Pacer Advisors Inc. Purchases 7,549,083 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Pacer Advisors Inc. grew its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 15,790.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,596,892 shares of the company’s stock after acquiring an additional 7,549,083 shares during the period. Archer-Daniels-Midland comprises 1.0% of Pacer Advisors Inc.’s portfolio, making the stock its 17th largest position. Pacer Advisors Inc. owned 1.54% of Archer-Daniels-Midland worth $459,232,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AE Wealth Management LLC grew its position in shares of Archer-Daniels-Midland by 157.5% in the 2nd quarter. AE Wealth Management LLC now owns 76,185 shares of the company’s stock worth $4,605,000 after buying an additional 46,595 shares during the last quarter. Clifford Group LLC lifted its stake in Archer-Daniels-Midland by 5.0% in the second quarter. Clifford Group LLC now owns 6,771 shares of the company’s stock worth $409,000 after acquiring an additional 324 shares during the period. Brighton Jones LLC bought a new stake in Archer-Daniels-Midland in the second quarter valued at $206,000. SkyOak Wealth LLC purchased a new position in Archer-Daniels-Midland during the 2nd quarter valued at $235,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Archer-Daniels-Midland by 22.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 48,785 shares of the company’s stock worth $2,890,000 after purchasing an additional 8,944 shares in the last quarter. 78.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ADM. JPMorgan Chase & Co. boosted their price target on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Citigroup reduced their target price on Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, UBS Group raised their target price on Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $65.62.

Archer-Daniels-Midland Price Performance

ADM opened at $61.36 on Friday. Archer-Daniels-Midland Company has a 1 year low of $50.72 and a 1 year high of $79.51. The stock has a 50-day moving average price of $60.75 and a 200-day moving average price of $60.92. The firm has a market cap of $30.34 billion, a PE ratio of 10.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 0.88.

Archer-Daniels-Midland (NYSE:ADM) last issued its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.19). The firm had revenue of $22.25 billion during the quarter, compared to the consensus estimate of $23.12 billion. Archer-Daniels-Midland had a return on equity of 12.06% and a net margin of 2.93%. The company’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.89 EPS. Sell-side analysts predict that Archer-Daniels-Midland Company will post 5.33 earnings per share for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Wednesday, August 21st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Wednesday, August 21st. Archer-Daniels-Midland’s payout ratio is 35.09%.

Insider Activity

In related news, CEO Juan R. Luciano sold 3,683 shares of Archer-Daniels-Midland stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $61.00, for a total value of $224,663.00. Following the completion of the sale, the chief executive officer now directly owns 265,210 shares in the company, valued at approximately $16,177,810. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Juan R. Luciano sold 3,683 shares of Archer-Daniels-Midland stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $61.00, for a total value of $224,663.00. Following the completion of the sale, the chief executive officer now directly owns 265,210 shares in the company, valued at $16,177,810. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Juan R. Luciano sold 170,194 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $60.51, for a total transaction of $10,298,438.94. Following the transaction, the chief executive officer now owns 265,210 shares in the company, valued at approximately $16,047,857.10. The disclosure for this sale can be found here. Insiders have sold a total of 219,348 shares of company stock valued at $13,296,833 over the last ninety days. 1.20% of the stock is currently owned by corporate insiders.

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.