Investment Centers of America Inc. Increases Position in Archer-Daniels-Midland Company (ADM)
Investment Centers of America Inc. increased its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 3.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,473 shares of the company’s stock after acquiring an additional 489 shares during the period. Investment Centers of America Inc.’s holdings in Archer-Daniels-Midland were worth $638,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in ADM. BlackRock Inc. grew its position in Archer-Daniels-Midland by 1,027.8% in the first quarter. BlackRock Inc. now owns 39,248,469 shares of the company’s stock worth $1,806,998,000 after acquiring an additional 35,768,331 shares in the last quarter. Ameriprise Financial Inc. grew its position in Archer-Daniels-Midland by 95.2% in the first quarter. Ameriprise Financial Inc. now owns 3,999,100 shares of the company’s stock worth $184,053,000 after acquiring an additional 1,950,600 shares in the last quarter. Vanguard Group Inc. grew its position in Archer-Daniels-Midland by 4.0% in the first quarter. Vanguard Group Inc. now owns 43,397,849 shares of the company’s stock worth $1,998,037,000 after acquiring an additional 1,672,627 shares in the last quarter. Victory Capital Management Inc. grew its position in Archer-Daniels-Midland by 23.1% in the second quarter. Victory Capital Management Inc. now owns 6,447,977 shares of the company’s stock worth $266,817,000 after acquiring an additional 1,208,413 shares in the last quarter. Finally, Hexavest Inc. purchased a new position in Archer-Daniels-Midland in the second quarter worth $40,385,000. Institutional investors own 72.86% of the company’s stock.
Archer-Daniels-Midland Company (ADM) traded up 0.90% during mid-day trading on Friday, reaching $43.84. 5,604,342 shares of the company’s stock traded hands. The stock has a market capitalization of $24.66 billion, a PE ratio of 18.54 and a beta of 1.11. The stock has a 50-day moving average price of $42.21 and a 200-day moving average price of $42.95. Archer-Daniels-Midland Company has a 12-month low of $40.22 and a 12-month high of $47.88.
Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $15.86 billion. During the same period last year, the company posted $0.41 EPS. The business’s revenue was down 4.4% on a year-over-year basis. Equities research analysts expect that Archer-Daniels-Midland Company will post $2.60 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Thursday, August 17th were issued a $0.32 dividend. The ex-dividend date was Tuesday, August 15th. This represents a $1.28 annualized dividend and a dividend yield of 2.92%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 53.78%.
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ADM has been the subject of several recent research reports. Citigroup Inc. reissued a “buy” rating on shares of Archer-Daniels-Midland in a research note on Wednesday, July 12th. Zacks Investment Research raised shares of Archer-Daniels-Midland from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. BMO Capital Markets reissued a “hold” rating and issued a $41.00 price target on shares of Archer-Daniels-Midland in a research note on Tuesday, June 27th. Argus downgraded shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price target (up from $40.00) on shares of Archer-Daniels-Midland in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $44.22.
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