The Manufacturers Life Insurance Company cut its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 5.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 537,526 shares of the company’s stock after selling 29,811 shares during the period. The Manufacturers Life Insurance Company’s holdings in Archer-Daniels-Midland were worth $24,990,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Royal Harbor Partners LLC boosted its holdings in shares of Archer-Daniels-Midland by 1.2% in the third quarter. Royal Harbor Partners LLC now owns 17,375 shares of the company’s stock valued at $808,000 after acquiring an additional 210 shares in the last quarter. Buckley Wealth Management LLC boosted its holdings in shares of Archer-Daniels-Midland by 1.5% in the third quarter. Buckley Wealth Management LLC now owns 15,015 shares of the company’s stock valued at $698,000 after acquiring an additional 215 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in shares of Archer-Daniels-Midland by 8.7% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,048 shares of the company’s stock valued at $141,000 after acquiring an additional 245 shares in the last quarter. Schafer Cullen Capital Management Inc boosted its holdings in shares of Archer-Daniels-Midland by 0.6% in the second quarter. Schafer Cullen Capital Management Inc now owns 44,180 shares of the company’s stock valued at $1,763,000 after acquiring an additional 260 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC bought a new stake in Archer-Daniels-Midland during the second quarter worth approximately $43,000. Institutional investors and hedge funds own 65.07% of the company’s stock.
In other Archer-Daniels-Midland news, SVP Joseph D. Taets sold 30,000 shares of the stock in a transaction that occurred on Monday, November 16th. The shares were sold at an average price of $50.15, for a total value of $1,504,500.00. Following the completion of the sale, the senior vice president now owns 190,554 shares in the company, valued at approximately $9,556,283.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John P. Stott sold 15,000 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $50.09, for a total transaction of $751,350.00. Following the completion of the sale, the vice president now owns 48,714 shares of the company’s stock, valued at approximately $2,440,084.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 380,639 shares of company stock valued at $19,087,445. Insiders own 1.27% of the company’s stock.
Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.18. Archer-Daniels-Midland had a net margin of 2.53% and a return on equity of 11.10%. The firm had revenue of $15.13 billion during the quarter, compared to analyst estimates of $16.69 billion. During the same quarter last year, the business posted $0.77 EPS. The company’s revenue was down 9.6% on a year-over-year basis. Equities analysts forecast that Archer-Daniels-Midland Company will post 3.36 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be given a $0.36 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $1.44 dividend on an annualized basis and a yield of 2.96%. Archer-Daniels-Midland’s payout ratio is 44.44%.
A number of brokerages recently weighed in on ADM. Seaport Global Securities began coverage on shares of Archer-Daniels-Midland in a report on Tuesday, July 28th. They set a “buy” rating and a $51.00 target price for the company. Credit Suisse Group upgraded shares of Archer-Daniels-Midland from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $44.00 to $46.00 in a report on Monday, November 2nd. ValuEngine cut shares of Archer-Daniels-Midland from a “sell” rating to a “strong sell” rating in a report on Thursday, July 30th. Morgan Stanley raised their target price on shares of Archer-Daniels-Midland from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, November 2nd. Finally, Cleveland Research upgraded shares of Archer-Daniels-Midland from a “neutral” rating to a “buy” rating in a report on Monday, November 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Archer-Daniels-Midland has an average rating of “Buy” and a consensus price target of $50.27.
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 three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. It procures, stores, cleans, and transports agricultural raw materials, such as oilseeds, corn, wheat, milo, oats, rice, and barley.
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