Oppenheimer Asset Management Inc. Trims Position in Archer-Daniels-Midland Company (ADM)
Oppenheimer Asset Management Inc. cut its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 25.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,266 shares of the company’s stock after selling 15,016 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Archer-Daniels-Midland were worth $1,791,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Guardian Life Insurance Co. of America raised its holdings in Archer-Daniels-Midland by 0.4% during the first quarter. Guardian Life Insurance Co. of America now owns 2,206 shares of the company’s stock worth $102,000 after purchasing an additional 8 shares during the last quarter. Enterprise Financial Services Corp raised its holdings in shares of Archer-Daniels-Midland by 17.7% in the second quarter. Enterprise Financial Services Corp now owns 2,526 shares of the company’s stock worth $105,000 after acquiring an additional 380 shares during the last quarter. Point72 Asia Hong Kong Ltd raised its holdings in shares of Archer-Daniels-Midland by 681.1% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,398 shares of the company’s stock worth $156,000 after acquiring an additional 2,963 shares during the last quarter. Carroll Financial Associates Inc. raised its holdings in shares of Archer-Daniels-Midland by 24.7% in the second quarter. Carroll Financial Associates Inc. now owns 3,854 shares of the company’s stock worth $159,000 after acquiring an additional 764 shares during the last quarter. Finally, V Wealth Management LLC raised its holdings in shares of Archer-Daniels-Midland by 0.5% in the second quarter. V Wealth Management LLC now owns 4,486 shares of the company’s stock worth $184,000 after acquiring an additional 22 shares during the last quarter. 72.86% of the stock is owned by hedge funds and other institutional investors.
ADM has been the subject of a number of analyst reports. Credit Suisse Group cut their price target on Archer-Daniels-Midland from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, August 31st. Zacks Investment Research raised Archer-Daniels-Midland from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 4th. Vetr raised Archer-Daniels-Midland from a “buy” rating to a “strong-buy” rating and set a $46.76 price target for the company in a report on Monday, May 22nd. BMO Capital Markets reissued a “hold” rating and issued a $41.00 price target on shares of Archer-Daniels-Midland in a report on Tuesday, June 27th. Finally, Piper Jaffray Companies set a $42.00 price objective on Archer-Daniels-Midland and gave the company a “hold” rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $43.39.
Shares of Archer-Daniels-Midland Company (ADM) opened at 42.40 on Thursday. The firm’s 50-day moving average price is $41.90 and its 200-day moving average price is $43.02. The stock has a market cap of $23.85 billion, a P/E ratio of 17.93 and a beta of 1.11. Archer-Daniels-Midland Company has a 52-week low of $40.22 and a 52-week high of $47.88.
Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.05. Archer-Daniels-Midland had a net margin of 2.22% and a return on equity of 8.40%. The business had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $15.86 billion. During the same period in the prior year, the business posted $0.41 earnings per share. Archer-Daniels-Midland’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities research analysts forecast that Archer-Daniels-Midland Company will post $2.60 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 17th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Tuesday, August 15th. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 53.78%.
Want to see what other hedge funds are holding ADM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Archer-Daniels-Midland Company (NYSE:ADM).
Receive News & Stock Ratings for Archer-Daniels-Midland Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer-Daniels-Midland Company and related stocks with our FREE daily email newsletter.