Gotham Asset Management LLC Buys 23,936 Shares of Archer-Daniels-Midland Company (ADM)
Gotham Asset Management LLC grew its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 753,089 shares of the company’s stock after buying an additional 23,936 shares during the period. Gotham Asset Management LLC owned 0.13% of Archer-Daniels-Midland worth $31,163,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Guardian Life Insurance Co. of America increased its position 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 buying an additional 8 shares in the last quarter. V Wealth Management LLC increased its position in Archer-Daniels-Midland by 0.5% during the second quarter. V Wealth Management LLC now owns 4,486 shares of the company’s stock worth $184,000 after buying an additional 22 shares in the last quarter. Hefty Wealth Partners increased its position in Archer-Daniels-Midland by 0.5% during the second quarter. Hefty Wealth Partners now owns 4,704 shares of the company’s stock worth $194,000 after buying an additional 24 shares in the last quarter. ProVise Management Group LLC increased its position in Archer-Daniels-Midland by 0.6% during the first quarter. ProVise Management Group LLC now owns 6,672 shares of the company’s stock worth $307,000 after buying an additional 41 shares in the last quarter. Finally, Lowe Brockenbrough & Co. Inc. increased its position in Archer-Daniels-Midland by 0.6% during the first quarter. Lowe Brockenbrough & Co. Inc. now owns 10,084 shares of the company’s stock worth $464,000 after buying an additional 58 shares in the last quarter. 72.86% of the stock is owned by institutional investors.
Shares of Archer-Daniels-Midland Company (ADM) traded up 1.09% during midday trading on Thursday, hitting $43.50. The stock had a trading volume of 719,348 shares. Archer-Daniels-Midland Company has a 12-month low of $40.22 and a 12-month high of $47.88. The company’s 50-day moving average price is $42.56 and its 200-day moving average price is $42.76. The firm has a market cap of $24.47 billion, a price-to-earnings ratio of 18.39 and a beta of 1.12.
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 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 company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $15.86 billion. During the same period in the previous year, the business earned $0.41 EPS. The company’s revenue was down 4.4% on a year-over-year basis. Equities research analysts forecast that Archer-Daniels-Midland Company will post $2.55 EPS 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 paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.97%. The ex-dividend date was Tuesday, August 15th. Archer-Daniels-Midland’s dividend payout ratio (DPR) is currently 53.78%.
Several research firms have weighed in on ADM. Piper Jaffray Companies set a $42.00 price target 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 “strong sell” rating to a “sell” rating in a research report on Thursday, August 3rd. Credit Suisse Group set a $45.00 price target on Archer-Daniels-Midland and gave the stock a “hold” rating in a research report on Tuesday, July 18th. BMO Capital Markets reissued a “hold” rating and set a $41.00 price target on shares of Archer-Daniels-Midland in a research report on Tuesday, June 27th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $45.00 price target (up previously from $40.00) on shares of Archer-Daniels-Midland in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $43.47.
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