Archer-Daniels-Midland Company (NYSE:ADM) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 4.4% during the third quarter, HoldingsChannel reports. The fund owned 83,761 shares of the company’s stock after buying an additional 3,518 shares during the period. CIBC Asset Management Inc’s holdings in Archer-Daniels-Midland were worth $5,004,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADM. Quent Capital LLC boosted its stake in shares of Archer-Daniels-Midland by 8.2% during the 2nd quarter. Quent Capital LLC now owns 2,158 shares of the company’s stock worth $130,000 after acquiring an additional 164 shares in the last quarter. Focused Wealth Management Inc boosted its position in shares of Archer-Daniels-Midland by 3.3% in the second quarter. Focused Wealth Management Inc now owns 5,338 shares of the company’s stock worth $323,000 after buying an additional 169 shares during the period. Accordant Advisory Group Inc boosted its position in shares of Archer-Daniels-Midland by 0.8% in the second quarter. Accordant Advisory Group Inc now owns 23,462 shares of the company’s stock worth $1,418,000 after buying an additional 176 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Archer-Daniels-Midland by 0.7% in the first quarter. Ameritas Investment Partners Inc. now owns 25,107 shares of the company’s stock worth $1,577,000 after buying an additional 178 shares during the period. Finally, Legacy Capital Group California Inc. boosted its position in shares of Archer-Daniels-Midland by 1.2% in the second quarter. Legacy Capital Group California Inc. now owns 15,327 shares of the company’s stock worth $927,000 after buying an additional 181 shares during the period. Institutional investors and hedge funds own 78.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. 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 report on Tuesday, November 12th. Finally, UBS Group lifted their price objective on Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. One investment 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 stock has a consensus rating of “Hold” and an average target price of $62.83.

Archer-Daniels-Midland Trading Up 1.6 %

Shares of ADM opened at $53.35 on Monday. Archer-Daniels-Midland Company has a 12-month low of $48.92 and a 12-month high of $77.35. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $25.51 billion, a price-to-earnings ratio of 10.71 and a beta of 0.73. The stock’s 50-day moving average price is $57.24 and its 200 day moving average price is $59.78.

Archer-Daniels-Midland Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.00 annualized dividend and a yield of 3.75%. Archer-Daniels-Midland’s dividend payout ratio is 40.16%.

Insider Buying and Selling at Archer-Daniels-Midland

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 value of $10,298,438.94. Following the transaction, the chief executive officer now directly owns 265,210 shares of the company’s stock, valued at $16,047,857.10. The trade was a 39.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 219,348 shares of company stock valued at $13,296,833. 1.20% of the stock is currently owned by corporate insiders.

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.