Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. cut its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 7.3% during the 4th quarter, Holdings Channel reports. The firm owned 70,067 shares of the company’s stock after selling 5,535 shares during the period. First Citizens Bank & Trust Co.’s holdings in Archer-Daniels-Midland were worth $3,540,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp grew its holdings in Archer-Daniels-Midland by 3.3% during the third quarter. State Street Corp now owns 32,045,672 shares of the company’s stock worth $1,914,408,000 after acquiring an additional 1,018,256 shares during the period. Wellington Management Group LLP grew its stake in shares of Archer-Daniels-Midland by 41.5% in the 3rd quarter. Wellington Management Group LLP now owns 19,430,111 shares of the company’s stock worth $1,160,755,000 after purchasing an additional 5,702,451 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Archer-Daniels-Midland by 6.4% in the 3rd quarter. Pacer Advisors Inc. now owns 8,086,446 shares of the company’s stock worth $483,084,000 after purchasing an additional 489,554 shares in the last quarter. FMR LLC lifted its stake in Archer-Daniels-Midland by 33.9% during the third quarter. FMR LLC now owns 3,979,867 shares of the company’s stock valued at $237,757,000 after purchasing an additional 1,007,494 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Archer-Daniels-Midland by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,607,843 shares of the company’s stock worth $215,533,000 after buying an additional 63,883 shares during the last quarter. Institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Price Performance

NYSE ADM opened at $50.52 on Monday. The company has a 50 day simple moving average of $51.58 and a 200-day simple moving average of $56.42. Archer-Daniels-Midland Company has a 52-week low of $48.40 and a 52-week high of $66.08. The firm has a market capitalization of $24.17 billion, a price-to-earnings ratio of 14.43 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 0.84.

Archer-Daniels-Midland announced that its board has initiated a share repurchase plan on Wednesday, December 11th that permits the company to buyback 100,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Archer-Daniels-Midland Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Thursday, November 21st. Archer-Daniels-Midland’s dividend payout ratio is currently 57.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ADM. BMO Capital Markets cut their price objective on Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating for the company in a research report on Wednesday, December 4th. Morgan Stanley reduced their target price on Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. Barclays dropped their price target on Archer-Daniels-Midland from $56.00 to $50.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 21st. Stephens initiated coverage on shares of Archer-Daniels-Midland in a research note on Wednesday, December 11th. They set an “equal weight” rating and a $55.00 price objective for the company. Finally, Bank of America downgraded shares of Archer-Daniels-Midland from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $63.00 to $54.00 in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $56.89.

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.