Truist Financial Corp Cuts Position in Archer-Daniels-Midland Company (NYSE:ADM)

Truist Financial Corp lessened its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 6.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,636 shares of the company’s stock after selling 3,922 shares during the quarter. Truist Financial Corp’s holdings in Archer-Daniels-Midland were worth $2,811,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ADM. AustralianSuper Pty Ltd boosted its stake in shares of Archer-Daniels-Midland by 26.4% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,730,182 shares of the company’s stock worth $87,409,000 after purchasing an additional 360,844 shares during the last quarter. Kieckhefer Group LLC acquired a new stake in shares of Archer-Daniels-Midland during the 4th quarter worth about $2,339,000. Empower Advisory Group LLC boosted its stake in shares of Archer-Daniels-Midland by 6.4% during the 3rd quarter. Empower Advisory Group LLC now owns 1,138,455 shares of the company’s stock worth $68,011,000 after purchasing an additional 68,133 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Archer-Daniels-Midland by 30.7% during the 4th quarter. Nordea Investment Management AB now owns 2,082,442 shares of the company’s stock worth $105,163,000 after purchasing an additional 489,217 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Archer-Daniels-Midland during the 4th quarter worth about $1,005,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Trading Up 0.8 %

ADM opened at $48.80 on Wednesday. The firm has a market capitalization of $23.41 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.54 and a beta of 0.72. The firm’s 50 day moving average is $49.35 and its 200-day moving average is $54.16. Archer-Daniels-Midland Company has a 52-week low of $44.92 and a 52-week high of $66.08. The company has a quick ratio of 0.81, a current ratio of 1.39 and a debt-to-equity ratio of 0.34.

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, beating analysts’ consensus estimates of $1.07 by $0.07. The company had revenue of $21.50 billion for the quarter, compared to analyst estimates of $22.77 billion. Archer-Daniels-Midland had a net margin of 2.10% and a return on equity of 10.44%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 earnings per share. Analysts expect that Archer-Daniels-Midland Company will post 4.31 EPS for the current fiscal year.

Archer-Daniels-Midland announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that authorizes the company to repurchase 100,000,000 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Archer-Daniels-Midland Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Tuesday, February 18th. This is a positive change from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. Archer-Daniels-Midland’s payout ratio is 56.51%.

Wall Street Analyst Weigh In

ADM has been the topic of several analyst reports. Stephens decreased their price target on shares of Archer-Daniels-Midland from $55.00 to $52.00 in a research note on Tuesday, February 4th. Citigroup raised their target price on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Barclays decreased their target price on shares of Archer-Daniels-Midland from $50.00 to $48.00 and set an “underweight” rating on the stock in a research report on Monday. Bank of America decreased their target price on shares of Archer-Daniels-Midland from $54.00 to $48.00 and set an “underperform” rating on the stock in a research report on Tuesday, February 11th. Finally, Morgan Stanley decreased their target price on shares of Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $54.89.

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.