Pinebridge Investments L.P. Purchases 29,166 Shares of Archer-Daniels-Midland Company (ADM)
Pinebridge Investments L.P. increased its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 7.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 412,227 shares of the company’s stock after buying an additional 29,166 shares during the period. Pinebridge Investments L.P. owned about 0.07% of Archer-Daniels-Midland worth $17,058,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in ADM. BlackRock Inc. increased its stake in shares of Archer-Daniels-Midland by 1,027.8% during the first quarter. BlackRock Inc. now owns 39,248,469 shares of the company’s stock worth $1,806,998,000 after buying an additional 35,768,331 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Archer-Daniels-Midland by 95.2% during the first quarter. Ameriprise Financial Inc. now owns 3,999,100 shares of the company’s stock worth $184,053,000 after buying an additional 1,950,600 shares during the period. Vanguard Group Inc. increased its stake in shares of Archer-Daniels-Midland by 4.0% during the first quarter. Vanguard Group Inc. now owns 43,397,849 shares of the company’s stock worth $1,998,037,000 after buying an additional 1,672,627 shares during the period. Victory Capital Management Inc. increased its stake in shares of Archer-Daniels-Midland by 23.1% during the second quarter. Victory Capital Management Inc. now owns 6,447,977 shares of the company’s stock worth $266,817,000 after buying an additional 1,208,413 shares during the period. Finally, Hexavest Inc. purchased a new stake in shares of Archer-Daniels-Midland during the second quarter worth approximately $40,385,000. Hedge funds and other institutional investors own 72.86% of the company’s stock.
A number of analysts recently weighed in on ADM shares. Vetr upgraded shares of Archer-Daniels-Midland from a “buy” rating to a “strong-buy” rating and set a $46.76 target price on the stock in a research note on Wednesday, May 31st. Credit Suisse Group set a $45.00 target price on shares of Archer-Daniels-Midland and gave the stock a “hold” rating in a research note on Tuesday, July 18th. Citigroup Inc. reiterated a “buy” rating on shares of Archer-Daniels-Midland in a research note on Wednesday, July 12th. Zacks Investment Research lowered shares of Archer-Daniels-Midland from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 31st. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $41.00 price target on shares of Archer-Daniels-Midland in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Archer-Daniels-Midland presently has a consensus rating of “Hold” and a consensus price target of $44.22.
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Shares of Archer-Daniels-Midland Company (ADM) traded down 0.50% during trading on Tuesday, reaching $43.87. 1,117,537 shares of the company’s stock traded hands. The company has a 50 day moving average price of $42.27 and a 200 day moving average price of $42.89. The stock has a market capitalization of $24.68 billion, a PE ratio of 18.55 and a beta of 1.11. Archer-Daniels-Midland Company has a 1-year low of $40.22 and a 1-year high of $47.88.
Archer-Daniels-Midland (NYSE:ADM) last announced its earnings results on Tuesday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.05. Archer-Daniels-Midland had a return on equity of 8.40% and a net margin of 2.22%. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $15.86 billion. During the same period in the prior year, the company posted $0.41 EPS. Archer-Daniels-Midland’s quarterly revenue was down 4.4% on a year-over-year basis. On average, equities analysts forecast that Archer-Daniels-Midland Company will post $2.60 EPS for the current fiscal year.
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.90%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is 53.78%.
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