AdvisorNet Financial Inc Trims Position in Archer-Daniels-Midland Company (NYSE:ADM)

AdvisorNet Financial Inc lessened its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 22.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,170 shares of the company’s stock after selling 332 shares during the period. AdvisorNet Financial Inc’s holdings in Archer-Daniels-Midland were worth $59,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Empower Advisory Group LLC raised its holdings 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 acquiring an additional 68,133 shares during the period. Nordea Investment Management AB raised its holdings 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 acquiring an additional 489,217 shares during the period. Kieckhefer Group LLC purchased a new position in shares of Archer-Daniels-Midland during the 4th quarter worth $2,339,000. Pacer Advisors Inc. raised its holdings in shares of Archer-Daniels-Midland by 6.4% during the 3rd quarter. Pacer Advisors Inc. now owns 8,086,446 shares of the company’s stock worth $483,084,000 after acquiring an additional 489,554 shares during the period. Finally, Marathon Asset Management Ltd raised its holdings in shares of Archer-Daniels-Midland by 4.5% during the 3rd quarter. Marathon Asset Management Ltd now owns 303,155 shares of the company’s stock worth $18,110,000 after acquiring an additional 13,177 shares during the period. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ADM shares. Barclays reduced their price objective on shares of Archer-Daniels-Midland from $60.00 to $56.00 and set an “underweight” rating on the stock in a report on Wednesday, December 4th. BMO Capital Markets reduced their price objective on shares of Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating on the stock in a report on Wednesday, December 4th. Stephens started coverage on shares of Archer-Daniels-Midland in a report on Wednesday, December 11th. They issued an “equal weight” rating and a $55.00 price objective on the stock. Bank of America lowered shares of Archer-Daniels-Midland from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $63.00 to $54.00 in a report on Tuesday, January 14th. Finally, 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 report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Archer-Daniels-Midland has an average rating of “Hold” and an average target price of $59.08.

Archer-Daniels-Midland Stock Performance

Shares of Archer-Daniels-Midland stock opened at $51.23 on Friday. Archer-Daniels-Midland Company has a one year low of $48.40 and a one year high of $68.85. The company has a market cap of $24.52 billion, a PE ratio of 14.64 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 1.40. The business has a 50-day simple moving average of $51.73 and a 200-day simple moving average of $56.87.

Archer-Daniels-Midland declared that its Board of Directors has approved a share buyback program on Wednesday, December 11th that authorizes the company to buyback 100,000,000 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Archer-Daniels-Midland Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date was Thursday, November 21st. Archer-Daniels-Midland’s dividend payout ratio is presently 57.14%.

About Archer-Daniels-Midland

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.