BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in shares of Archer Daniels Midland Company (NYSE:ADM) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 218,186 shares of the company’s stock after selling 6,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Archer Daniels Midland were worth $9,275,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Manchester Capital Management LLC grew its stake in Archer Daniels Midland by 28.3% during the 2nd quarter. Manchester Capital Management LLC now owns 2,718 shares of the company’s stock worth $112,000 after buying an additional 600 shares during the last quarter. Sun Life Financial INC bought a new position in Archer Daniels Midland during the 3rd quarter worth $147,000. DORCHESTER WEALTH MANAGEMENT Co bought a new position in Archer Daniels Midland during the 3rd quarter worth $202,000. Stratos Wealth Partners LTD. bought a new position in Archer Daniels Midland during the 3rd quarter worth $212,000. Finally, Honkamp Krueger Financial Services Inc. bought a new position in Archer Daniels Midland during the 3rd quarter worth $220,000. 76.22% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the company. TheStreet cut Archer Daniels Midland from a “b-” rating to a “c+” rating in a research note on Tuesday, October 31st. Robert W. Baird reissued a “buy” rating and issued a $47.00 price target on shares of Archer Daniels Midland in a research note on Wednesday, November 1st. BMO Capital Markets decreased their price target on Archer Daniels Midland from $41.00 to $36.00 and set a “market perform” rating for the company in a research note on Wednesday, November 1st. Monness Crespi & Hardt decreased their price target on Archer Daniels Midland from $38.00 to $37.00 and set a “sell” rating for the company in a research note on Wednesday, November 1st. Finally, Piper Jaffray Companies set a $39.00 price target on Archer Daniels Midland and gave the stock a “hold” rating in a research note on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $42.22.
Archer Daniels Midland (NYSE:ADM) last announced its earnings results on Tuesday, October 31st. The company reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.10). Archer Daniels Midland had a net margin of 2.01% and a return on equity of 7.86%. The firm had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $16 billion. During the same period in the prior year, the business earned $0.59 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. equities analysts forecast that Archer Daniels Midland Company will post 2.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Stockholders of record on Thursday, November 16th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Wednesday, November 15th. Archer Daniels Midland’s dividend payout ratio is 59.81%.
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Archer Daniels Midland Company Profile
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