Teacher Retirement System of Texas cut its stake in shares of Archer Daniels Midland Co (NYSE:ADM) by 28.4% in the first quarter, HoldingsChannel.com reports. The fund owned 404,198 shares of the company’s stock after selling 160,333 shares during the period. Teacher Retirement System of Texas’ holdings in Archer Daniels Midland were worth $17,433,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cedar Wealth Management LLC bought a new position in shares of Archer Daniels Midland in the fourth quarter valued at about $25,000. Alpha Omega Wealth Management LLC acquired a new stake in Archer Daniels Midland in the fourth quarter worth about $25,000. Cornerstone Advisors Inc. increased its position in Archer Daniels Midland by 72.1% in the first quarter. Cornerstone Advisors Inc. now owns 616 shares of the company’s stock worth $27,000 after purchasing an additional 258 shares during the period. We Are One Seven LLC acquired a new stake in Archer Daniels Midland in the fourth quarter worth about $27,000. Finally, Country Trust Bank increased its position in Archer Daniels Midland by 65.0% in the first quarter. Country Trust Bank now owns 693 shares of the company’s stock worth $30,000 after purchasing an additional 273 shares during the period. 77.95% of the stock is owned by institutional investors.
A number of analysts recently commented on ADM shares. Stifel Nicolaus upgraded Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $41.40 price objective for the company in a research report on Friday, February 8th. Credit Suisse Group set a $46.00 price objective on Archer Daniels Midland and gave the stock a “neutral” rating in a research report on Wednesday, January 23rd. Zacks Investment Research lowered Archer Daniels Midland from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. BMO Capital Markets upgraded Archer Daniels Midland from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $50.00 to $51.00 in a research report on Monday, April 29th. Finally, ValuEngine lowered Archer Daniels Midland from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $50.78.
Archer Daniels Midland (NYSE:ADM) last posted its earnings results on Friday, April 26th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.16). The company had revenue of $15.30 billion for the quarter, compared to analyst estimates of $16.19 billion. Archer Daniels Midland had a return on equity of 9.83% and a net margin of 2.57%. Archer Daniels Midland’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Research analysts anticipate that Archer Daniels Midland Co will post 3.17 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.40 annualized dividend and a dividend yield of 3.39%. Archer Daniels Midland’s payout ratio is currently 40.00%.
In other Archer Daniels Midland news, CFO Ray G. Young acquired 6,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average cost of $42.76 per share, for a total transaction of $256,560.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Juan R. Luciano acquired 23,657 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average price of $42.30 per share, with a total value of $1,000,691.10. Following the completion of the transaction, the chief executive officer now directly owns 569,152 shares in the company, valued at approximately $24,075,129.60. The disclosure for this purchase can be found here. 1.11% of the stock is currently owned by insiders.
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About Archer Daniels Midland
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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