Investment Management Corp of Ontario Acquires 5,400 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Investment Management Corp of Ontario increased its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 48.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,457 shares of the company’s stock after acquiring an additional 5,400 shares during the quarter. Investment Management Corp of Ontario’s holdings in Archer-Daniels-Midland were worth $983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. raised its stake in Archer-Daniels-Midland by 0.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 3,485,006 shares of the company’s stock valued at $208,194,000 after buying an additional 26,291 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Archer-Daniels-Midland by 33.6% in the 3rd quarter. Janus Henderson Group PLC now owns 185,101 shares of the company’s stock worth $11,048,000 after purchasing an additional 46,511 shares during the last quarter. Community Bank N.A. boosted its stake in Archer-Daniels-Midland by 3.7% in the 3rd quarter. Community Bank N.A. now owns 25,125 shares of the company’s stock worth $1,501,000 after purchasing an additional 887 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Archer-Daniels-Midland by 178.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 606,213 shares of the company’s stock valued at $36,215,000 after purchasing an additional 388,433 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Archer-Daniels-Midland by 4.4% in the third quarter. Public Sector Pension Investment Board now owns 18,804 shares of the company’s stock worth $1,123,000 after buying an additional 800 shares during the last quarter. Institutional investors own 78.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ADM shares. Citigroup boosted their price objective on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday. Barclays lowered their price target on Archer-Daniels-Midland from $60.00 to $56.00 and set an “underweight” rating on the stock in a report on Wednesday. Morgan Stanley reduced their price objective on Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. BMO Capital Markets dropped their price target on shares of Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, UBS Group boosted their price objective on shares of Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Archer-Daniels-Midland currently has a consensus rating of “Hold” and a consensus target price of $61.08.

Archer-Daniels-Midland Stock Performance

ADM opened at $52.29 on Friday. The company has a 50 day simple moving average of $55.34 and a two-hundred day simple moving average of $59.03. Archer-Daniels-Midland Company has a 1-year low of $48.92 and a 1-year high of $77.35. The firm has a market cap of $25.02 billion, a P/E ratio of 14.94 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 0.84.

Archer-Daniels-Midland Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.00 annualized dividend and a yield of 3.82%. Archer-Daniels-Midland’s payout ratio is 57.14%.

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.