OVERSEA CHINESE BANKING Corp Ltd Buys New Position in Archer Daniels Midland Company (NYSE:ADM)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Archer Daniels Midland Company (NYSE:ADM) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,200 shares of the company’s stock, valued at approximately $394,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADM. HighTower Advisors LLC increased its holdings in Archer Daniels Midland by 4.2% during the 4th quarter. HighTower Advisors LLC now owns 82,203 shares of the company’s stock worth $4,153,000 after purchasing an additional 3,291 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Archer Daniels Midland by 26.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 10,366 shares of the company’s stock valued at $524,000 after acquiring an additional 2,183 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Archer Daniels Midland by 5.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 211,475 shares of the company’s stock valued at $10,684,000 after acquiring an additional 11,817 shares during the last quarter. GWN Securities Inc. bought a new stake in shares of Archer Daniels Midland in the 4th quarter valued at approximately $238,000. Finally, Cibc World Markets Corp increased its holdings in shares of Archer Daniels Midland by 14.4% in the 4th quarter. Cibc World Markets Corp now owns 187,582 shares of the company’s stock valued at $9,477,000 after acquiring an additional 23,679 shares during the last quarter. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Bank of America downgraded Archer Daniels Midland from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $47.00 to $45.00 in a report on Thursday, May 8th. Citigroup reduced their price objective 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. Barclays increased their price target on Archer Daniels Midland from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 2nd. Finally, UBS Group raised Archer Daniels Midland from a “neutral” rating to a “buy” rating and increased their price target for the stock from $55.00 to $60.00 in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Archer Daniels Midland presently has a consensus rating of “Hold” and a consensus price target of $52.25.

Archer Daniels Midland Trading Down 0.9%

Shares of Archer Daniels Midland stock opened at $53.80 on Wednesday. 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 firm has a market cap of $25.85 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 3.03 and a beta of 0.69. The business has a fifty day simple moving average of $51.02 and a 200-day simple moving average of $49.00. Archer Daniels Midland Company has a fifty-two week low of $40.98 and a fifty-two week high of $66.08.

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

Archer Daniels Midland Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 21st were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Wednesday, May 21st. Archer Daniels Midland’s dividend payout ratio is 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.