Archer Daniels Midland (NYSE:ADM) Sets New 12-Month High at $47.30
Shares of Archer Daniels Midland Co (NYSE:ADM) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $47.30 and last traded at $47.30, with a volume of 15938 shares traded. The stock had previously closed at $46.89.
A number of equities research analysts recently issued reports on ADM shares. Stifel Nicolaus lowered their price objective on Archer Daniels Midland from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Credit Suisse Group downgraded Archer Daniels Midland from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $40.00 to $39.00 in a research report on Monday, July 27th. ValuEngine downgraded Archer Daniels Midland from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 30th. Barclays started coverage on Archer Daniels Midland in a research note on Tuesday, June 30th. They issued an “overweight” rating and a $52.00 target price on the stock. Finally, Seaport Global Securities started coverage on Archer Daniels Midland in a research note on Tuesday, July 28th. They issued a “buy” rating and a $51.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $44.67.
The stock has a 50 day moving average price of $44.46 and a 200-day moving average price of $39.16. The stock has a market capitalization of $26.39 billion, a P/E ratio of 15.07 and a beta of 0.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.72 and a quick ratio of 1.12.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Wednesday, August 19th were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, August 18th. This represents a $1.44 dividend on an annualized basis and a yield of 3.03%. Archer Daniels Midland’s dividend payout ratio is presently 44.44%.
In other news, Director Pierre Dufour acquired 11,100 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were acquired at an average cost of $44.75 per share, with a total value of $496,725.00. Following the transaction, the director now owns 18,800 shares in the company, valued at approximately $841,300. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Gregory A. Morris sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $44.46, for a total value of $889,200.00. Following the transaction, the senior vice president now owns 164,330 shares in the company, valued at approximately $7,306,111.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,754 shares of company stock valued at $1,328,902. Company insiders own 1.27% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Commerce Bank boosted its holdings in Archer Daniels Midland by 2.4% in the first quarter. Commerce Bank now owns 33,709 shares of the company’s stock worth $1,186,000 after purchasing an additional 780 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Archer Daniels Midland by 132.5% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 102,989 shares of the company’s stock valued at $3,623,000 after purchasing an additional 58,700 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of Archer Daniels Midland by 152.2% during the 1st quarter. Schroder Investment Management Group now owns 15,257 shares of the company’s stock valued at $546,000 after acquiring an additional 9,208 shares during the last quarter. Cypress Capital Group increased its holdings in shares of Archer Daniels Midland by 43.0% in the 2nd quarter. Cypress Capital Group now owns 15,892 shares of the company’s stock worth $634,000 after buying an additional 4,781 shares during the last quarter. Finally, Ovata Capital Management Ltd purchased a new stake in Archer Daniels Midland during the second quarter valued at approximately $33,000. 76.67% of the stock is currently owned by hedge funds and other institutional investors.
About Archer Daniels Midland (NYSE:ADM)
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. The company operates through four segments: Origination, Oilseeds, Carbohydrate Solutions, and Nutrition. It buys, stores, cleans, and transports agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, as well as resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry.
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