Smith Shellnut Wilson LLC ADV Takes Position in Archer Daniels Midland Company (ADM)
Smith Shellnut Wilson LLC ADV acquired a new stake in Archer Daniels Midland Company (NYSE:ADM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,572 shares of the company’s stock, valued at approximately $237,000.
Several other hedge funds have also added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its holdings in Archer Daniels Midland by 28.3% during the second quarter. Manchester Capital Management LLC now owns 2,718 shares of the company’s stock worth $112,000 after buying an additional 600 shares in the last quarter. Sun Life Financial INC purchased a new stake in Archer Daniels Midland during the third quarter worth $147,000. Fieldpoint Private Securities LLC purchased a new stake in Archer Daniels Midland during the third quarter worth $188,000. DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in Archer Daniels Midland during the third quarter worth $202,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in Archer Daniels Midland during the third quarter worth $212,000. 76.22% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on ADM. Zacks Investment Research raised shares of Archer Daniels Midland from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Monness Crespi & Hardt began coverage on shares of Archer Daniels Midland in a research report on Tuesday, October 24th. They set a “sell” rating and a $38.00 price objective for the company. Citigroup cut shares of Archer Daniels Midland from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $42.25 to $45.00 in a research report on Thursday, September 28th. Robert W. Baird began coverage on shares of Archer Daniels Midland in a research report on Monday, September 11th. They set an “outperform” rating and a $50.00 price objective for the company. Finally, Piper Jaffray Companies set a $42.00 price objective on shares of Archer Daniels Midland and gave the stock a “hold” rating in a research report on Sunday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $42.22.
Archer Daniels Midland (NYSE:ADM) last issued its earnings results on Tuesday, October 31st. The company reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.10). The business had revenue of $14.83 billion during the quarter, compared to analyst estimates of $16 billion. Archer Daniels Midland had a net margin of 2.01% and a return on equity of 7.86%. Archer Daniels Midland’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.59 earnings per share. equities analysts predict that Archer Daniels Midland Company will post 2.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Stockholders of record on Thursday, November 16th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Wednesday, November 15th. Archer Daniels Midland’s dividend payout ratio (DPR) is 59.81%.
About Archer Daniels Midland
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