Pacer Advisors Inc. purchased a new stake in Archer Daniels Midland Co (NYSE:ADM) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 69,388 shares of the company’s stock, valued at approximately $2,769,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Commerce Bank boosted its holdings in shares of Archer Daniels Midland by 2.4% in the first quarter. Commerce Bank now owns 33,709 shares of the company’s stock valued at $1,186,000 after acquiring an additional 780 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Archer Daniels Midland by 132.5% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 102,989 shares of the company’s stock worth $3,623,000 after purchasing an additional 58,700 shares during the period. Schroder Investment Management Group raised its position in Archer Daniels Midland by 152.2% in the first quarter. Schroder Investment Management Group now owns 15,257 shares of the company’s stock worth $546,000 after acquiring an additional 9,208 shares in the last quarter. Cypress Capital Group raised its position in Archer Daniels Midland by 43.0% in the second quarter. Cypress Capital Group now owns 15,892 shares of the company’s stock worth $634,000 after acquiring an additional 4,781 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in Archer Daniels Midland by 8.3% in the first quarter. Private Advisor Group LLC now owns 14,350 shares of the company’s stock worth $505,000 after acquiring an additional 1,101 shares in the last quarter. 76.39% of the stock is owned by hedge funds and other institutional investors.
Shares of ADM stock opened at $42.83 on Friday. Archer Daniels Midland Co has a fifty-two week low of $28.92 and a fifty-two week high of $47.20. The stock has a market cap of $23.79 billion, a P/E ratio of 13.60 and a beta of 0.93. The business has a fifty day simple moving average of $40.26 and a 200-day simple moving average of $39.19. The company has a quick ratio of 1.00, a current ratio of 18.35 and a debt-to-equity ratio of 0.45.
In related news, SVP Christopher M. Cuddy sold 1,929 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $42.76, for a total transaction of $82,484.04. Following the sale, the senior vice president now owns 169,264 shares of the company’s stock, valued at $7,237,728.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Pierre Dufour acquired 1,070 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average cost of $35.20 per share, for a total transaction of $37,664.00. Following the purchase, the director now owns 7,700 shares of the company’s stock, valued at $271,040. The disclosure for this purchase can be found here. 1.27% of the stock is owned by company insiders.
Several research analysts have issued reports on ADM shares. Barclays started coverage on Archer Daniels Midland in a research report on Tuesday, June 30th. They issued an “overweight” rating and a $52.00 price objective for the company. Zacks Investment Research cut Archer Daniels Midland from a “buy” rating to a “hold” rating and set a $37.00 price objective for the company. in a research report on Monday, April 6th. Stifel Nicolaus cut their price objective on Archer Daniels Midland from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Stephens started coverage on Archer Daniels Midland in a research report on Thursday, July 9th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, ValuEngine cut Archer Daniels Midland from a “sell” rating to a “strong sell” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $44.11.
Archer Daniels Midland 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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