Archer-Daniels-Midland Company (NYSE:ADM) Shares Acquired by SlateStone Wealth LLC

SlateStone Wealth LLC lifted its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 22.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,858 shares of the company’s stock after buying an additional 5,338 shares during the quarter. SlateStone Wealth LLC’s holdings in Archer-Daniels-Midland were worth $2,084,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB increased its position in Archer-Daniels-Midland by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,227,250 shares of the company’s stock worth $88,534,000 after purchasing an additional 139,064 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Archer-Daniels-Midland by 3.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,072,606 shares of the company’s stock worth $80,896,000 after purchasing an additional 31,700 shares in the last quarter. Pathstone Family Office LLC grew its holdings in Archer-Daniels-Midland by 543.2% in the 3rd quarter. Pathstone Family Office LLC now owns 28,000 shares of the company’s stock valued at $2,112,000 after buying an additional 23,647 shares during the period. Artemis Investment Management LLP grew its holdings in shares of Archer-Daniels-Midland by 12.3% during the 4th quarter. Artemis Investment Management LLP now owns 733,113 shares of the company’s stock worth $52,946,000 after purchasing an additional 80,245 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Archer-Daniels-Midland by 17.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 599,717 shares of the company’s stock worth $43,312,000 after purchasing an additional 87,752 shares during the period. Institutional investors and hedge funds own 78.28% of the company’s stock.

Archer-Daniels-Midland Stock Performance

ADM traded down $1.09 during trading on Wednesday, reaching $60.70. 417,002 shares of the company were exchanged, compared to its average volume of 5,958,746. The stock has a market cap of $30.46 billion, a P/E ratio of 9.66 and a beta of 0.77. The firm has a 50 day moving average of $58.64 and a 200 day moving average of $65.40. The company has a current ratio of 1.60, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34. Archer-Daniels-Midland Company has a 52 week low of $50.72 and a 52 week high of $87.30.

Archer-Daniels-Midland (NYSE:ADM) last released its quarterly earnings results 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). Archer-Daniels-Midland had a return on equity of 15.25% and a net margin of 3.71%. The business had revenue of $22.98 billion during the quarter, compared to the consensus estimate of $23.79 billion. During the same period in the previous year, the company posted $1.93 EPS. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that Archer-Daniels-Midland Company will post 5.48 EPS 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. Stockholders of record on Thursday, February 8th were paid a $0.50 dividend. This is a boost from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, February 7th. This represents a $2.00 annualized dividend and a dividend yield of 3.29%. Archer-Daniels-Midland’s dividend payout ratio is presently 31.25%.

Archer-Daniels-Midland declared that its board has initiated a stock buyback program on Tuesday, March 12th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on ADM shares. Stifel Nicolaus cut Archer-Daniels-Midland from a “buy” rating to a “hold” rating and decreased their target price for the stock from $116.00 to $56.00 in a report on Monday, January 22nd. Barclays lowered Archer-Daniels-Midland from an “overweight” rating to an “underweight” rating and set a $60.00 target price on the stock. in a research report on Monday, January 22nd. Argus lowered Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Roth Capital lowered Archer-Daniels-Midland from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. Finally, Bank of America cut their target price on Archer-Daniels-Midland from $85.00 to $74.00 and set a “neutral” rating on the stock in a research report on Thursday, March 14th. One research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the stock. Based on data from MarketBeat.com, Archer-Daniels-Midland currently has an average rating of “Hold” and an average target price of $67.50.

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.