Archer Investment Corp increases its position in Archer-Daniels-Midland Company (NYSE:ADM)

VaselineSeptember 5, 2024

0 4 minutes read

Archer Investment Corp boosted its stake in Archer-Daniels-Midland Company (NYSE:ADM – Free Report) by 9,432.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,383 shares of the company’s stock after buying an additional 2,358 shares during the quarter. Archer Investment Corp’s holdings in Archer-Daniels-Midland were worth $144,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. LMG Wealth Partners LLC acquired a new stake in Archer-Daniels-Midland in the second quarter valued at about $2,800,000. CIBC Asset Management Inc raised its stake in Archer-Daniels-Midland by 4.9% during the second quarter. CIBC Asset Management Inc now owns 80,243 shares of the company’s stock worth $4,851,000 after purchasing an additional 3,765 shares during the period. Natixis Advisors LLC increased its stake in shares of Archer-Daniels-Midland by 12.2% in the second quarter. Natixis Advisors LLC now owns 178,631 shares of the company’s stock worth $10,798,000 after buying an additional 19,424 shares during the period. Fielder Capital Group LLC grew its stake in Archer-Daniels-Midland by 7.1% in the second quarter. Fielder Capital Group LLC now owns 8,257 shares of the company’s stock worth $499,000 after buying an additional 550 shares during the period. Finally, Aptus Capital Advisors LLC acquired a new position in shares of Archer-Daniels-Midland in the second quarter worth $202,000. 78.28% of the shares are currently held by hedge funds and other institutional investors.

Changes in Analyst Ratings

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Citigroup cut their price target on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $64.62, based on data from MarketBeat.

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Archer-Daniels-Midland trading rose 1.3%

ADM opened at $61.40 on Thursday. The stock has a market cap of $29.36 billion, a PE ratio of 10.77 and a beta of 0.74. The company’s fifty day moving average price is $61.30 and its 200 day moving average price is $60.41. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44, and a quick ratio of 0.88. Archer-Daniels-Midland Company has a 12-month low of $50.72 and a 12-month high of $80.96.

Archer-Daniels-Midland (NYSE:ADM – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.19). The company had revenue of $22.25 billion during the quarter, compared to analyst estimates of $23.12 billion. Archer-Daniels-Midland had a net margin of 2.93% and a return on equity of 12.06%. The company’s revenue fell 11.7% year over year. In the same period last year, the company earned $1.89 per share. As a group, research analysts expect that Archer-Daniels-Midland Company will post 5.47 EPS for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, August 21. This represents a dividend of $2.00 on an annualized basis and a dividend yield of 3.26%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is 35.09%.

Insiders place their bets

In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 3,683 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $61.00, for a total transaction of $224,663.00. Following the sale, the chief executive officer now directly owns 265,210 shares of the company’s stock, valued at $16,177,810. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In other news, CEO Juan R. Luciano sold 3,683 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $61.00, for a total transaction of $224,663.00. Following the completion of the transaction, the chief executive officer now owns 265,210 shares in the company, valued at $16,177,810. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, CEO Juan R. Luciano sold 170,194 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $60.51, for a total transaction of $10,298,438.94. Following the transaction, the chief executive officer now owns 265,210 shares of the company’s stock, valued at approximately $16,047,857.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,348 shares of company stock worth $13,296,833. Company insiders own 1.20% of the company’s shares.

Archer-Daniels-Midland Company Profile

(Free Report)

Archer-Daniels-Midland is engaged in the procurement, transportation, storage, processing and marketing of agricultural products, ingredients, flavors and solutions in the United States, Switzerland, Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Agricultural Services and Oilseeds, Carbohydrate Solutions and Nutrition.