Allspring Global Investments Holdings LLC Sells 44,759 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Allspring Global Investments Holdings LLC cut its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 28.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,201 shares of the company’s stock after selling 44,759 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Archer-Daniels-Midland were worth $5,735,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADM. Harbor Capital Advisors Inc. acquired a new stake in shares of Archer-Daniels-Midland in the 3rd quarter valued at about $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Archer-Daniels-Midland during the third quarter worth approximately $26,000. Peterson Financial Group Inc. bought a new stake in shares of Archer-Daniels-Midland during the third quarter worth approximately $28,000. Raleigh Capital Management Inc. boosted its holdings in shares of Archer-Daniels-Midland by 179.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 556 shares of the company’s stock worth $28,000 after acquiring an additional 357 shares during the period. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Archer-Daniels-Midland during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 78.28% of the company’s stock.

Wall Street Analyst Weigh In

ADM has been the subject of several recent research reports. Stephens cut their price target on Archer-Daniels-Midland from $55.00 to $52.00 in a research note on Tuesday, February 4th. Citigroup boosted their price objective on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Morgan Stanley lowered their price objective on shares of Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Bank of America lowered their price target on shares of Archer-Daniels-Midland from $54.00 to $48.00 and set an “underperform” rating for the company in a report on Tuesday, February 11th. Finally, BMO Capital Markets decreased their price objective on Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, Archer-Daniels-Midland currently has a consensus rating of “Hold” and a consensus price target of $55.11.

Archer-Daniels-Midland Stock Up 0.4 %

Shares of NYSE:ADM opened at $46.09 on Thursday. The firm has a fifty day moving average price of $49.68 and a two-hundred day moving average price of $54.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.44 and a quick ratio of 0.84. Archer-Daniels-Midland Company has a one year low of $44.92 and a one year high of $66.08. The company has a market cap of $22.05 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.47 and a beta of 0.72.

Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. Archer-Daniels-Midland had a net margin of 2.10% and a return on equity of 10.44%. The company had revenue of $21.50 billion during the quarter, compared to the consensus estimate of $22.77 billion. During the same period in the previous year, the firm posted $1.36 EPS. The firm’s revenue was down 6.4% compared to the same quarter last year. Analysts anticipate that Archer-Daniels-Midland Company will post 4.31 EPS for the current fiscal year.

Archer-Daniels-Midland declared that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that allows the company to repurchase 100,000,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Archer-Daniels-Midland Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 55.40%.

Archer-Daniels-Midland Company 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.