Zurich Insurance Group Ltd FI Purchases New Position in Archer-Daniels-Midland Company (NYSE:ADM)

Zurich Insurance Group Ltd FI purchased a new stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) in the 1st quarter, Holdings Channel reports. The fund purchased 29,000 shares of the company’s stock, valued at approximately $1,821,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Appian Way Asset Management LP bought a new stake in shares of Archer-Daniels-Midland during the first quarter valued at approximately $8,781,000. Ceeto Capital Group LLC bought a new stake in Archer-Daniels-Midland in the 1st quarter worth approximately $647,000. Price T Rowe Associates Inc. MD grew its position in Archer-Daniels-Midland by 1.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 734,301 shares of the company’s stock worth $46,123,000 after purchasing an additional 7,681 shares during the period. BOKF NA grew its position in Archer-Daniels-Midland by 7.4% in the 1st quarter. BOKF NA now owns 8,670 shares of the company’s stock worth $541,000 after purchasing an additional 598 shares during the period. Finally, LRI Investments LLC bought a new stake in Archer-Daniels-Midland in the 1st quarter worth approximately $341,000. Institutional investors own 78.28% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup cut their target price on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Archer-Daniels-Midland currently has a consensus rating of “Hold” and a consensus target price of $67.43.

Insiders Place Their Bets

In other Archer-Daniels-Midland news, insider Fruit Molly L. Strader sold 6,904 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $60.73, for a total value of $419,279.92. Following the sale, the insider now owns 8,555 shares in the company, valued at approximately $519,545.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Archer-Daniels-Midland Price Performance

Shares of ADM traded down $0.33 during trading hours on Tuesday, reaching $62.97. 3,455,686 shares of the stock traded hands, compared to its average volume of 4,998,064. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.35. Archer-Daniels-Midland Company has a 52-week low of $50.72 and a 52-week high of $87.29. The company’s 50-day moving average price is $61.96 and its two-hundred day moving average price is $59.93. The company has a market cap of $31.13 billion, a P/E ratio of 11.11 and a beta of 0.74.

Archer-Daniels-Midland (NYSE:ADM) last released its earnings results on Tuesday, April 30th. The company reported $1.46 earnings per share for the quarter, beating 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 company had revenue of $21.85 billion for the quarter, compared to analysts’ expectations of $22.26 billion. During the same quarter in the previous year, the company earned $2.09 EPS. Archer-Daniels-Midland’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, analysts anticipate that Archer-Daniels-Midland Company will post 5.54 earnings per share for the current year.

Archer-Daniels-Midland Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.18%. The ex-dividend date was Wednesday, May 15th. Archer-Daniels-Midland’s payout ratio is currently 35.09%.

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.