Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 755,647 shares of the company’s stock after selling 50,385 shares during the quarter. Van ECK Associates Corp’s holdings in Archer-Daniels-Midland were worth $54,573,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Orion Capital Management LLC acquired a new stake in Archer-Daniels-Midland during the 3rd quarter worth about $28,000. Tompkins Financial Corp purchased a new stake in Archer-Daniels-Midland in the third quarter valued at approximately $28,000. Legacy Financial Group LLC acquired a new position in Archer-Daniels-Midland in the 3rd quarter worth approximately $30,000. Operose Advisors LLC purchased a new position in Archer-Daniels-Midland during the 3rd quarter worth approximately $30,000. Finally, Strengthening Families & Communities LLC lifted its stake in Archer-Daniels-Midland by 37.3% during the 3rd quarter. Strengthening Families & Communities LLC now owns 641 shares of the company’s stock valued at $48,000 after acquiring an additional 174 shares during the period. Institutional investors and hedge funds own 78.28% of the company’s stock.

Archer-Daniels-Midland Price Performance

ADM traded down $2.22 during midday trading on Tuesday, hitting $58.47. 2,006,138 shares of the company traded hands, compared to its average volume of 5,834,957. The company has a market capitalization of $29.34 billion, a price-to-earnings ratio of 9.48 and a beta of 0.77. The business has a 50 day simple moving average of $59.21 and a two-hundred day simple moving average of $65.04. The company has a current ratio of 1.60, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34. Archer-Daniels-Midland Company has a 52-week low of $50.72 and a 52-week high of $87.30.

Archer-Daniels-Midland declared that its board has authorized a stock repurchase plan on Tuesday, March 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. StockNews.com cut shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Citigroup boosted their price objective on Archer-Daniels-Midland from $63.00 to $64.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. TheStreet lowered Archer-Daniels-Midland from a “b-” rating to a “c+” rating in a report on Monday, February 12th. Roth Mkm downgraded Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and decreased their price target for the company from $98.00 to $66.00 in a report on Monday, January 22nd. Finally, Argus lowered Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.50.

Archer-Daniels-Midland Profile

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.