Principle Wealth Partners LLC Acquires 1,467 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Principle Wealth Partners LLC raised its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 4.6% in the fourth quarter, Holdings Channel reports. The firm owned 33,206 shares of the company’s stock after purchasing an additional 1,467 shares during the period. Principle Wealth Partners LLC’s holdings in Archer-Daniels-Midland were worth $2,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its stake in shares of Archer-Daniels-Midland by 119.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,077 shares of the company’s stock worth $81,000 after acquiring an additional 586 shares during the period. Simplicity Solutions LLC grew its stake in shares of Archer-Daniels-Midland by 41.8% during the 3rd quarter. Simplicity Solutions LLC now owns 11,669 shares of the company’s stock worth $880,000 after acquiring an additional 3,438 shares during the period. U.S. Capital Wealth Advisors LLC grew its stake in shares of Archer-Daniels-Midland by 6.8% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 14,132 shares of the company’s stock worth $1,066,000 after acquiring an additional 902 shares during the period. Valeo Financial Advisors LLC bought a new position in shares of Archer-Daniels-Midland during the 3rd quarter worth $406,000. Finally, Ascent Wealth Partners LLC bought a new position in shares of Archer-Daniels-Midland during the 3rd quarter worth $247,000. Institutional investors own 78.28% of the company’s stock.

Analysts Set New Price Targets

ADM has been the subject of several research reports. Barclays downgraded Archer-Daniels-Midland from an “overweight” rating to an “underweight” rating and set a $60.00 price target for the company. in a research note on Monday, January 22nd. Roth Capital cut Archer-Daniels-Midland from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. Robert W. Baird cut Archer-Daniels-Midland from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $96.00 to $61.00 in a report on Monday, January 22nd. Stifel Nicolaus cut Archer-Daniels-Midland from a “buy” rating to a “hold” rating and lowered their price target for the company from $116.00 to $56.00 in a report on Monday, January 22nd. Finally, The Goldman Sachs Group cut Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and lowered their price target for the company from $90.00 to $67.00 in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.50.

Archer-Daniels-Midland Price Performance

Shares of Archer-Daniels-Midland stock opened at $60.10 on Monday. The business’s 50-day moving average price is $59.07 and its 200-day moving average price is $65.13. 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 12 month low of $50.72 and a 12 month high of $87.30. The firm has a market capitalization of $30.16 billion, a PE ratio of 9.39 and a beta of 0.77.

Archer-Daniels-Midland announced that its Board of Directors has authorized a share buyback program on Tuesday, March 12th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

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.