Rockland Trust Co. Grows Position in Archer-Daniels-Midland Company (NYSE:ADM)

Rockland Trust Co. raised its position in Archer-Daniels-Midland Company (NYSE:ADM) by 27.7% in the fourth quarter, Holdings Channel reports. The fund owned 14,561 shares of the company’s stock after buying an additional 3,161 shares during the period. Rockland Trust Co.’s holdings in Archer-Daniels-Midland were worth $736,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC raised its holdings in Archer-Daniels-Midland by 4.8% during the third quarter. Lake Street Advisors Group LLC now owns 4,015 shares of the company’s stock worth $240,000 after purchasing an additional 183 shares in the last quarter. OLD National Bancorp IN increased its position in Archer-Daniels-Midland by 0.9% during the 3rd quarter. OLD National Bancorp IN now owns 20,648 shares of the company’s stock worth $1,234,000 after purchasing an additional 189 shares during the period. UMB Bank n.a. raised its stake in shares of Archer-Daniels-Midland by 3.4% during the 3rd quarter. UMB Bank n.a. now owns 5,830 shares of the company’s stock worth $348,000 after buying an additional 194 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in shares of Archer-Daniels-Midland by 4.1% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 5,125 shares of the company’s stock valued at $306,000 after buying an additional 201 shares during the period. Finally, Atomi Financial Group Inc. boosted its stake in shares of Archer-Daniels-Midland by 3.3% in the third quarter. Atomi Financial Group Inc. now owns 6,591 shares of the company’s stock valued at $394,000 after buying an additional 210 shares in the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Stephens started coverage on Archer-Daniels-Midland in a report on Wednesday, December 11th. They issued an “equal weight” rating and a $55.00 target price for the company. BMO Capital Markets reduced their price objective on shares of Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating for the company in a research note on Wednesday, December 4th. Bank of America lowered shares of Archer-Daniels-Midland from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $63.00 to $54.00 in a research report on Tuesday. Citigroup lifted their price target on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley lowered their price target on Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $59.08.

Archer-Daniels-Midland Stock Performance

Archer-Daniels-Midland stock opened at $51.15 on Thursday. Archer-Daniels-Midland Company has a fifty-two week low of $48.40 and a fifty-two week high of $69.85. The company has a market capitalization of $24.48 billion, a price-to-earnings ratio of 14.61 and a beta of 0.72. The stock has a fifty day moving average of $51.82 and a two-hundred day moving average of $57.02. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date was Thursday, November 21st. Archer-Daniels-Midland’s dividend payout ratio is presently 57.14%.

Archer-Daniels-Midland announced that its board has initiated a stock buyback program on Wednesday, December 11th that permits the company to buyback 100,000,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.