Norges Bank Makes New Investment in Archer Daniels Midland Company $ADM

Norges Bank purchased a new stake in shares of Archer Daniels Midland Company (NYSE:ADM) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,446,506 shares of the company’s stock, valued at approximately $340,247,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in Archer Daniels Midland by 17.9% in the first quarter. Wellington Management Group LLP now owns 24,944,136 shares of the company’s stock valued at $1,197,568,000 after purchasing an additional 3,791,597 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Archer Daniels Midland by 3.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 18,076,118 shares of the company’s stock worth $954,058,000 after buying an additional 620,794 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Archer Daniels Midland by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 12,457,546 shares of the company’s stock valued at $654,772,000 after buying an additional 283,207 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Archer Daniels Midland by 3.7% during the 1st quarter. Northern Trust Corp now owns 11,448,325 shares of the company’s stock worth $549,634,000 after acquiring an additional 413,314 shares during the last quarter. Finally, Invesco Ltd. grew its position in Archer Daniels Midland by 8.5% in the first quarter. Invesco Ltd. now owns 7,753,585 shares of the company’s stock worth $372,250,000 after acquiring an additional 607,767 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer Daniels Midland Price Performance

Shares of Archer Daniels Midland stock opened at $60.74 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.42 and a quick ratio of 0.90. Archer Daniels Midland Company has a one year low of $40.98 and a one year high of $65.00. The business’s 50 day simple moving average is $60.34 and its two-hundred day simple moving average is $57.12. The stock has a market capitalization of $29.19 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 4.78 and a beta of 0.70.

Archer Daniels Midland (NYSE:ADM) last issued its earnings results on Tuesday, November 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Archer Daniels Midland had a net margin of 1.33% and a return on equity of 8.43%. The firm had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.96 billion. During the same quarter last year, the business earned $1.09 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. Archer Daniels Midland has set its FY 2025 guidance at 3.250-3.500 EPS. Analysts forecast that Archer Daniels Midland Company will post 4.31 EPS for the current year.

Archer Daniels Midland Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 19th will be given a $0.51 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.4%. Archer Daniels Midland’s payout ratio is presently 83.27%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADM. UBS Group reaffirmed a “buy” rating and set a $70.00 price target (up previously from $60.00) on shares of Archer Daniels Midland in a research note on Monday, August 11th. Zacks Research cut Archer Daniels Midland from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Barclays raised Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $50.00 to $61.00 in a research note on Wednesday, August 6th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $59.00 price target (down from $61.00) on shares of Archer Daniels Midland in a research note on Wednesday, November 5th. Finally, Morgan Stanley upped their price objective on shares of Archer Daniels Midland from $47.00 to $57.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $55.25.

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.