DAVENPORT & Co LLC Sells 2,180 Shares of Archer Daniels Midland Company $ADM

DAVENPORT & Co LLC cut its stake in shares of Archer Daniels Midland Company (NYSE:ADM) by 10.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,420 shares of the company’s stock after selling 2,180 shares during the period. DAVENPORT & Co LLC’s holdings in Archer Daniels Midland were worth $972,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Beacon Financial Advisory LLC lifted its position in shares of Archer Daniels Midland by 1.0% during the 2nd quarter. Beacon Financial Advisory LLC now owns 18,505 shares of the company’s stock valued at $977,000 after buying an additional 185 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new stake in Archer Daniels Midland during the 2nd quarter worth approximately $276,000. Cromwell Holdings LLC raised its stake in Archer Daniels Midland by 70.7% during the 2nd quarter. Cromwell Holdings LLC now owns 1,449 shares of the company’s stock worth $76,000 after acquiring an additional 600 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Archer Daniels Midland by 10.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 508,956 shares of the company’s stock worth $26,863,000 after purchasing an additional 49,954 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. increased its stake in shares of Archer Daniels Midland by 0.6% in the second quarter. ASR Vermogensbeheer N.V. now owns 152,223 shares of the company’s stock worth $8,034,000 after purchasing an additional 959 shares in the last quarter. Institutional investors own 78.28% of the company’s stock.

Archer Daniels Midland Trading Down 0.7%

ADM opened at $60.86 on Friday. The firm has a market cap of $29.24 billion, a P/E ratio of 26.81, a P/E/G ratio of 3.27 and a beta of 0.70. Archer Daniels Midland Company has a 12 month low of $40.98 and a 12 month high of $64.38. The company has a current ratio of 1.42, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average of $60.78 and a 200 day moving average of $53.76.

Archer Daniels Midland (NYSE:ADM) last posted its quarterly earnings data on Monday, December 2nd. The company reported $1.63 earnings per share (EPS) for the quarter. Archer Daniels Midland had a return on equity of 8.43% and a net margin of 1.33%.The business had revenue of $21.70 billion during the quarter. As a group, research analysts forecast that Archer Daniels Midland Company will post 4.31 EPS for the current year.

Archer Daniels Midland Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.4%. Archer Daniels Midland’s payout ratio is currently 89.87%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ADM shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Archer Daniels Midland in a report on Wednesday. Wall Street Zen upgraded Archer Daniels Midland from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Morgan Stanley lifted their target price on Archer Daniels Midland from $47.00 to $57.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. assumed coverage on Archer Daniels Midland in a research note on Wednesday, August 20th. They set a “neutral” rating and a $61.00 target price on the stock. Finally, Barclays raised shares of Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $50.00 to $61.00 in a report on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.50.

About Archer Daniels Midland

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.