TIAA CREF Investment Management LLC Cuts Position in Archer-Daniels-Midland Company (ADM)

TIAA CREF Investment Management LLC decreased its position in Archer-Daniels-Midland Company (NYSE:ADM) by 6.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,772,918 shares of the company’s stock after selling 118,900 shares during the period. TIAA CREF Investment Management LLC’s holdings in Archer-Daniels-Midland Company were worth $81,625,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ADM. Ledyard National Bank bought a new position in shares of Archer-Daniels-Midland Company during the first quarter worth about $120,000. Zions Bancorporation raised its position in shares of Archer-Daniels-Midland Company by 2.6% in the fourth quarter. Zions Bancorporation now owns 2,916 shares of the company’s stock worth $133,000 after buying an additional 73 shares during the period. Whittier Trust Co. raised its position in shares of Archer-Daniels-Midland Company by 1,221.7% in the first quarter. Whittier Trust Co. now owns 3,172 shares of the company’s stock worth $146,000 after buying an additional 2,932 shares during the period. Independent Advisor Alliance bought a new position in shares of Archer-Daniels-Midland Company during the fourth quarter worth about $184,000. Finally, Lincoln National Corp bought a new position in shares of Archer-Daniels-Midland Company during the first quarter worth about $202,000. 72.82% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Archer-Daniels-Midland Company (ADM) traded down 1.11% during midday trading on Tuesday, reaching $41.97. 473,103 shares of the company’s stock traded hands. Archer-Daniels-Midland Company has a 52-week low of $39.01 and a 52-week high of $47.88. The stock has a market cap of $23.85 billion, a price-to-earnings ratio of 17.77 and a beta of 1.03. The stock has a 50 day moving average of $42.21 and a 200-day moving average of $44.30.

Archer-Daniels-Midland Company (NYSE:ADM) last posted its earnings results on Tuesday, May 2nd. The company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.01. Archer-Daniels-Midland Company had a return on equity of 7.88% and a net margin of 2.21%. The firm had revenue of $14.99 billion for the quarter, compared to analyst estimates of $15.15 billion. During the same period in the prior year, the business posted $0.42 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts expect that Archer-Daniels-Midland Company will post $2.69 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 8th. Stockholders of record on Thursday, May 18th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Tuesday, May 16th. Archer-Daniels-Midland Company’s dividend payout ratio is currently 53.78%.

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A number of brokerages recently issued reports on ADM. Argus lowered shares of Archer-Daniels-Midland Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 1st. Credit Suisse Group set a $46.00 target price on shares of Archer-Daniels-Midland Company and gave the stock a “hold” rating in a research report on Wednesday, March 1st. Stifel Nicolaus dropped their target price on shares of Archer-Daniels-Midland Company from $46.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, April 4th. Vetr raised shares of Archer-Daniels-Midland Company from a “buy” rating to a “strong-buy” rating and set a $46.76 target price on the stock in a research report on Wednesday, May 31st. Finally, Zacks Investment Research lowered shares of Archer-Daniels-Midland Company from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Archer-Daniels-Midland Company has a consensus rating of “Hold” and a consensus target price of $46.97.

Archer-Daniels-Midland Company Company Profile

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:ADM).

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