Athena Investment Management Grows Stake in Archer-Daniels-Midland Company (NYSE:ADM)

Athena Investment Management raised its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 1.6% during the second quarter, HoldingsChannel reports. The firm owned 14,280 shares of the company’s stock after buying an additional 229 shares during the quarter. Athena Investment Management’s holdings in Archer-Daniels-Midland were worth $863,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ADM. Sachetta LLC raised its holdings in Archer-Daniels-Midland by 39.8% during the 2nd quarter. Sachetta LLC now owns 737 shares of the company’s stock valued at $46,000 after buying an additional 210 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in shares of Archer-Daniels-Midland by 9.3% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 3,710 shares of the company’s stock valued at $224,000 after acquiring an additional 316 shares during the period. Invesco LLC lifted its holdings in shares of Archer-Daniels-Midland by 5.2% in the 2nd quarter. Invesco LLC now owns 14,746 shares of the company’s stock worth $891,000 after acquiring an additional 734 shares during the last quarter. Choreo LLC boosted its stake in shares of Archer-Daniels-Midland by 180.8% during the 2nd quarter. Choreo LLC now owns 13,359 shares of the company’s stock worth $810,000 after purchasing an additional 8,601 shares during the period. Finally, Quest Partners LLC grew its holdings in Archer-Daniels-Midland by 187.7% during the 2nd quarter. Quest Partners LLC now owns 3,234 shares of the company’s stock valued at $195,000 after purchasing an additional 2,110 shares during the last quarter. 78.28% of the stock is owned by institutional investors.

Archer-Daniels-Midland Stock Down 0.7 %

Shares of Archer-Daniels-Midland stock opened at $59.06 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 0.88. The stock has a market cap of $29.20 billion, a price-to-earnings ratio of 10.36 and a beta of 0.72. The firm’s 50-day moving average is $61.18 and its two-hundred day moving average is $60.62. Archer-Daniels-Midland Company has a 1 year low of $50.72 and a 1 year high of $80.96.

Archer-Daniels-Midland (NYSE:ADM) last released its quarterly earnings data 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). The business had revenue of $22.25 billion for the quarter, compared to the consensus estimate of $23.12 billion. Archer-Daniels-Midland had a net margin of 2.93% and a return on equity of 12.06%. Archer-Daniels-Midland’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 earnings per share. As a group, research analysts expect that Archer-Daniels-Midland Company will post 5.33 earnings per share for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Wednesday, August 21st. Archer-Daniels-Midland’s payout ratio is 35.09%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ADM shares. JPMorgan Chase & Co. raised their price objective on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. UBS Group boosted their price objective on Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Monday. Finally, Citigroup cut their price objective on 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 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 currently has a consensus rating of “Hold” and a consensus price target of $65.62.

Insider Buying and Selling

In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 3,683 shares of Archer-Daniels-Midland stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $61.00, for a total value of $224,663.00. Following the transaction, the chief executive officer now owns 265,210 shares in the company, valued at $16,177,810. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Juan R. Luciano sold 3,683 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $61.00, for a total value of $224,663.00. Following the sale, the chief executive officer now directly owns 265,210 shares in the company, valued at approximately $16,177,810. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Juan R. Luciano sold 170,194 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $60.51, for a total transaction of $10,298,438.94. Following the transaction, the chief executive officer now owns 265,210 shares of the company’s stock, valued at approximately $16,047,857.10. The disclosure for this sale can be found here. Insiders sold 219,348 shares of company stock worth $13,296,833 in the last three months. 1.20% of the stock is owned by insiders.

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.