Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 4.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 736,099 shares of the company’s stock after selling 30,301 shares during the period. California State Teachers Retirement System’s holdings in Archer-Daniels-Midland were worth $46,234,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Levin Capital Strategies L.P. purchased a new stake in Archer-Daniels-Midland during the 1st quarter worth about $1,256,000. B. Riley Wealth Advisors Inc. increased its position in Archer-Daniels-Midland by 3.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 67,577 shares of the company’s stock worth $4,245,000 after purchasing an additional 2,372 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in Archer-Daniels-Midland during the 1st quarter worth about $37,917,000. Jacobs Levy Equity Management Inc. increased its position in 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 worth $187,885,000 after purchasing an additional 1,753,077 shares in the last quarter. Finally, Kinloch Capital LLC increased its position in Archer-Daniels-Midland by 35.4% during the 1st quarter. Kinloch Capital LLC now owns 42,965 shares of the company’s stock worth $2,699,000 after purchasing an additional 11,244 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Insider Activity

In other news, insider Fruit Molly L. Strader sold 6,904 shares of the firm’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 transaction, the insider now directly owns 8,555 shares of the company’s stock, valued at $519,545.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ADM. JPMorgan Chase & Co. lifted their price objective on Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday. Citigroup lowered their price target on Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a report on Monday, July 15th. One analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $66.79.

Archer-Daniels-Midland Stock Down 0.7 %

Archer-Daniels-Midland stock traded down $0.42 during midday trading on Thursday, hitting $61.59. 121,106 shares of the company were exchanged, compared to its average volume of 4,983,303. The company’s fifty day moving average price is $61.98 and its 200-day moving average price is $59.90. The company has a market cap of $30.45 billion, a PE ratio of 10.87 and a beta of 0.74. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.58 and a quick ratio of 0.88. Archer-Daniels-Midland Company has a fifty-two week low of $50.72 and a fifty-two week high of $87.29.

Archer-Daniels-Midland (NYSE:ADM) last announced its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.19). Archer-Daniels-Midland had a net margin of 2.93% and a return on equity of 12.06%. The business had revenue of $22.25 billion during the quarter, compared to analyst estimates of $23.12 billion. During the same period in the previous year, the company earned $1.89 earnings per share. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. On average, research analysts predict that Archer-Daniels-Midland Company will post 5.54 EPS for the current fiscal year.

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.