Korea Investment CORP increased its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 12.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,846 shares of the company’s stock after buying an additional 22,314 shares during the period. Korea Investment CORP’s holdings in Archer-Daniels-Midland were worth $8,145,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in ADM. Vanguard Group Inc. raised its stake in Archer-Daniels-Midland by 4.0% in the first quarter. Vanguard Group Inc. now owns 43,397,849 shares of the company’s stock valued at $1,998,037,000 after buying an additional 1,672,627 shares during the last quarter. BlackRock Inc. raised its stake in Archer-Daniels-Midland by 1,027.8% in the first quarter. BlackRock Inc. now owns 39,248,469 shares of the company’s stock valued at $1,806,998,000 after buying an additional 35,768,331 shares during the last quarter. Macquarie Group Ltd. raised its stake in Archer-Daniels-Midland by 1.2% in the first quarter. Macquarie Group Ltd. now owns 16,974,063 shares of the company’s stock valued at $781,486,000 after buying an additional 207,704 shares during the last quarter. Geode Capital Management LLC raised its stake in Archer-Daniels-Midland by 5.7% in the first quarter. Geode Capital Management LLC now owns 5,327,074 shares of the company’s stock valued at $244,894,000 after buying an additional 287,718 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Archer-Daniels-Midland by 16.6% in the first quarter. Victory Capital Management Inc. now owns 5,239,564 shares of the company’s stock valued at $241,229,000 after buying an additional 745,593 shares during the last quarter. Institutional investors own 73.21% of the company’s stock.
Shares of Archer-Daniels-Midland Company (ADM) opened at 42.49 on Thursday. The stock has a market cap of $23.90 billion, a price-to-earnings ratio of 17.97 and a beta of 1.11. The firm has a 50-day moving average price of $41.57 and a 200-day moving average price of $43.36. Archer-Daniels-Midland Company has a 1-year low of $40.22 and a 1-year high of $47.88.
Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.05. Archer-Daniels-Midland had a return on equity of 8.40% and a net margin of 2.22%. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $15.86 billion. During the same quarter in the prior year, the company posted $0.41 EPS. The company’s quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts forecast that Archer-Daniels-Midland Company will post $2.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 17th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Tuesday, August 15th. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 53.78%.
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ADM has been the topic of several recent research reports. Argus lowered Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a report on Thursday, June 1st. Citigroup Inc. restated a “buy” rating on shares of Archer-Daniels-Midland in a report on Wednesday, July 12th. Zacks Investment Research lowered Archer-Daniels-Midland from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 31st. Vetr upgraded Archer-Daniels-Midland from a “buy” rating to a “strong-buy” rating and set a $46.76 price target on the stock in a report on Monday, May 22nd. Finally, Stifel Nicolaus restated a “hold” rating and set a $40.00 price target (down previously from $41.00) on shares of Archer-Daniels-Midland in a report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $45.10.
Archer-Daniels-Midland Company Profile
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