603,681 Shares in Archer-Daniels-Midland Company (NYSE:ADM) Bought by Invenomic Capital Management LP

Invenomic Capital Management LP purchased a new stake in Archer-Daniels-Midland Company (NYSE:ADM) during the first quarter, according to its most recent filing with the SEC. The fund purchased 603,681 shares of the company’s stock, valued at approximately $37,917,000. Archer-Daniels-Midland comprises about 2.0% of Invenomic Capital Management LP’s portfolio, making the stock its 10th largest holding. Invenomic Capital Management LP owned approximately 0.12% of Archer-Daniels-Midland as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ADM. Vanguard Group Inc. increased its position in Archer-Daniels-Midland by 12.1% in the first quarter. Vanguard Group Inc. now owns 67,826,217 shares of the company’s stock worth $4,260,165,000 after purchasing an additional 7,320,289 shares during the last quarter. Norges Bank bought a new stake in shares of Archer-Daniels-Midland in the 4th quarter worth about $420,457,000. Jacobs Levy Equity Management Inc. raised its position in shares of Archer-Daniels-Midland by 141.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,991,324 shares of the company’s stock valued at $187,885,000 after buying an additional 1,753,077 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Archer-Daniels-Midland by 11.1% in the 4th quarter. Wellington Management Group LLP now owns 15,325,806 shares of the company’s stock valued at $1,106,830,000 after acquiring an additional 1,532,284 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Archer-Daniels-Midland by 40.7% in the first quarter. ProShare Advisors LLC now owns 3,309,140 shares of the company’s stock worth $207,847,000 after acquiring an additional 957,270 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered their price objective on Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.43.

Insider Activity

In other Archer-Daniels-Midland news, insider Fruit Molly L. Strader sold 6,904 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $60.73, for a total transaction of $419,279.92. Following the completion of 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 can be accessed through this link. Company insiders own 1.20% of the company’s stock.

Archer-Daniels-Midland Trading Down 1.3 %

NYSE:ADM traded down $0.80 during midday trading on Tuesday, hitting $62.50. The stock had a trading volume of 6,377,383 shares, compared to its average volume of 5,018,213. The stock has a 50-day moving average of $61.96 and a 200 day moving average of $59.93. The company has a market capitalization of $30.90 billion, a price-to-earnings ratio of 11.11 and a beta of 0.74. Archer-Daniels-Midland Company has a one year low of $50.72 and a one year high of $87.29. 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 (NYSE:ADM) last posted 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 business had revenue of $21.85 billion for the quarter, compared to the consensus estimate of $22.26 billion. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. The business’s revenue was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 EPS. As a group, sell-side analysts forecast that Archer-Daniels-Midland Company will post 5.54 EPS for the current year.

Archer-Daniels-Midland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Wednesday, May 15th. Archer-Daniels-Midland’s dividend payout ratio (DPR) is 35.09%.

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.