels Midland by 71.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,778 shares of the company’s stock worth $127,000 after purchasing an additional 1,154 shares during the period. Hedge funds and other institutional investors own 75.84% of the company’s stock.
In other news, VP John P. Stott sold 2,133 shares of Archer Daniels Midland stock in a transaction dated Friday, June 22nd. The stock was sold at an average price of $46.50, for a total transaction of $99,184.50. Following the transaction, the vice president now owns 39,628 shares in the company, valued at approximately $1,842,702. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph D. Taets sold 2,153 shares of Archer Daniels Midland stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $51.00, for a total value of $109,803.00. Following the transaction, the insider now owns 169,213 shares in the company, valued at approximately $8,629,863. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,445 shares of company stock worth $6,086,881. Company insiders own 2.70% of the company’s stock.
ADM traded up $0.04 during midday trading on Thursday, reaching $50.44. 20,416 shares of the company were exchanged, compared to its average volume of 3,946,941. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32. Archer Daniels Midland Co has a one year low of $38.59 and a one year high of $51.11. The stock has a market cap of $28.42 billion, a P/E ratio of 20.72 and a beta of 1.03.
Archer Daniels Midland (NYSE:ADM) last issued its earnings results on Tuesday, July 31st. The company reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $17.07 billion for the quarter, compared to analysts’ expectations of $15.48 billion. During the same quarter last year, the business earned $0.57 earnings per share. The company’s revenue was up 14.2% compared to the same quarter last year. equities analysts forecast that Archer Daniels Midland Co will post 3.41 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 6th. Shareholders of record on Thursday, August 16th will be issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Wednesday, August 15th. Archer Daniels Midland’s dividend payout ratio (DPR) is currently 55.14%.
A number of brokerages recently commented on ADM. 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. 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. Monness Crespi & Hardt upgraded Archer Daniels Midland from a “sell” rating to a “neutral” rating in a research report on Wednesday, May 2nd. ValuEngine cut Archer Daniels Midland from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Stephens restated an “overweight” rating on shares of Archer Daniels Midland in a report on Thursday, August 16th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $47.62.
Archer Daniels Midland Profile
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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