1832 Asset Management L.P. Grows Stake in Archer-Daniels-Midland Company (NYSE:ADM)

1832 Asset Management L.P. grew its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 52.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,631 shares of the company’s stock after acquiring an additional 16,318 shares during the quarter. 1832 Asset Management L.P.’s holdings in Archer-Daniels-Midland were worth $2,992,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ADM. Truvestments Capital LLC lifted its stake in shares of Archer-Daniels-Midland by 3,976.0% in the first quarter. Truvestments Capital LLC now owns 36,154 shares of the company’s stock worth $2,271,000 after buying an additional 35,267 shares in the last quarter. Quadrature Capital Ltd bought a new position in Archer-Daniels-Midland in the 1st quarter valued at approximately $7,366,000. Gamco Investors INC. ET AL boosted its stake in Archer-Daniels-Midland by 0.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 335,469 shares of the company’s stock valued at $21,071,000 after purchasing an additional 1,147 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Archer-Daniels-Midland by 68.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,557,076 shares of the company’s stock worth $97,800,000 after purchasing an additional 632,100 shares in the last quarter. Finally, Rodgers Brothers Inc. lifted its holdings in shares of Archer-Daniels-Midland by 48.9% during the first quarter. Rodgers Brothers Inc. now owns 47,826 shares of the company’s stock valued at $3,004,000 after purchasing an additional 15,700 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Stock Performance

Shares of ADM stock traded up $0.66 during trading hours on Friday, reaching $63.98. 2,048,324 shares of the company traded hands, compared to its average volume of 3,101,253. The firm has a 50-day moving average price of $61.91 and a 200 day moving average price of $60.04. The company has a market cap of $31.63 billion, a P/E ratio of 11.22 and a beta of 0.74. Archer-Daniels-Midland Company has a 12-month low of $50.72 and a 12-month high of $87.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.47 and a quick ratio of 0.88.

Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings data 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. Archer-Daniels-Midland had a net margin of 3.32% and a return on equity of 13.87%. The firm had revenue of $21.85 billion during the quarter, compared to analysts’ expectations of $22.26 billion. During the same period in the prior year, the company posted $2.09 earnings per share. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, sell-side analysts predict that Archer-Daniels-Midland Company will post 5.56 earnings per share for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Wednesday, May 15th. Archer-Daniels-Midland’s dividend payout ratio (DPR) is 35.09%.

Analyst Upgrades and Downgrades

Separately, Citigroup dropped 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 report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. According to data from MarketBeat, Archer-Daniels-Midland currently has an average rating of “Hold” and an average price target of $67.43.

Insider Buying and Selling

In other news, insider Fruit Molly L. Strader sold 6,904 shares of Archer-Daniels-Midland stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $60.73, for a total transaction of $419,279.92. Following the sale, the insider now owns 8,555 shares in the company, valued at $519,545.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.20% of the stock is currently owned by company insiders.

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.