Neuberger Berman Group LLC Sells 12,958 Shares of Archer-Daniels-Midland Company (ADM)
Neuberger Berman Group LLC lowered its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 28.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,121 shares of the company’s stock after selling 12,958 shares during the period. Neuberger Berman Group LLC’s holdings in Archer-Daniels-Midland were worth $1,329,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADM. Boston Partners acquired a new position in shares of Archer-Daniels-Midland in the 1st quarter valued at $594,000. Swiss National Bank raised its holdings in shares of Archer-Daniels-Midland by 25.8% in the 1st quarter. Swiss National Bank now owns 2,038,804 shares of the company’s stock valued at $93,867,000 after buying an additional 417,900 shares during the period. World Asset Management Inc raised its holdings in shares of Archer-Daniels-Midland by 7.1% in the 1st quarter. World Asset Management Inc now owns 72,511 shares of the company’s stock valued at $3,338,000 after buying an additional 4,776 shares during the period. UBS Asset Management Americas Inc. raised its holdings in shares of Archer-Daniels-Midland by 0.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 2,399,604 shares of the company’s stock valued at $110,478,000 after buying an additional 15,838 shares during the period. Finally, British Columbia Investment Management Corp raised its holdings in shares of Archer-Daniels-Midland by 21.3% in the 1st quarter. British Columbia Investment Management Corp now owns 242,895 shares of the company’s stock valued at $11,183,000 after buying an additional 42,586 shares during the period. 72.86% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on ADM shares. Robert W. Baird started coverage on Archer-Daniels-Midland in a report on Monday, September 11th. They set an “outperform” rating and a $50.00 price target on the stock. Credit Suisse Group lowered their price objective on Archer-Daniels-Midland from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, August 31st. Piper Jaffray Companies set a $42.00 price objective on Archer-Daniels-Midland and gave the stock a “hold” rating in a research report on Friday, August 25th. BidaskClub raised Archer-Daniels-Midland from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, Zacks Investment Research raised Archer-Daniels-Midland from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Archer-Daniels-Midland presently has a consensus rating of “Hold” and an average target price of $44.22.
Archer-Daniels-Midland Company (ADM) opened at 43.84 on Monday. The stock’s 50 day moving average price is $42.21 and its 200-day moving average price is $42.95. The stock has a market capitalization of $24.66 billion, a P/E ratio of 18.54 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 issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.05. The business had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $15.86 billion. Archer-Daniels-Midland had a return on equity of 8.40% and a net margin of 2.22%. The business’s revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. Equities research analysts expect that Archer-Daniels-Midland Company will post $2.60 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Thursday, August 17th were given a $0.32 dividend. The ex-dividend date was Tuesday, August 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.92%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is 53.78%.
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