Archer-Daniels-Midland Company (ADM) Shares Sold by Cambria Investment Management L.P.
Cambria Investment Management L.P. lowered its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 12.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,624 shares of the company’s stock after selling 1,620 shares during the quarter. Cambria Investment Management L.P.’s holdings in Archer-Daniels-Midland were worth $481,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Guardian Life Insurance Co. of America lifted its holdings in Archer-Daniels-Midland by 0.4% in the 1st 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 during the period. V Wealth Management LLC lifted its holdings in Archer-Daniels-Midland by 0.5% in the 2nd quarter. V Wealth Management LLC now owns 4,486 shares of the company’s stock worth $184,000 after buying an additional 22 shares during the period. Hefty Wealth Partners lifted its holdings in Archer-Daniels-Midland by 0.5% in the 2nd quarter. Hefty Wealth Partners now owns 4,704 shares of the company’s stock worth $194,000 after buying an additional 24 shares during the period. ProVise Management Group LLC lifted its holdings in Archer-Daniels-Midland by 0.6% in the 1st quarter. ProVise Management Group LLC now owns 6,672 shares of the company’s stock worth $307,000 after buying an additional 41 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. lifted its holdings in Archer-Daniels-Midland by 0.6% in the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 10,084 shares of the company’s stock worth $464,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 72.86% of the company’s stock.
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Shares of Archer-Daniels-Midland Company (ADM) traded down 0.51% on Friday, hitting $43.13. The stock had a trading volume of 284,145 shares. The company has a market cap of $24.26 billion, a P/E ratio of 18.24 and a beta of 1.12. The company has a 50-day moving average of $42.59 and a 200-day moving average of $42.77. 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 announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $15.86 billion. Archer-Daniels-Midland had a return on equity of 8.40% and a net margin of 2.22%. Archer-Daniels-Midland’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 earnings per share. On average, equities analysts anticipate that Archer-Daniels-Midland Company will post $2.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Thursday, August 17th were issued a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.95%. Archer-Daniels-Midland’s payout ratio is 53.78%.
Several equities research analysts have weighed in on ADM shares. Credit Suisse Group AG set a $45.00 price objective on Archer-Daniels-Midland and gave the stock a “hold” rating in a report on Tuesday, July 18th. Citigroup Inc. reiterated a “buy” rating on shares of Archer-Daniels-Midland in a report on Wednesday, July 12th. BMO Capital Markets reiterated a “hold” rating and issued a $41.00 price objective on shares of Archer-Daniels-Midland in a report on Tuesday, June 27th. Robert W. Baird started coverage on Archer-Daniels-Midland in a report on Monday, September 11th. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Piper Jaffray Companies set a $42.00 price objective on Archer-Daniels-Midland and gave the stock a “hold” rating in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $43.47.
Archer-Daniels-Midland Company Profile
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