Verity & Verity LLC lifted its position in Archer Daniels Midland Co (NYSE:ADM) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,796 shares of the company’s stock after purchasing an additional 8,370 shares during the quarter. Archer Daniels Midland accounts for 1.8% of Verity & Verity LLC’s portfolio, making the stock its 21st largest position. Verity & Verity LLC’s holdings in Archer Daniels Midland were worth $8,673,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Macquarie Group Ltd. raised its stake in shares of Archer Daniels Midland by 7.0% in the second quarter. Macquarie Group Ltd. now owns 17,540,310 shares of the company’s stock valued at $715,644,000 after purchasing an additional 1,150,528 shares in the last quarter. Northern Trust Corp raised its stake in Archer Daniels Midland by 2.5% during the second quarter. Northern Trust Corp now owns 12,482,054 shares of the company’s stock worth $509,269,000 after acquiring an additional 299,959 shares in the last quarter. Invesco Ltd. raised its stake in Archer Daniels Midland by 18.3% during the second quarter. Invesco Ltd. now owns 9,786,015 shares of the company’s stock worth $399,269,000 after acquiring an additional 1,514,686 shares in the last quarter. Victory Capital Management Inc. raised its stake in Archer Daniels Midland by 19.3% during the second quarter. Victory Capital Management Inc. now owns 8,848,747 shares of the company’s stock worth $361,029,000 after acquiring an additional 1,429,251 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Archer Daniels Midland by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 7,741,992 shares of the company’s stock worth $315,873,000 after acquiring an additional 43,130 shares in the last quarter. Institutional investors and hedge funds own 76.08% of the company’s stock.
Archer Daniels Midland stock traded up $0.69 during mid-day trading on Friday, hitting $40.46. 2,712,971 shares of the company were exchanged, compared to its average volume of 3,570,931. The company has a quick ratio of 0.89, a current ratio of 1.55 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average of $39.59 and a 200 day moving average of $40.63. Archer Daniels Midland Co has a 1-year low of $36.45 and a 1-year high of $49.77. The company has a market capitalization of $22.46 billion, a PE ratio of 11.56 and a beta of 1.07.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Wednesday, August 21st. Archer Daniels Midland’s payout ratio is presently 40.00%.
Several research firms have issued reports on ADM. Stifel Nicolaus dropped their price objective on Archer Daniels Midland from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Stephens began coverage on Archer Daniels Midland in a research note on Monday. They set an “overweight” rating and a $50.00 price objective for the company. ValuEngine upgraded Archer Daniels Midland from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st. Buckingham Research dropped their price objective on Archer Daniels Midland from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Finally, Robert W. Baird set a $48.00 price objective on Archer Daniels Midland and gave the stock a “buy” rating in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $49.75.
In other Archer Daniels Midland news, CFO Ray G. Young bought 3,400 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were bought at an average price of $36.74 per share, for a total transaction of $124,916.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Juan R. Luciano bought 5,457 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $36.65 per share, for a total transaction of $199,999.05. The disclosure for this purchase can be found here. 1.11% of the stock is currently owned by corporate insiders.
Archer Daniels Midland Company Profile
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. The company operates through four segments: Origination, Oilseeds, Carbohydrate Solutions, and Nutrition. It buys, stores, cleans, and transports agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, as well as resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry.
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