Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lessened its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 162,741 shares of the company’s stock after selling 13,800 shares during the quarter. State of Michigan Retirement System’s holdings in Archer-Daniels-Midland were worth $9,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADM. Banque Cantonale Vaudoise boosted its position in Archer-Daniels-Midland by 83.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 29,914 shares of the company’s stock worth $1,879,000 after purchasing an additional 13,626 shares in the last quarter. Quadrant Capital Group LLC grew its position in Archer-Daniels-Midland by 14.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,746 shares of the company’s stock valued at $271,000 after buying an additional 462 shares during the period. Madison Asset Management LLC raised its position in shares of Archer-Daniels-Midland by 18.6% in the fourth quarter. Madison Asset Management LLC now owns 383,941 shares of the company’s stock worth $27,728,000 after acquiring an additional 60,313 shares during the period. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in shares of Archer-Daniels-Midland during the 4th quarter worth about $1,942,000. Finally, Victory Capital Management Inc. grew its position in shares of Archer-Daniels-Midland by 50.3% during the 4th quarter. Victory Capital Management Inc. now owns 414,643 shares of the company’s stock valued at $29,946,000 after acquiring an additional 138,806 shares during the period. 78.28% of the stock is owned by institutional investors and hedge funds.

Archer-Daniels-Midland Trading Down 0.3 %

Shares of ADM opened at $60.57 on Wednesday. The firm’s fifty day moving average is $61.28 and its two-hundred day moving average is $60.09. The stock has a market cap of $29.95 billion, a PE ratio of 10.62 and a beta of 0.74. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.37. Archer-Daniels-Midland Company has a 52-week low of $50.72 and a 52-week high of $81.87.

Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.19). Archer-Daniels-Midland had a net margin of 2.93% and a return on equity of 12.06%. The business had revenue of $22.25 billion for the quarter, compared to analysts’ expectations of $23.12 billion. During the same period in the prior year, the company posted $1.89 EPS. The firm’s revenue was down 11.7% on a year-over-year basis. Research analysts forecast that Archer-Daniels-Midland Company will post 5.41 earnings per share for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Wednesday, August 21st will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, August 21st. This represents a $2.00 dividend on an annualized basis and a yield of 3.30%. Archer-Daniels-Midland’s payout ratio is 35.09%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Citigroup reduced their price target on Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. upped their target price on Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $64.62.

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.