New York Life Investment Management LLC Increases Stake in Archer Daniels Midland Company $ADM

New York Life Investment Management LLC lifted its stake in shares of Archer Daniels Midland Company (NYSE:ADM) by 1.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 72,087 shares of the company’s stock after buying an additional 1,177 shares during the period. New York Life Investment Management LLC’s holdings in Archer Daniels Midland were worth $3,805,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. SOA Wealth Advisors LLC. bought a new position in shares of Archer Daniels Midland in the 2nd quarter worth approximately $25,000. Headlands Technologies LLC bought a new position in shares of Archer Daniels Midland in the 1st quarter worth approximately $25,000. Trust Co. of Toledo NA OH bought a new position in shares of Archer Daniels Midland in the 2nd quarter worth approximately $32,000. Pandora Wealth Inc. bought a new position in shares of Archer Daniels Midland in the 1st quarter worth approximately $39,000. Finally, Elite Financial Inc. bought a new position in shares of Archer Daniels Midland in the 1st quarter worth approximately $42,000. Institutional investors own 78.28% of the company’s stock.

Archer Daniels Midland Trading Up 0.3%

Shares of NYSE ADM opened at $60.72 on Friday. The firm’s 50 day moving average price is $61.75 and its 200-day moving average price is $55.43. The company has a market cap of $29.18 billion, a PE ratio of 26.75, a P/E/G ratio of 4.78 and a beta of 0.70. Archer Daniels Midland Company has a 52-week low of $40.98 and a 52-week high of $65.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 1.42.

Archer Daniels Midland (NYSE:ADM) last issued its earnings results on Monday, December 2nd. The company reported $1.63 EPS for the quarter. Archer Daniels Midland had a return on equity of 8.43% and a net margin of 1.33%.The business had revenue of $21.70 billion for the quarter. On average, equities research analysts expect that Archer Daniels Midland Company will post 4.31 EPS for the current fiscal year.

Archer Daniels Midland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, August 20th. Archer Daniels Midland’s dividend payout ratio (DPR) is currently 89.87%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ADM. UBS Group reissued a “buy” rating and issued a $70.00 target price (up previously from $60.00) on shares of Archer Daniels Midland in a research report on Monday, August 11th. Barclays upgraded shares of Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $50.00 to $61.00 in a report on Wednesday, August 6th. Morgan Stanley upped their price objective on shares of Archer Daniels Midland from $47.00 to $57.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 12th. Wall Street Zen upgraded shares of Archer Daniels Midland from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Archer Daniels Midland in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Archer Daniels Midland currently has a consensus rating of “Hold” and a consensus price target of $55.50.

About Archer Daniels Midland

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.