Archer-Daniels-Midland Company (NYSE:ADM) Position Reduced by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ lessened its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 21.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,597 shares of the company’s stock after selling 980 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Archer-Daniels-Midland were worth $260,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ADM. Norges Bank bought a new stake in Archer-Daniels-Midland during the fourth quarter valued at $525,111,000. Morgan Stanley grew its position in Archer-Daniels-Midland by 41.8% in the 3rd quarter. Morgan Stanley now owns 8,641,438 shares of the company’s stock valued at $651,737,000 after buying an additional 2,547,232 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Archer-Daniels-Midland during the 1st quarter valued at about $105,741,000. Deutsche Bank AG boosted its holdings in shares of Archer-Daniels-Midland by 73.7% in the first quarter. Deutsche Bank AG now owns 2,935,163 shares of the company’s stock worth $233,815,000 after buying an additional 1,245,194 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Archer-Daniels-Midland by 27,778.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,009,197 shares of the company’s stock worth $76,114,000 after buying an additional 1,005,577 shares during the period. Institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Stock Performance

Shares of NYSE:ADM traded up $0.95 during trading on Thursday, reaching $61.37. The stock had a trading volume of 850,979 shares, compared to its average volume of 6,048,774. Archer-Daniels-Midland Company has a 52 week low of $50.72 and a 52 week high of $87.30. The firm has a market capitalization of $30.79 billion, a price-to-earnings ratio of 9.44 and a beta of 0.77. The company has a quick ratio of 0.95, a current ratio of 1.60 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $57.91 and a two-hundred day simple moving average of $65.77.

Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings data on Tuesday, March 12th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.07). The company had revenue of $22.98 billion during the quarter, compared to analyst estimates of $23.79 billion. Archer-Daniels-Midland had a return on equity of 15.25% and a net margin of 3.71%. The company’s revenue was down 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 EPS. As a group, analysts anticipate that Archer-Daniels-Midland Company will post 5.48 earnings per share for the current fiscal year.

Archer-Daniels-Midland Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 8th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.26%. The ex-dividend date was Wednesday, February 7th. This is a positive change from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. Archer-Daniels-Midland’s dividend payout ratio is 31.25%.

Archer-Daniels-Midland declared that its board has approved a stock buyback program on Tuesday, March 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have commented on ADM shares. Argus cut shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Robert W. Baird lowered shares of Archer-Daniels-Midland from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $96.00 to $61.00 in a research report on Monday, January 22nd. Roth Mkm lowered shares of Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $98.00 to $66.00 in a research report on Monday, January 22nd. Roth Capital lowered shares of Archer-Daniels-Midland from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. Finally, Barclays lowered shares of Archer-Daniels-Midland from an “overweight” rating to an “underweight” rating and set a $60.00 price target for the company. in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $67.50.

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.