Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 18.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 490,284 shares of the company’s stock after selling 109,433 shares during the period. Allspring Global Investments Holdings LLC owned about 0.10% of Archer-Daniels-Midland worth $30,795,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Orion Capital Management LLC purchased a new stake in Archer-Daniels-Midland in the third quarter valued at approximately $28,000. Tompkins Financial Corp acquired a new position in shares of Archer-Daniels-Midland in the 3rd quarter valued at $28,000. Rise Advisors LLC purchased a new stake in Archer-Daniels-Midland in the 1st quarter valued at $34,000. EdgeRock Capital LLC acquired a new stake in Archer-Daniels-Midland during the 4th quarter worth $35,000. Finally, Sachetta LLC purchased a new position in Archer-Daniels-Midland during the 4th quarter worth $38,000. 78.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Archer-Daniels-Midland Price Performance

ADM stock opened at $62.69 on Friday. The company has a market cap of $31.00 billion, a price-to-earnings ratio of 11.00 and a beta of 0.74. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $60.94 and a 200-day moving average of $61.02. Archer-Daniels-Midland Company has a 12-month low of $50.72 and a 12-month high of $87.30.

Archer-Daniels-Midland (NYSE:ADM) last posted its earnings results on Tuesday, April 30th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.11. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. The company had revenue of $21.85 billion for the quarter, compared to analyst estimates of $22.26 billion. During the same quarter in the prior year, the company earned $2.09 earnings per share. Archer-Daniels-Midland’s revenue was down 9.2% compared to the same quarter last year. As a group, equities analysts expect that Archer-Daniels-Midland Company will post 5.56 EPS for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Wednesday, May 15th. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 35.09%.

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

Insider Activity

In related news, insider Fruit Molly L. Strader sold 6,904 shares of Archer-Daniels-Midland stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 8,555 shares in the company, valued at approximately $519,545.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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.