Bank of New York Mellon Corp Lowers Stock Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

Bank of New York Mellon Corp trimmed its position in Archer-Daniels-Midland Company (NYSE:ADM) by 9.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,169,395 shares of the company’s stock after selling 315,986 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.64% of Archer-Daniels-Midland worth $191,590,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cherry Tree Wealth Management LLC purchased a new stake in Archer-Daniels-Midland in the first quarter valued at approximately $27,000. Riverview Trust Co purchased a new stake in Archer-Daniels-Midland in the second quarter valued at approximately $27,000. Crewe Advisors LLC purchased a new stake in Archer-Daniels-Midland in the first quarter valued at approximately $30,000. Rise Advisors LLC purchased a new stake in Archer-Daniels-Midland in the first quarter valued at approximately $34,000. Finally, BOK Financial Private Wealth Inc. purchased a new stake in Archer-Daniels-Midland in the first quarter valued at approximately $34,000. 78.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Citigroup reduced their price target on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat.com, Archer-Daniels-Midland currently has an average rating of “Hold” and an average target price of $64.62.

Archer-Daniels-Midland Stock Up 0.4 %

Shares of ADM traded up $0.24 during trading hours on Monday, hitting $60.74. The company had a trading volume of 1,677,401 shares, compared to its average volume of 4,740,079. Archer-Daniels-Midland Company has a 52-week low of $50.72 and a 52-week high of $81.87. The firm has a fifty day moving average price of $61.27 and a 200-day moving average price of $60.03. The stock has a market capitalization of $30.03 billion, a price-to-earnings ratio of 10.61 and a beta of 0.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.44.

Archer-Daniels-Midland (NYSE:ADM) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.19). Archer-Daniels-Midland had a return on equity of 12.06% and a net margin of 2.93%. The business had revenue of $22.25 billion during the quarter, compared to the consensus estimate of $23.12 billion. During the same quarter in the previous year, the business posted $1.89 earnings per share. Archer-Daniels-Midland’s quarterly revenue was down 11.7% compared to the same quarter last year. On average, equities research analysts forecast that Archer-Daniels-Midland Company will post 5.41 EPS for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Wednesday, August 21st will be issued a $0.50 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $2.00 annualized dividend and a yield of 3.29%. Archer-Daniels-Midland’s payout ratio is 35.09%.

About Archer-Daniels-Midland

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.