SteelPeak Wealth LLC Acquires New Stake in Archer-Daniels-Midland Company (NYSE:ADM)

SteelPeak Wealth LLC bought a new position in shares of Archer-Daniels-Midland Company (NYSE:ADM) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 35,803 shares of the company’s stock, valued at approximately $2,249,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADM. Norges Bank acquired a new position in Archer-Daniels-Midland during the 4th quarter worth $420,457,000. Morgan Stanley boosted its position in shares of Archer-Daniels-Midland by 41.8% during the 3rd quarter. Morgan Stanley now owns 8,641,438 shares of the company’s stock worth $651,737,000 after acquiring an additional 2,547,232 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Archer-Daniels-Midland by 11.1% during the 4th quarter. Wellington Management Group LLP now owns 15,325,806 shares of the company’s stock worth $1,106,830,000 after acquiring an additional 1,532,284 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Archer-Daniels-Midland by 27,778.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,009,197 shares of the company’s stock worth $76,114,000 after acquiring an additional 1,005,577 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Archer-Daniels-Midland by 31.4% during the 3rd quarter. AQR Capital Management LLC now owns 2,864,305 shares of the company’s stock worth $216,026,000 after acquiring an additional 683,984 shares in the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

Archer-Daniels-Midland Price Performance

Shares of NYSE:ADM opened at $60.45 on Monday. The business’s fifty day moving average price is $60.95 and its two-hundred day moving average price is $61.22. The stock has a market cap of $29.89 billion, a PE ratio of 10.61 and a beta of 0.75. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.88 and a current ratio of 1.47. Archer-Daniels-Midland Company has a one year low of $50.72 and a one year high of $87.30.

Archer-Daniels-Midland (NYSE:ADM) last announced its earnings results on Tuesday, April 30th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. The firm had revenue of $21.85 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. On average, analysts forecast that Archer-Daniels-Midland Company will post 5.62 EPS for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Wednesday, May 15th. Archer-Daniels-Midland’s dividend payout ratio (DPR) is 35.09%.

Archer-Daniels-Midland declared that its Board of Directors has authorized a stock repurchase program on Tuesday, March 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

Insider Transactions at Archer-Daniels-Midland

In other news, insider Fruit Molly L. Strader sold 6,904 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $60.73, for a total transaction of $419,279.92. Following the sale, the insider now owns 8,555 shares in the company, valued at $519,545.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

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.