Bangor Savings Bank Has $878,000 Stock Position in Archer-Daniels-Midland Company (NYSE:ADM)

Bangor Savings Bank grew its position in Archer-Daniels-Midland Company (NYSE:ADM) by 4.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 13,985 shares of the company’s stock after acquiring an additional 597 shares during the quarter. Bangor Savings Bank’s holdings in Archer-Daniels-Midland were worth $878,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. City State Bank increased its position in Archer-Daniels-Midland by 58.5% in the 1st quarter. City State Bank now owns 2,060 shares of the company’s stock worth $129,000 after purchasing an additional 760 shares during the last quarter. MJP Associates Inc. ADV increased its position in Archer-Daniels-Midland by 11.4% in the 1st quarter. MJP Associates Inc. ADV now owns 3,874 shares of the company’s stock worth $243,000 after purchasing an additional 397 shares during the last quarter. Rockland Trust Co. acquired a new position in Archer-Daniels-Midland in the 1st quarter worth about $632,000. Gulf International Bank UK Ltd increased its position in Archer-Daniels-Midland by 0.5% in the 1st quarter. Gulf International Bank UK Ltd now owns 46,729 shares of the company’s stock worth $2,935,000 after purchasing an additional 231 shares during the last quarter. Finally, RFG Advisory LLC acquired a new position in shares of Archer-Daniels-Midland during the 1st quarter valued at about $208,000. 78.28% of the stock is owned by institutional investors and hedge funds.

Archer-Daniels-Midland Price Performance

Shares of NYSE:ADM opened at $61.35 on Monday. Archer-Daniels-Midland Company has a 1-year low of $50.72 and a 1-year high of $87.30. The firm has a market capitalization of $30.33 billion, a PE ratio of 10.76 and a beta of 0.75. The business’s 50 day moving average is $60.97 and its 200-day moving average is $61.69. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.35.

Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.11. The company had revenue of $21.85 billion for the quarter, compared to analyst estimates of $22.26 billion. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. Archer-Daniels-Midland’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.09 EPS. Sell-side analysts predict that Archer-Daniels-Midland Company will post 5.61 earnings per share for the current year.

Archer-Daniels-Midland declared that its Board of Directors has initiated a stock buyback plan on Tuesday, March 12th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Archer-Daniels-Midland Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Thursday, May 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Wednesday, May 15th. Archer-Daniels-Midland’s dividend payout ratio is 35.09%.

Insider Activity at Archer-Daniels-Midland

In related news, insider Fruit Molly L. Strader sold 6,904 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $60.73, for a total value of $419,279.92. Following the sale, the insider now owns 8,555 shares of the company’s stock, valued at approximately $519,545.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on ADM. Bank of America lowered their price objective on Archer-Daniels-Midland from $85.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, March 14th. Citigroup increased their price objective on Archer-Daniels-Midland from $63.00 to $64.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. BMO Capital Markets lowered their price objective on Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating on the stock in a report on Wednesday, March 13th. Finally, Jefferies Financial Group lowered their price objective on Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating on the stock in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $67.50.

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.