Archer-Daniels-Midland Company (NYSE:ADM) Holdings Trimmed by Essex Financial Services Inc.

Essex Financial Services Inc. trimmed its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,080 shares of the company’s stock after selling 758 shares during the period. Essex Financial Services Inc.’s holdings in Archer-Daniels-Midland were worth $730,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC purchased a new position in Archer-Daniels-Midland during the 1st quarter worth approximately $27,000. Riverview Trust Co purchased a new position in Archer-Daniels-Midland during the 2nd quarter worth approximately $27,000. Crewe Advisors LLC purchased a new position in Archer-Daniels-Midland during the 1st quarter worth approximately $30,000. Rise Advisors LLC purchased a new position in Archer-Daniels-Midland during the 1st quarter worth approximately $34,000. Finally, BOK Financial Private Wealth Inc. acquired a new stake in shares of Archer-Daniels-Midland during the 1st quarter valued at $34,000. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Citigroup decreased their target price on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. JPMorgan Chase & Co. lifted their target price on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. According to MarketBeat, the company currently 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 dated Wednesday, August 28th. The shares were sold at an average price of $61.00, for a total transaction of $224,663.00. Following the transaction, the chief executive officer now owns 265,210 shares in the company, valued at approximately $16,177,810. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Archer-Daniels-Midland Stock Up 0.2 %

ADM stock opened at $60.99 on Monday. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Archer-Daniels-Midland Company has a 1 year low of $50.72 and a 1 year high of $81.70. The company has a fifty day simple moving average of $61.31 and a 200 day simple moving average of $60.30. The firm has a market cap of $29.16 billion, a PE ratio of 10.70 and a beta of 0.74.

Archer-Daniels-Midland (NYSE:ADM) last released 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 during the quarter, compared to analyst estimates of $23.12 billion. Archer-Daniels-Midland had a net margin of 2.93% and a return on equity of 12.06%. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 EPS. Sell-side analysts anticipate that Archer-Daniels-Midland Company will post 5.47 EPS for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

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

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.