Independent Advisor Alliance Increases Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

Independent Advisor Alliance grew its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 20.1% in the third quarter, Holdings Channel reports. The fund owned 32,746 shares of the company’s stock after purchasing an additional 5,479 shares during the period. Independent Advisor Alliance’s holdings in Archer-Daniels-Midland were worth $1,956,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Harbor Capital Advisors Inc. acquired a new stake in Archer-Daniels-Midland during the third quarter worth $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Archer-Daniels-Midland during the 3rd quarter worth about $26,000. Riverview Trust Co purchased a new stake in Archer-Daniels-Midland in the 2nd quarter valued at about $27,000. Altshuler Shaham Ltd acquired a new position in Archer-Daniels-Midland in the second quarter valued at about $28,000. Finally, Peterson Financial Group Inc. purchased a new position in Archer-Daniels-Midland during the third quarter worth about $28,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Stock Performance

Shares of ADM opened at $53.72 on Wednesday. The stock has a 50-day simple moving average of $56.31 and a 200-day simple moving average of $59.38. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 1.40. Archer-Daniels-Midland Company has a 1 year low of $48.92 and a 1 year high of $77.35. The stock has a market capitalization of $25.71 billion, a PE ratio of 15.35 and a beta of 0.73.

Archer-Daniels-Midland Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.72%. The ex-dividend date is Thursday, November 21st. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 57.14%.

Insider Activity

In related news, CEO Juan R. Luciano sold 45,471 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $61.00, for a total transaction of $2,773,731.00. Following the completion of the sale, the chief executive officer now owns 265,210 shares in the company, valued at $16,177,810. The trade was a 14.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

ADM has been the topic of a number of research analyst reports. Morgan Stanley reduced their price target on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. UBS Group upped their price target on Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. raised their price target on Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to data from MarketBeat, Archer-Daniels-Midland currently has a consensus rating of “Hold” and an average target price of $62.83.

Archer-Daniels-Midland Company 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.