Praxis Investment Management Inc. Lowers Stake in Archer Daniels Midland Company (NYSE:ADM)

Praxis Investment Management Inc. trimmed its position in Archer Daniels Midland Company (NYSE:ADM) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,820 shares of the company’s stock after selling 3,260 shares during the quarter. Praxis Investment Management Inc.’s holdings in Archer Daniels Midland were worth $1,048,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Archer Daniels Midland during the fourth quarter worth approximately $333,521,000. Wellington Management Group LLP lifted its holdings in shares of Archer Daniels Midland by 8.9% during the 4th quarter. Wellington Management Group LLP now owns 21,152,539 shares of the company’s stock valued at $1,068,626,000 after acquiring an additional 1,722,428 shares in the last quarter. Invesco Ltd. boosted its position in Archer Daniels Midland by 24.8% during the 4th quarter. Invesco Ltd. now owns 7,145,818 shares of the company’s stock worth $361,007,000 after purchasing an additional 1,420,625 shares during the period. Amundi increased its holdings in Archer Daniels Midland by 56.7% in the 4th quarter. Amundi now owns 2,473,393 shares of the company’s stock valued at $123,340,000 after purchasing an additional 894,562 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its position in Archer Daniels Midland by 56.8% in the fourth quarter. Voloridge Investment Management LLC now owns 2,328,942 shares of the company’s stock valued at $117,658,000 after purchasing an additional 843,662 shares during the period. 78.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ADM shares. Citigroup decreased their target price on Archer Daniels Midland from $51.00 to $49.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Bank of America cut Archer Daniels Midland from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $47.00 to $45.00 in a report on Thursday, May 8th. UBS Group upgraded shares of Archer Daniels Midland from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $60.00 in a research note on Monday, May 19th. Finally, Barclays decreased their target price on shares of Archer Daniels Midland from $50.00 to $48.00 and set an “underweight” rating for the company in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Archer Daniels Midland has a consensus rating of “Hold” and an average price target of $52.00.

Archer Daniels Midland Stock Performance

Shares of ADM opened at $53.63 on Friday. The firm has a market cap of $25.77 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.98 and a beta of 0.67. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $48.89 and its two-hundred day moving average is $48.68. Archer Daniels Midland Company has a 52-week low of $40.98 and a 52-week high of $66.08.

Archer Daniels Midland (NYSE:ADM) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $20.18 billion for the quarter, compared to the consensus estimate of $22.05 billion. Archer Daniels Midland had a net margin of 1.63% and a return on equity of 8.71%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. Analysts forecast that Archer Daniels Midland Company will post 4.31 EPS for the current fiscal year.

Archer Daniels Midland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 21st were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.80%. The ex-dividend date was Wednesday, May 21st. Archer Daniels Midland’s payout ratio is currently 72.86%.

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.