SpiderRock Advisors LLC Takes Position in Archer-Daniels-Midland Company (NYSE:ADM)

SpiderRock Advisors LLC acquired a new position in Archer-Daniels-Midland Company (NYSE:ADM) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,597 shares of the company’s stock, valued at approximately $278,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC lifted its holdings in Archer-Daniels-Midland by 417.8% in the third quarter. Schonfeld Strategic Advisors LLC now owns 66,195 shares of the company’s stock worth $4,992,000 after acquiring an additional 53,411 shares during the last quarter. Truist Financial Corp grew its stake in Archer-Daniels-Midland by 54.9% during the 3rd quarter. Truist Financial Corp now owns 199,402 shares of the company’s stock worth $15,039,000 after buying an additional 70,669 shares during the last quarter. Glenmede Trust Co. NA increased its position in Archer-Daniels-Midland by 17.2% in the third quarter. Glenmede Trust Co. NA now owns 50,537 shares of the company’s stock worth $3,811,000 after buying an additional 7,423 shares during the period. Ameriprise Financial Inc. lifted its stake in Archer-Daniels-Midland by 5.6% in the third quarter. Ameriprise Financial Inc. now owns 3,696,394 shares of the company’s stock valued at $278,779,000 after buying an additional 195,255 shares during the last quarter. Finally, Alps Advisors Inc. boosted its holdings in shares of Archer-Daniels-Midland by 146.3% during the third quarter. Alps Advisors Inc. now owns 19,666 shares of the company’s stock valued at $1,483,000 after acquiring an additional 11,681 shares during the period. Institutional investors own 78.28% of the company’s stock.

Insider Buying and Selling at Archer-Daniels-Midland

In other news, insider Fruit Molly L. Strader sold 6,904 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $60.73, for a total transaction of $419,279.92. Following the completion of the transaction, the insider now owns 8,555 shares of the company’s stock, valued at $519,545.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on ADM shares. BMO Capital Markets reduced their target price on shares of Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating for the company in a research note on Wednesday, March 13th. Citigroup lifted their price target on Archer-Daniels-Midland from $63.00 to $64.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Jefferies Financial Group reduced their target price on Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, March 13th. Finally, Bank of America decreased their target price on shares of Archer-Daniels-Midland from $85.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $67.50.

Archer-Daniels-Midland Stock Performance

NYSE:ADM traded down $1.91 during midday trading on Friday, reaching $60.78. The stock had a trading volume of 1,321,215 shares, compared to its average volume of 5,276,500. The stock has a market capitalization of $30.05 billion, a P/E ratio of 11.00 and a beta of 0.74. Archer-Daniels-Midland Company has a 1-year low of $50.72 and a 1-year high of $87.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.47 and a quick ratio of 0.88. The firm’s fifty day simple moving average is $60.98 and its 200-day simple moving average is $61.03.

Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.11. The business had revenue of $21.85 billion during the quarter, compared to analysts’ expectations of $22.26 billion. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. The firm’s revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 EPS. On average, equities research analysts forecast that Archer-Daniels-Midland Company will post 5.56 EPS for the current fiscal year.

Archer-Daniels-Midland announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 12th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Archer-Daniels-Midland Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Thursday, May 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Wednesday, May 15th. Archer-Daniels-Midland’s payout ratio is currently 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.