Conning Inc. cut its holdings in shares of Archer Daniels Midland Co (NYSE:ADM) by 13.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 185,478 shares of the company’s stock after selling 28,504 shares during the quarter. Conning Inc.’s holdings in Archer Daniels Midland were worth $7,568,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Farmers National Bank acquired a new position in shares of Archer Daniels Midland during the first quarter worth approximately $27,000. Cornerstone Advisors Inc. lifted its holdings in shares of Archer Daniels Midland by 72.1% during the first quarter. Cornerstone Advisors Inc. now owns 616 shares of the company’s stock worth $27,000 after buying an additional 258 shares during the last quarter. Country Trust Bank increased its position in shares of Archer Daniels Midland by 65.0% during the first quarter. Country Trust Bank now owns 693 shares of the company’s stock valued at $30,000 after purchasing an additional 273 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Archer Daniels Midland during the second quarter valued at approximately $31,000. Finally, Alpha Omega Wealth Management LLC increased its position in shares of Archer Daniels Midland by 39.0% during the first quarter. Alpha Omega Wealth Management LLC now owns 837 shares of the company’s stock valued at $36,000 after purchasing an additional 235 shares during the period. Institutional investors own 75.65% of the company’s stock.
ADM has been the topic of a number of research reports. Stifel Nicolaus lowered their price objective on Archer Daniels Midland from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. ValuEngine upgraded Archer Daniels Midland from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. BMO Capital Markets upgraded Archer Daniels Midland from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $50.00 to $51.00 in a research report on Monday, April 29th. Zacks Investment Research upgraded Archer Daniels Midland from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Finally, Buckingham Research lowered their price objective on Archer Daniels Midland from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $49.71.
Archer Daniels Midland (NYSE:ADM) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Archer Daniels Midland had a net margin of 2.08% and a return on equity of 8.53%. The firm had revenue of $16.30 billion for the quarter, compared to the consensus estimate of $16.79 billion. During the same quarter in the prior year, the firm posted $1.02 earnings per share. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. Analysts anticipate that Archer Daniels Midland Co will post 2.94 earnings per share for the current year.
Archer Daniels Midland Company 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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