EverSource Wealth Advisors LLC Trims Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

EverSource Wealth Advisors LLC trimmed its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,718 shares of the company’s stock after selling 799 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Archer-Daniels-Midland were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Aigen Investment Management LP purchased a new position in Archer-Daniels-Midland during the fourth quarter worth about $4,424,000. Quest Partners LLC purchased a new position in Archer-Daniels-Midland during the fourth quarter worth about $527,000. Corient Private Wealth LLC grew its position in Archer-Daniels-Midland by 5.3% during the fourth quarter. Corient Private Wealth LLC now owns 208,603 shares of the company’s stock worth $15,065,000 after buying an additional 10,553 shares in the last quarter. Sachetta LLC purchased a new position in Archer-Daniels-Midland during the fourth quarter worth about $38,000. Finally, Norges Bank purchased a new position in Archer-Daniels-Midland during the fourth quarter worth about $420,457,000. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ADM shares. Jefferies Financial Group cut their price objective on Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, March 13th. TheStreet cut Archer-Daniels-Midland from a “b-” rating to a “c+” rating in a report on Monday, February 12th. Citigroup boosted their target price on Archer-Daniels-Midland from $63.00 to $64.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. BMO Capital Markets lowered their target price on Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating for the company in a research note on Wednesday, March 13th. Finally, Bank of America lowered their target price on Archer-Daniels-Midland from $85.00 to $74.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $67.50.

Insider Buying and Selling at Archer-Daniels-Midland

In other Archer-Daniels-Midland news, insider Fruit Molly L. Strader sold 6,904 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $60.73, for a total transaction of $419,279.92. Following the sale, the insider now directly owns 8,555 shares in the company, valued at approximately $519,545.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Archer-Daniels-Midland Stock Down 0.1 %

Shares of NYSE:ADM traded down $0.07 during trading on Friday, hitting $60.65. The stock had a trading volume of 299,748 shares, compared to its average volume of 5,480,673. Archer-Daniels-Midland Company has a 12 month low of $50.72 and a 12 month high of $87.30. The company has a market capitalization of $29.99 billion, a PE ratio of 10.65 and a beta of 0.78. The firm’s fifty day moving average is $61.57 and its 200 day moving average is $63.71. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.35.

Archer-Daniels-Midland (NYSE:ADM) last announced its earnings results on Tuesday, April 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.11. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. The firm had revenue of $21.85 billion during the quarter, compared to analyst estimates of $22.26 billion. During the same quarter in the prior year, the company earned $2.09 EPS. The business’s revenue was down 9.2% compared to the same quarter last year. Analysts anticipate that Archer-Daniels-Midland Company will post 5.61 EPS for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.00 annualized dividend and a yield of 3.30%. Archer-Daniels-Midland’s dividend payout ratio is 35.09%.

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

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.