Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 74.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,642 shares of the company’s stock after selling 142,991 shares during the period. M&T Bank Corp’s holdings in Archer-Daniels-Midland were worth $3,585,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ADM. Orion Capital Management LLC acquired a new position in Archer-Daniels-Midland in the third quarter valued at approximately $28,000. Tompkins Financial Corp purchased a new stake in Archer-Daniels-Midland in the third quarter valued at $28,000. Operose Advisors LLC acquired a new position in Archer-Daniels-Midland in the third quarter valued at $30,000. Strengthening Families & Communities LLC increased its position in shares of Archer-Daniels-Midland by 37.3% during the third quarter. Strengthening Families & Communities LLC now owns 641 shares of the company’s stock worth $48,000 after purchasing an additional 174 shares in the last quarter. Finally, Emfo LLC acquired a new stake in shares of Archer-Daniels-Midland in the 4th quarter valued at about $51,000. 78.28% of the stock is owned by hedge funds and other institutional investors.

Archer-Daniels-Midland Trading Up 2.3 %

Shares of Archer-Daniels-Midland stock opened at $61.58 on Wednesday. The firm has a market cap of $30.45 billion, a PE ratio of 10.80 and a beta of 0.78. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.35. Archer-Daniels-Midland Company has a fifty-two week low of $50.72 and a fifty-two week high of $87.30. The business’s fifty day moving average is $59.95 and its two-hundred day moving average is $64.43.

Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.11. The firm had revenue of $21.85 billion for the quarter, compared to analyst estimates of $22.26 billion. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period last year, the company earned $2.09 EPS. Analysts anticipate that Archer-Daniels-Midland Company will post 5.58 earnings per share for the current year.

Archer-Daniels-Midland declared that its Board of Directors has authorized a share buyback plan on Tuesday, March 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Archer-Daniels-Midland Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.25%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 35.09%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. BMO Capital Markets reduced their price target on shares of Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating for the company in a research report on Wednesday, March 13th. The Goldman Sachs Group cut shares of Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $90.00 to $67.00 in a research note on Monday, January 22nd. Argus cut shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Robert W. Baird cut shares of Archer-Daniels-Midland from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $96.00 to $61.00 in a report on Monday, January 22nd. Finally, UBS Group reaffirmed a “neutral” rating and issued a $51.00 price objective (down previously from $104.00) on shares of Archer-Daniels-Midland in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Archer-Daniels-Midland currently has a consensus rating of “Hold” and an average price target of $67.50.

Archer-Daniels-Midland Profile

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.