Wellington Management Group LLP Has $1.16 Billion Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

Wellington Management Group LLP grew its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 41.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,430,111 shares of the company’s stock after acquiring an additional 5,702,451 shares during the quarter. Wellington Management Group LLP owned 4.06% of Archer-Daniels-Midland worth $1,160,755,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new position in Archer-Daniels-Midland in the 3rd quarter valued at approximately $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Archer-Daniels-Midland during the third quarter worth $26,000. Riverview Trust Co bought a new position in shares of Archer-Daniels-Midland in the 2nd quarter valued at $27,000. Altshuler Shaham Ltd bought a new stake in Archer-Daniels-Midland during the 2nd quarter worth $28,000. Finally, Peterson Financial Group Inc. acquired a new position in Archer-Daniels-Midland in the 3rd quarter worth about $28,000. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Archer-Daniels-Midland Price Performance

Shares of ADM opened at $51.42 on Friday. The firm has a market cap of $24.61 billion, a PE ratio of 14.69 and a beta of 0.72. Archer-Daniels-Midland Company has a 52-week low of $48.92 and a 52-week high of $77.35. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 1.40. The business’s 50 day moving average price is $55.34 and its two-hundred day moving average price is $59.03.

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. This represents a $2.00 annualized dividend and a yield of 3.89%. The ex-dividend date is Thursday, November 21st. Archer-Daniels-Midland’s dividend payout ratio is presently 57.14%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BMO Capital Markets reduced their price target on Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating on the stock in a report on Wednesday. Barclays reduced their target price on shares of Archer-Daniels-Midland from $60.00 to $56.00 and set an “underweight” rating on the stock in a report on Wednesday. UBS Group raised their price target on shares of Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Morgan Stanley decreased 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. Finally, Citigroup lifted their target price on Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating and fourteen have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.08.

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.