State of Tennessee Treasury Department Has $24.28 Million Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

State of Tennessee Treasury Department cut its holdings in Archer-Daniels-Midland Company (NYSE:ADMFree Report) by 20.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 336,218 shares of the company’s stock after selling 87,396 shares during the quarter. State of Tennessee Treasury Department’s holdings in Archer-Daniels-Midland were worth $24,282,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Archer-Daniels-Midland during the fourth quarter worth approximately $420,457,000. Morgan Stanley grew its holdings in Archer-Daniels-Midland by 41.8% during the third quarter. Morgan Stanley now owns 8,641,438 shares of the company’s stock worth $651,737,000 after buying an additional 2,547,232 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Archer-Daniels-Midland by 27,778.4% during 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 in the last quarter. AQR Capital Management LLC grew its holdings in Archer-Daniels-Midland by 31.4% during the third quarter. AQR Capital Management LLC now owns 2,864,305 shares of the company’s stock worth $216,026,000 after buying an additional 683,984 shares in the last quarter. Finally, Nomura Holdings Inc. grew its holdings in Archer-Daniels-Midland by 150.1% during the third quarter. Nomura Holdings Inc. now owns 171,629 shares of the company’s stock worth $12,944,000 after buying an additional 513,903 shares in the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADM has been the subject of several recent research reports. Citigroup upped their price target on Archer-Daniels-Midland from $63.00 to $64.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Bank of America reduced their price objective 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. Jefferies Financial Group reduced their price objective on Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating for the company in a research note on Wednesday, March 13th. TheStreet downgraded Archer-Daniels-Midland from a “b-” rating to a “c+” rating in a research note on Monday, February 12th. Finally, BMO Capital Markets reduced their price objective 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. One analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $67.50.

Read Our Latest Report on ADM

Insider Activity at Archer-Daniels-Midland

In related news, insider Fruit Molly L. Strader sold 6,904 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $60.73, for a total transaction of $419,279.92. Following the transaction, the insider now directly owns 8,555 shares of the company’s stock, valued at approximately $519,545.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by insiders.

Archer-Daniels-Midland Stock Performance

NYSE:ADM opened at $61.97 on Tuesday. The business’s 50-day moving average price is $61.41 and its two-hundred day moving average price is $62.55. Archer-Daniels-Midland Company has a twelve month low of $50.72 and a twelve month high of $87.30. The stock has a market cap of $30.64 billion, a P/E ratio of 10.87 and a beta of 0.75. 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:ADMGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.11. The firm had revenue of $21.85 billion for the quarter, compared to analysts’ expectations of $22.26 billion. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. The company’s revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.09 EPS. As a group, equities analysts predict that Archer-Daniels-Midland Company will post 5.61 EPS for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Thursday, May 16th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, May 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.23%. Archer-Daniels-Midland’s dividend payout ratio is 35.09%.

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

Archer-Daniels-Midland Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding ADM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Archer-Daniels-Midland Company (NYSE:ADMFree Report).

Institutional Ownership by Quarter for Archer-Daniels-Midland (NYSE:ADM)

Receive News & Ratings for Archer-Daniels-Midland Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer-Daniels-Midland and related companies with MarketBeat.com's FREE daily email newsletter.