Royal Fund Management LLC acquired a new stake in shares of Archer Daniels Midland Co (NYSE:ADM) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,364 shares of the company’s stock, valued at approximately $47,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Key Financial Inc bought a new position in Archer Daniels Midland during the first quarter valued at $28,000. Farmers & Merchants Investments Inc. grew its holdings in Archer Daniels Midland by 53.8% during the first quarter. Farmers & Merchants Investments Inc. now owns 900 shares of the company’s stock valued at $32,000 after purchasing an additional 315 shares during the period. Retirement Network bought a new position in Archer Daniels Midland during the fourth quarter valued at $33,000. Procyon Private Wealth Partners LLC bought a new position in Archer Daniels Midland during the fourth quarter valued at $33,000. Finally, First Bank & Trust bought a new position in Archer Daniels Midland during the first quarter valued at $34,000. 76.84% of the stock is owned by institutional investors and hedge funds.
In other news, Director Francisco J. Sanchez purchased 1,370 shares of the stock in a transaction on Friday, March 6th. The shares were acquired at an average price of $36.95 per share, for a total transaction of $50,621.50. Following the completion of the transaction, the director now directly owns 4,370 shares of the company’s stock, valued at approximately $161,471.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Pierre Dufour purchased 1,070 shares of the stock in a transaction on Tuesday, May 12th. The shares were purchased at an average price of $35.20 per share, for a total transaction of $37,664.00. Following the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at $271,040. The disclosure for this purchase can be found here. Company insiders own 1.27% of the company’s stock.
Archer Daniels Midland (NYSE:ADM) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.09. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.71 billion. Archer Daniels Midland had a return on equity of 10.15% and a net margin of 2.39%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. Equities analysts forecast that Archer Daniels Midland Co will post 2.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Tuesday, May 19th. Archer Daniels Midland’s dividend payout ratio is 44.44%.
A number of equities analysts have recently commented on ADM shares. Morgan Stanley cut their price target on Archer Daniels Midland from $47.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday, March 30th. Credit Suisse Group cut their price target on Archer Daniels Midland from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Zacks Investment Research lowered Archer Daniels Midland from a “buy” rating to a “hold” rating and set a $37.00 price target for the company. in a report on Monday, April 6th. Monness Crespi & Hardt raised Archer Daniels Midland from a “sell” rating to a “neutral” rating and set a $38.00 price target for the company in a report on Monday, March 2nd. Finally, Stifel Nicolaus cut their price target on Archer Daniels Midland from $49.00 to $48.00 and set a “buy” rating for the company in a report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $43.13.
About Archer Daniels Midland
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. The company operates through four segments: Origination, Oilseeds, Carbohydrate Solutions, and Nutrition. It buys, stores, cleans, and transports agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, as well as resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry.
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