iA Global Asset Management Inc. Reduces Position in Archer-Daniels-Midland Company (NYSE:ADM)

iA Global Asset Management Inc. trimmed its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,674 shares of the company’s stock after selling 1,703 shares during the quarter. iA Global Asset Management Inc.’s holdings in Archer-Daniels-Midland were worth $1,492,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cherry Tree Wealth Management LLC purchased a new stake in shares of Archer-Daniels-Midland during the first quarter worth about $27,000. Riverview Trust Co purchased a new stake in shares of Archer-Daniels-Midland during the second quarter worth about $27,000. Crewe Advisors LLC purchased a new stake in shares of Archer-Daniels-Midland during the first quarter worth about $30,000. Rise Advisors LLC purchased a new stake in shares of Archer-Daniels-Midland during the first quarter worth about $34,000. Finally, BOK Financial Private Wealth Inc. purchased a new stake in shares of Archer-Daniels-Midland during the first quarter worth about $34,000. 78.28% of the stock is owned by hedge funds and other institutional investors.

Archer-Daniels-Midland Stock Performance

Shares of ADM stock opened at $60.99 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average of $61.31 and a two-hundred day moving average of $60.20. Archer-Daniels-Midland Company has a 52 week low of $50.72 and a 52 week high of $81.70. The company has a market cap of $30.16 billion, a P/E ratio of 10.70 and a beta of 0.74.

Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.19). The business had revenue of $22.25 billion for the quarter, compared to analyst estimates of $23.12 billion. Archer-Daniels-Midland had a return on equity of 12.06% and a net margin of 2.93%. The business’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 earnings per share. As a group, analysts anticipate that Archer-Daniels-Midland Company will post 5.41 EPS for the current year.

Archer-Daniels-Midland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, August 21st. This represents a $2.00 annualized dividend and a dividend yield of 3.28%. Archer-Daniels-Midland’s dividend payout ratio is presently 35.09%.

Analysts Set New Price Targets

ADM has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Citigroup lowered their price objective on Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Archer-Daniels-Midland has a consensus rating of “Hold” and a consensus target price of $64.62.

Insider Transactions at Archer-Daniels-Midland

In other news, CEO Juan R. Luciano sold 3,683 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $61.00, for a total transaction of $224,663.00. Following the completion of the transaction, the chief executive officer now directly owns 265,210 shares in the company, valued at $16,177,810. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Archer-Daniels-Midland 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.