State of New Jersey Common Pension Fund D Sells 9,052 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

State of New Jersey Common Pension Fund D decreased its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 173,852 shares of the company’s stock after selling 9,052 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Archer-Daniels-Midland were worth $8,783,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Archer-Daniels-Midland by 3.3% during the 3rd quarter. State Street Corp now owns 32,045,672 shares of the company’s stock valued at $1,914,408,000 after purchasing an additional 1,018,256 shares during the period. Wellington Management Group LLP raised its position in shares of Archer-Daniels-Midland by 41.5% during the 3rd quarter. Wellington Management Group LLP now owns 19,430,111 shares of the company’s stock valued at $1,160,755,000 after purchasing an additional 5,702,451 shares during the period. Pacer Advisors Inc. raised its position in shares of Archer-Daniels-Midland by 28.4% during the 4th quarter. Pacer Advisors Inc. now owns 10,382,639 shares of the company’s stock valued at $524,531,000 after purchasing an additional 2,296,193 shares during the period. FMR LLC raised its position in shares of Archer-Daniels-Midland by 33.9% during the 3rd quarter. FMR LLC now owns 3,979,867 shares of the company’s stock valued at $237,757,000 after purchasing an additional 1,007,494 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Archer-Daniels-Midland by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,607,843 shares of the company’s stock valued at $215,533,000 after purchasing an additional 63,883 shares during the period. Institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Stock Performance

Shares of NYSE:ADM opened at $45.90 on Wednesday. Archer-Daniels-Midland Company has a 52 week low of $44.92 and a 52 week high of $66.08. The stock has a market capitalization of $21.96 billion, a P/E ratio of 12.71 and a beta of 0.72. The firm has a fifty day simple moving average of $49.94 and a two-hundred day simple moving average of $54.62. The company has a quick ratio of 0.84, a current ratio of 5.44 and a debt-to-equity ratio of 0.37.

Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. Archer-Daniels-Midland had a net margin of 2.10% and a return on equity of 10.44%. The business had revenue of $21.50 billion during the quarter, compared to analysts’ expectations of $22.77 billion. During the same period last year, the company posted $1.36 EPS. The business’s revenue was down 6.4% on a year-over-year basis. On average, analysts expect that Archer-Daniels-Midland Company will post 4.53 earnings per share for the current fiscal year.

Archer-Daniels-Midland declared that its board has approved a share repurchase program on Wednesday, December 11th that permits the company to buyback 100,000,000 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Archer-Daniels-Midland Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.51 per share. The ex-dividend date is Tuesday, February 18th. This is a boost from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.44%. Archer-Daniels-Midland’s payout ratio is currently 55.40%.

Analyst Ratings Changes

Several analysts have recently commented on ADM shares. BMO Capital Markets decreased their price objective on shares of Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Morgan Stanley cut their target price on shares of Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Barclays cut their target price on shares of Archer-Daniels-Midland from $56.00 to $50.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. Stephens cut their target price on shares of Archer-Daniels-Midland from $55.00 to $52.00 in a research note on Tuesday, February 4th. Finally, Citigroup raised their target price on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.11.

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.