Archer-Daniels-Midland Company (ADM) Shares Sold by HighTower Advisors LLC
HighTower Advisors LLC trimmed its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,309 shares of the company’s stock after selling 1,302 shares during the quarter. HighTower Advisors LLC’s holdings in Archer-Daniels-Midland were worth $1,588,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in ADM. ProVise Management Group LLC lifted its position in shares of 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 purchasing an additional 41 shares during the last quarter. Concert Wealth Management Inc. bought a new stake in shares of Archer-Daniels-Midland during the first quarter worth $205,000. Kwmg LLC lifted its position in shares of Archer-Daniels-Midland by 55.1% during the first quarter. Kwmg LLC now owns 34,165 shares of the company’s stock worth $1,573,000 after purchasing an additional 12,134 shares during the last quarter. Cibc World Markets Corp lifted its position in shares of Archer-Daniels-Midland by 170.4% during the first quarter. Cibc World Markets Corp now owns 106,647 shares of the company’s stock worth $4,910,000 after purchasing an additional 67,206 shares during the last quarter. Finally, Tredje AP fonden lifted its position in shares of Archer-Daniels-Midland by 59.1% during the first quarter. Tredje AP fonden now owns 132,861 shares of the company’s stock worth $6,117,000 after purchasing an additional 49,339 shares during the last quarter. Institutional investors and hedge funds own 72.89% of the company’s stock.
Archer-Daniels-Midland Company (NYSE:ADM) opened at 42.61 on Tuesday. Archer-Daniels-Midland Company has a 52 week low of $40.22 and a 52 week high of $47.88. The stock has a market cap of $23.97 billion, a price-to-earnings ratio of 18.02 and a beta of 1.12. The stock’s 50 day moving average price is $42.67 and its 200 day moving average price is $42.70.
Archer-Daniels-Midland (NYSE:ADM) last posted its earnings results 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. Archer-Daniels-Midland had a return on equity of 8.40% and a net margin of 2.22%. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $15.86 billion. During the same quarter in the prior year, the company earned $0.41 EPS. Archer-Daniels-Midland’s revenue was down 4.4% on a year-over-year basis. On average, analysts forecast that Archer-Daniels-Midland Company will post $2.54 earnings per share for the current year.
Several analysts have recently weighed in on the company. Citigroup Inc. downgraded Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $42.25 to $45.00 in a research report on Thursday, September 28th. Robert W. Baird assumed coverage on Archer-Daniels-Midland in a research note on Monday, September 11th. They set an “outperform” rating and a $50.00 price target on the stock. Zacks Investment Research upgraded Archer-Daniels-Midland from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Piper Jaffray Companies set a $42.00 price target on Archer-Daniels-Midland and gave the company a “hold” rating in a research note on Sunday, October 1st. Finally, BidaskClub upgraded Archer-Daniels-Midland from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $43.47.
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