AQR Capital Management LLC reduced its holdings in shares of Archer Daniels Midland Co (NYSE:ADM) by 11.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,368,674 shares of the company’s stock after selling 429,061 shares during the quarter. AQR Capital Management LLC owned approximately 0.60% of Archer Daniels Midland worth $169,343,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Archer Daniels Midland by 8.7% during the second quarter. BlackRock Inc. now owns 45,957,560 shares of the company’s stock valued at $2,106,235,000 after purchasing an additional 3,694,727 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Archer Daniels Midland by 723.7% in the third quarter. PNC Financial Services Group Inc. now owns 1,902,120 shares of the company’s stock worth $95,622,000 after buying an additional 1,671,210 shares during the last quarter. Northern Trust Corp increased its stake in shares of Archer Daniels Midland by 13.1% in the second quarter. Northern Trust Corp now owns 11,824,020 shares of the company’s stock worth $541,894,000 after buying an additional 1,369,242 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Archer Daniels Midland by 72.2% in the third quarter. Canada Pension Plan Investment Board now owns 2,961,130 shares of the company’s stock worth $148,856,000 after buying an additional 1,241,676 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Archer Daniels Midland in the third quarter worth $42,197,000. 75.50% of the stock is currently owned by institutional investors and hedge funds.
ADM stock traded down $0.21 during trading on Friday, hitting $43.16. The company had a trading volume of 2,513,600 shares, compared to its average volume of 3,366,438. The company has a quick ratio of 0.94, a current ratio of 1.67 and a debt-to-equity ratio of 0.35. Archer Daniels Midland Co has a fifty-two week low of $39.16 and a fifty-two week high of $52.06. The company has a market capitalization of $24.15 billion, a P/E ratio of 17.76 and a beta of 0.99.
Archer Daniels Midland (NYSE:ADM) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. Archer Daniels Midland had a net margin of 3.54% and a return on equity of 10.45%. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.72 billion. During the same period in the previous year, the business earned $0.45 earnings per share. Archer Daniels Midland’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities analysts anticipate that Archer Daniels Midland Co will post 3.56 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Friday, November 23rd were given a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Wednesday, November 21st. Archer Daniels Midland’s dividend payout ratio (DPR) is presently 55.14%.
Several analysts have weighed in on ADM shares. Zacks Investment Research lowered shares of Archer Daniels Midland from a “buy” rating to a “hold” rating in a research note on Thursday, January 3rd. Argus upgraded shares of Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Thursday, November 8th. Finally, Cleveland Research reissued a “hold” rating on shares of Archer Daniels Midland in a report on Monday, October 1st. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $49.42.
In other Archer Daniels Midland news, CFO Ray G. Young purchased 2,100 shares of the company’s stock in a transaction on Wednesday, November 7th. The shares were purchased at an average cost of $47.35 per share, for a total transaction of $99,435.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.94% of the stock is currently owned by insiders.
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Archer Daniels Midland Profile
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. It operates through four segments: Carbohydrate Solutions, Nutrition, Oilseeds, and Origination. The company offers oilseeds, corn, wheat, milo, oats, rice, and barley; and structured trade finance, as well as processes wheat into wheat flour.
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