Planning Capital Management Corp Grows Stock Position in Archer-Daniels-Midland Company (NYSE:ADM)

Planning Capital Management Corp grew its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 26.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,578 shares of the company’s stock after buying an additional 9,980 shares during the quarter. Archer-Daniels-Midland accounts for about 1.9% of Planning Capital Management Corp’s investment portfolio, making the stock its 19th largest holding. Planning Capital Management Corp’s holdings in Archer-Daniels-Midland were worth $2,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in shares of Archer-Daniels-Midland during the 3rd quarter valued at approximately $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Archer-Daniels-Midland during the 3rd quarter valued at approximately $26,000. Riverview Trust Co acquired a new stake in shares of Archer-Daniels-Midland during the 2nd quarter valued at approximately $27,000. Altshuler Shaham Ltd acquired a new stake in shares of Archer-Daniels-Midland during the 2nd quarter valued at approximately $28,000. Finally, Crewe Advisors LLC acquired a new stake in shares of Archer-Daniels-Midland during the 1st quarter valued at approximately $30,000. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 3,683 shares of Archer-Daniels-Midland stock in a transaction that occurred on 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 directly owns 265,210 shares of the company’s stock, valued at $16,177,810. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, 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 sale, the chief executive officer now directly owns 265,210 shares in the company, valued at approximately $16,047,857.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Juan R. Luciano sold 3,683 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $61.00, for a total value of $224,663.00. Following the completion of the sale, the chief executive officer now owns 265,210 shares in the company, valued at $16,177,810. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,348 shares of company stock valued at $13,296,833 in the last three months. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ADM shares. UBS Group increased their target price on Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Morgan Stanley decreased their target price on Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $62.83.

Archer-Daniels-Midland Stock Up 0.9 %

Shares of ADM stock opened at $51.87 on Thursday. The company has a market capitalization of $24.80 billion, a price-to-earnings ratio of 10.42 and a beta of 0.73. The stock’s 50 day simple moving average is $57.51 and its 200 day simple moving average is $59.86. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.44. Archer-Daniels-Midland Company has a twelve month low of $48.92 and a twelve month high of $77.35.

Archer-Daniels-Midland Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.86%. The ex-dividend date is Thursday, November 21st. Archer-Daniels-Midland’s dividend payout ratio is currently 40.16%.

Archer-Daniels-Midland Company 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.