Wedge Capital Management L L P NC Sells 5,529 Shares of Archer Daniels Midland Co (ADM)

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Wedge Capital Management L L P NC cut its stake in Archer Daniels Midland Co (NYSE:ADM) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 141,545 shares of the company’s stock after selling 5,529 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Archer Daniels Midland were worth $7,115,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ADM. BlackRock Inc. increased its position in shares of Archer Daniels Midland by 8.7% during the 2nd quarter. BlackRock Inc. now owns 45,957,560 shares of the company’s stock worth $2,106,235,000 after purchasing an additional 3,694,727 shares during the last quarter. Northern Trust Corp increased its position in shares of Archer Daniels Midland by 13.1% during the 2nd quarter. Northern Trust Corp now owns 11,824,020 shares of the company’s stock worth $541,894,000 after purchasing an additional 1,369,242 shares during the last quarter. FMR LLC increased its position in shares of Archer Daniels Midland by 252.0% during the 2nd quarter. FMR LLC now owns 1,126,191 shares of the company’s stock worth $51,613,000 after purchasing an additional 806,287 shares during the last quarter. Bank of New York Mellon Corp grew its position in 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 valued at $411,820,000 after acquiring an additional 683,457 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. grew its position in Archer Daniels Midland by 268.0% in the 3rd quarter. NN Investment Partners Holdings N.V. now owns 777,487 shares of the company’s stock valued at $39,084,000 after acquiring an additional 566,200 shares in the last quarter. 76.07% of the stock is owned by institutional investors and hedge funds.

NYSE ADM opened at $47.33 on Wednesday. The stock has a market capitalization of $26.87 billion, a price-to-earnings ratio of 19.48 and a beta of 0.97. 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 Co has a 1-year low of $38.59 and a 1-year high of $52.06.

Archer Daniels Midland (NYSE:ADM) last released its earnings results on Tuesday, November 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.09. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.72 billion. Archer Daniels Midland had a return on equity of 9.19% and a net margin of 3.05%. Archer Daniels Midland’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 EPS. On average, sell-side analysts forecast that Archer Daniels Midland Co will post 3.45 earnings per share for the current fiscal year.

Several research firms have weighed in on ADM. Cleveland Research reaffirmed a “hold” rating on shares of Archer Daniels Midland in a research report on Monday, October 1st. Stephens reaffirmed an “overweight” rating on shares of Archer Daniels Midland in a research report on Thursday, August 16th. Morgan Stanley lifted their target price on Archer Daniels Midland from $33.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, August 3rd. BMO Capital Markets lifted their target price on Archer Daniels Midland from $45.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, August 1st. Finally, Buckingham Research lifted their target price on Archer Daniels Midland from $53.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $49.36.

In other news, VP John P. Stott sold 2,500 shares of Archer Daniels Midland stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $52.00, for a total value of $130,000.00. Following the completion of the transaction, the vice president now owns 32,885 shares in the company, valued at approximately $1,710,020. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the transaction, the insider now owns 169,213 shares of the company’s stock, valued at approximately $8,629,863. The disclosure for this sale can be found here. Insiders sold a total of 8,500 shares of company stock valued at $436,038 in the last quarter. Company insiders own 0.94% of the company’s stock.

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Archer Daniels Midland Company 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.

Further Reading: Diversification For Individual Investors

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

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