Nicholas Hoffman & Company LLC. bought a new position in Archer-Daniels-Midland Company (NYSE:ADM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,348 shares of the company’s stock, valued at approximately $203,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Checchi Capital Advisers LLC lifted its position in Archer-Daniels-Midland by 2.6% during the 1st quarter. Checchi Capital Advisers LLC now owns 6,310 shares of the company’s stock worth $360,000 after buying an additional 160 shares in the last quarter. Palladium Partners LLC lifted its position in Archer-Daniels-Midland by 1.2% during the 1st quarter. Palladium Partners LLC now owns 14,506 shares of the company’s stock worth $827,000 after buying an additional 175 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in Archer-Daniels-Midland by 3.4% during the 1st quarter. Rehmann Capital Advisory Group now owns 5,336 shares of the company’s stock worth $304,000 after buying an additional 175 shares in the last quarter. Dumont & Blake Investment Advisors LLC lifted its position in Archer-Daniels-Midland by 3.5% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 5,160 shares of the company’s stock worth $313,000 after buying an additional 175 shares in the last quarter. Finally, Loudon Investment Management LLC lifted its position in Archer-Daniels-Midland by 0.3% during the 1st quarter. Loudon Investment Management LLC now owns 59,921 shares of the company’s stock worth $3,415,000 after buying an additional 200 shares in the last quarter. 77.08% of the stock is owned by hedge funds and other institutional investors.
Shares of ADM opened at $60.38 on Wednesday. Archer-Daniels-Midland Company has a 52 week low of $44.58 and a 52 week high of $69.30. The firm has a market cap of $33.73 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.52 and a beta of 0.88. The firm’s 50-day simple moving average is $59.74 and its 200 day simple moving average is $61.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.65.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Shareholders of record on Wednesday, August 18th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, August 17th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.45%. Archer-Daniels-Midland’s payout ratio is presently 41.23%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a report on Wednesday, August 11th. Jefferies Financial Group assumed coverage on shares of Archer-Daniels-Midland in a report on Wednesday, July 21st. They issued a “hold” rating and a $55.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $65.27.
In other Archer-Daniels-Midland news, CEO Juan R. Luciano bought 16,790 shares of the firm’s stock in a transaction on Thursday, July 29th. The shares were purchased at an average price of $59.54 per share, for a total transaction of $999,676.60. Following the transaction, the chief executive officer now directly owns 483,994 shares in the company, valued at approximately $28,817,002.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.
Archer-Daniels-Midland Co processes oilseeds, corn, wheat, cocoa and other agricultural commodities. The company operates through the following segments: Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition. The Ag Services and Oilseeds segment includes activities related to the origination, merchandising, crushing, and further processing of oilseeds such as soybeans and soft seeds, such as cottonseed, sunflower seed, canola, rapeseed, and flaxseed into vegetable oils and protein meals.
Further Reading: Green Investing
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