Gateway Investment Advisers LLC boosted its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 75.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,236 shares of the company's stock after buying an additional 9,968 shares during the period. Gateway Investment Advisers LLC's holdings in Archer-Daniels-Midland were worth $1,174,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. West Financial Advisors LLC boosted its position in shares of Archer-Daniels-Midland by 10.1% in the fourth quarter. West Financial Advisors LLC now owns 2,201 shares of the company's stock worth $111,000 after buying an additional 201 shares during the period. Stolper Co lifted its stake in Archer-Daniels-Midland by 1.5% in the 4th quarter. Stolper Co now owns 33,416 shares of the company's stock worth $1,688,000 after acquiring an additional 483 shares in the last quarter. Park Avenue Securities LLC grew its stake in Archer-Daniels-Midland by 9.0% during the 4th quarter. Park Avenue Securities LLC now owns 9,016 shares of the company's stock valued at $455,000 after acquiring an additional 744 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Archer-Daniels-Midland by 21.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 445,589 shares of the company's stock valued at $22,511,000 after purchasing an additional 79,230 shares during the period. Finally, Rockland Trust Co. lifted its position in shares of Archer-Daniels-Midland by 27.7% in the fourth quarter. Rockland Trust Co. now owns 14,561 shares of the company's stock worth $736,000 after purchasing an additional 3,161 shares in the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on ADM. Bank of America lowered shares of Archer-Daniels-Midland from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $63.00 to $54.00 in a research note on Tuesday, January 14th. BMO Capital Markets dropped their price target on shares of Archer-Daniels-Midland from $55.00 to $51.00 and set a "market perform" rating on the stock in a research note on Wednesday, December 4th. Barclays reduced their price objective on Archer-Daniels-Midland from $60.00 to $56.00 and set an "underweight" rating for the company in a research report on Wednesday, December 4th. Morgan Stanley dropped their target price on Archer-Daniels-Midland from $57.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 12th. Finally, Stephens started coverage on Archer-Daniels-Midland in a report on Wednesday, December 11th. They set an "equal weight" rating and a $55.00 price target for the company. Two equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $59.08.
View Our Latest Stock Analysis on Archer-Daniels-Midland
Shares of NYSE:ADM traded up $0.22 during midday trading on Friday, hitting $51.23. The company's stock had a trading volume of 3,234,014 shares, compared to its average volume of 2,508,151. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 1.40. The stock's 50 day simple moving average is $51.73 and its 200 day simple moving average is $56.87. The stock has a market capitalization of $24.52 billion, a price-to-earnings ratio of 14.64 and a beta of 0.72. Archer-Daniels-Midland Company has a fifty-two week low of $48.40 and a fifty-two week high of $68.85.
Archer-Daniels-Midland announced that its Board of Directors has initiated a stock repurchase program on Wednesday, December 11th that authorizes the company to repurchase 100,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Thursday, November 21st. Archer-Daniels-Midland's dividend payout ratio is currently 57.14%.
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.
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