National Bank of Canada FI Trims Position in Archer-Daniels-Midland Company (NYSE:ADM)

National Bank of Canada FI cut its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 565,616 shares of the company’s stock after selling 71,608 shares during the period. National Bank of Canada FI owned approximately 0.11% of Archer-Daniels-Midland worth $41,154,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Northern Trust Corp raised its stake in shares of Archer-Daniels-Midland by 1.9% during the 3rd quarter. Northern Trust Corp now owns 13,303,791 shares of the company’s stock valued at $1,003,372,000 after buying an additional 252,486 shares during the last quarter. Morgan Stanley raised its holdings in Archer-Daniels-Midland by 41.8% during the third quarter. Morgan Stanley now owns 8,641,438 shares of the company’s stock worth $651,737,000 after purchasing an additional 2,547,232 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Archer-Daniels-Midland by 5.6% in the third quarter. Ameriprise Financial Inc. now owns 3,696,394 shares of the company’s stock valued at $278,779,000 after buying an additional 195,255 shares in the last quarter. AQR Capital Management LLC boosted its position in Archer-Daniels-Midland by 31.4% during the third quarter. AQR Capital Management LLC now owns 2,864,305 shares of the company’s stock worth $216,026,000 after acquiring an additional 683,984 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Archer-Daniels-Midland by 6.8% in the 4th quarter. LSV Asset Management now owns 2,557,441 shares of the company’s stock valued at $184,698,000 after acquiring an additional 162,145 shares during the period. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Robert W. Baird downgraded shares of Archer-Daniels-Midland from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $96.00 to $61.00 in a research report on Monday, January 22nd. StockNews.com cut shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Roth Capital cut shares of Archer-Daniels-Midland from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. Barclays cut shares of Archer-Daniels-Midland from an “overweight” rating to an “underweight” rating and set a $60.00 price objective for the company. in a research note on Monday, January 22nd. Finally, Stifel Nicolaus lowered shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating and lowered their target price for the stock from $116.00 to $56.00 in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company. According to data from MarketBeat, Archer-Daniels-Midland currently has a consensus rating of “Hold” and an average target price of $67.50.

Archer-Daniels-Midland Stock Performance

Shares of NYSE ADM traded up $0.01 during trading on Monday, reaching $59.18. 1,665,556 shares of the stock traded hands, compared to its average volume of 5,781,514. Archer-Daniels-Midland Company has a 52-week low of $50.72 and a 52-week high of $87.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.47 and a quick ratio of 0.88. The company has a 50-day moving average of $59.63 and a 200-day moving average of $64.60. The stock has a market capitalization of $29.26 billion, a P/E ratio of 10.38 and a beta of 0.78.

Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.11. The business had revenue of $21.85 billion for the quarter, compared to analyst estimates of $22.26 billion. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. Archer-Daniels-Midland’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period last year, the company earned $2.09 EPS. Analysts forecast that Archer-Daniels-Midland Company will post 5.58 EPS for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Thursday, May 16th will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.38%. Archer-Daniels-Midland’s dividend payout ratio is currently 35.09%.

Archer-Daniels-Midland announced that its Board of Directors has authorized a stock buyback program on Tuesday, March 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Archer-Daniels-Midland Company Profile

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.