Twin Capital Management Inc. trimmed its stake in Archer Daniels Midland Co (NYSE:ADM) by 36.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,300 shares of the company’s stock after selling 67,570 shares during the quarter. Twin Capital Management Inc.’s holdings in Archer Daniels Midland were worth $4,786,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alpha Omega Wealth Management LLC grew its position in 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 acquiring an additional 235 shares during the period. Tompkins Financial Corp boosted its position in shares of Archer Daniels Midland by 12.7% in the first quarter. Tompkins Financial Corp now owns 2,182 shares of the company’s stock worth $110,000 after buying an additional 246 shares during the period. Cornerstone Advisors Inc. boosted its position in shares of 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 buying an additional 258 shares during the period. Renaissance Group LLC boosted its position in shares of Archer Daniels Midland by 1.2% in the first quarter. Renaissance Group LLC now owns 21,843 shares of the company’s stock worth $942,000 after buying an additional 261 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. boosted its position in shares of Archer Daniels Midland by 1.5% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 18,412 shares of the company’s stock worth $794,000 after buying an additional 272 shares during the period. 75.85% of the stock is owned by institutional investors.
ADM stock traded up $1.01 on Friday, reaching $37.77. The company’s stock had a trading volume of 75,030 shares, compared to its average volume of 4,414,038. Archer Daniels Midland Co has a 52 week low of $36.45 and a 52 week high of $52.06. The company has a market capitalization of $20.69 billion, a P/E ratio of 10.79 and a beta of 1.05. The firm has a fifty day moving average of $40.31 and a two-hundred day moving average of $41.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.55 and a quick ratio of 0.89.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Wednesday, August 21st. Archer Daniels Midland’s payout ratio is currently 40.00%.
Several research firms recently commented on ADM. Stifel Nicolaus cut their price target on Archer Daniels Midland from $56.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Buckingham Research cut their price objective on Archer Daniels Midland from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. BMO Capital Markets upgraded Archer Daniels Midland from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $50.00 to $51.00 in a research note on Monday, April 29th. Robert W. Baird restated an “outperform” rating and set a $48.00 price objective (down previously from $54.00) on shares of Archer Daniels Midland in a research note on Monday, April 29th. Finally, ValuEngine cut Archer Daniels Midland from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Archer Daniels Midland presently has an average rating of “Buy” and a consensus target price of $49.71.
In other news, CFO Ray G. Young purchased 3,400 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $36.74 per share, with a total value of $124,916.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Juan R. Luciano purchased 5,457 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $36.65 per share, with a total value of $199,999.05. The disclosure for this purchase can be found here. Company insiders own 1.11% of the company’s stock.
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.
Read More: What is Cost of Capital?
Want to see what other hedge funds are holding ADM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Archer Daniels Midland Co (NYSE:ADM).
Receive News & Ratings for Archer Daniels Midland Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer Daniels Midland and related companies with MarketBeat.com's FREE daily email newsletter.