Huntington National Bank cut its holdings in shares of Archer Daniels Midland Co (NYSE:ADM) by 6.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,851 shares of the company’s stock after selling 2,054 shares during the period. Huntington National Bank’s holdings in Archer Daniels Midland were worth $1,245,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Alpha Omega Wealth Management LLC purchased a new position in Archer Daniels Midland during the fourth quarter worth approximately $25,000. Cedar Wealth Management LLC acquired a new stake in shares of Archer Daniels Midland in the fourth quarter valued at $25,000. We Are One Seven LLC purchased a new stake in Archer Daniels Midland during the 4th quarter worth about $27,000. Liberty Wealth Management LLC purchased a new stake in Archer Daniels Midland during the 4th quarter worth about $30,000. Finally, Lindbrook Capital LLC acquired a new position in Archer Daniels Midland during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 78.03% of the company’s stock.
Shares of Archer Daniels Midland stock traded up $0.13 during trading hours on Friday, hitting $43.67. 3,140,187 shares of the company’s stock traded hands, compared to its average volume of 3,581,472. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.52 and a quick ratio of 1.00. The company has a market capitalization of $24.46 billion, a PE ratio of 12.48 and a beta of 0.96. Archer Daniels Midland Co has a twelve month low of $39.16 and a twelve month high of $52.06.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be paid 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 3.21%. Archer Daniels Midland’s dividend payout ratio is presently 40.00%.
In related news, CFO Ray G. Young purchased 6,000 shares of Archer Daniels Midland stock in a transaction dated Monday, April 29th. The shares were acquired at an average price of $42.76 per share, with a total value of $256,560.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donald E. Felsinger purchased 60,000 shares of Archer Daniels Midland stock in a transaction dated Thursday, February 7th. The shares were bought at an average cost of $41.80 per share, for a total transaction of $2,508,000.00. The disclosure for this purchase can be found here. Insiders have bought 89,657 shares of company stock valued at $3,765,251 over the last 90 days. Insiders own 1.11% of the company’s stock.
ADM has been the topic of several research reports. Stifel Nicolaus increased their target price on Archer Daniels Midland from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday. ValuEngine upgraded Archer Daniels Midland from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research downgraded Archer Daniels Midland from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Credit Suisse Group set a $46.00 price target on Archer Daniels Midland and gave the company a “neutral” rating in a report on Wednesday, January 23rd. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $48.00 price target (down from $54.00) on shares of Archer Daniels Midland in a report on Monday, April 29th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $50.78.
Archer Daniels Midland Profile
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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