Trustcore Financial Services LLC Increases Stock Position in Archer Daniels Midland Co (NYSE:ADM)

Trustcore Financial Services LLC increased its position in Archer Daniels Midland Co (NYSE:ADM) by 263.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,197 shares of the company’s stock after acquiring an additional 8,845 shares during the period. Trustcore Financial Services LLC’s holdings in Archer Daniels Midland were worth $498,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Farmers National Bank purchased a new stake in Archer Daniels Midland during the 1st quarter valued at $27,000. Cornerstone Advisors Inc. raised its stake in Archer Daniels Midland by 72.1% during the 1st quarter. Cornerstone Advisors Inc. now owns 616 shares of the company’s stock valued at $27,000 after buying an additional 258 shares during the last quarter. Country Trust Bank raised its stake in Archer Daniels Midland by 65.0% during the 1st quarter. Country Trust Bank now owns 693 shares of the company’s stock valued at $30,000 after buying an additional 273 shares during the last quarter. Alpha Omega Wealth Management LLC raised its stake in Archer Daniels Midland by 39.0% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 837 shares of the company’s stock valued at $36,000 after buying an additional 235 shares during the last quarter. Finally, Essex Savings Bank purchased a new stake in Archer Daniels Midland during the 1st quarter valued at $41,000. Institutional investors own 75.65% of the company’s stock.

Shares of ADM stock traded down $0.87 during mid-day trading on Tuesday, reaching $36.91. 1,588,914 shares of the company’s stock traded hands, compared to its average volume of 3,788,321. Archer Daniels Midland Co has a 12 month low of $37.47 and a 12 month high of $52.06. The firm’s 50 day moving average price is $40.97. The company has a quick ratio of 0.89, a current ratio of 1.55 and a debt-to-equity ratio of 0.41. The stock has a market cap of $21.16 billion, a price-to-earnings ratio of 10.55 and a beta of 1.05.

Archer Daniels Midland (NYSE:ADM) last issued 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 business had revenue of $16.30 billion for the quarter, compared to the consensus estimate of $16.79 billion. During the same period in the previous year, the firm earned $1.02 EPS. The company’s revenue was down 4.5% on a year-over-year basis. On average, research analysts anticipate that Archer Daniels Midland Co will post 2.94 earnings per share for the current year.

A number of equities research analysts have weighed in on ADM shares. Stifel Nicolaus decreased their target price on shares of Archer Daniels Midland from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Buckingham Research decreased their target price on shares of Archer Daniels Midland from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Friday, July 19th. ValuEngine upgraded shares of Archer Daniels Midland from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Robert W. Baird reissued an “outperform” rating and set a $48.00 price objective (down previously from $54.00) on shares of Archer Daniels Midland in a research report on Monday, April 29th. Finally, Zacks Investment Research raised shares of Archer Daniels Midland from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $49.71.

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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Institutional Ownership by Quarter for Archer Daniels Midland (NYSE:ADM)

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