Rhumbline Advisers Sells 69,530 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Rhumbline Advisers lowered its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 5.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,099,257 shares of the company’s stock after selling 69,530 shares during the period. Rhumbline Advisers’ holdings in Archer-Daniels-Midland were worth $66,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC purchased a new position in Archer-Daniels-Midland during the 1st quarter valued at about $27,000. Riverview Trust Co purchased a new stake in Archer-Daniels-Midland in the 2nd quarter worth approximately $27,000. Crewe Advisors LLC bought a new position in shares of Archer-Daniels-Midland in the first quarter worth $30,000. EdgeRock Capital LLC bought a new stake in Archer-Daniels-Midland during the fourth quarter valued at $35,000. Finally, Sachetta LLC bought a new position in Archer-Daniels-Midland in the 4th quarter worth about $38,000. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Archer-Daniels-Midland Trading Up 1.3 %

Shares of ADM stock opened at $61.40 on Thursday. The business has a 50-day moving average of $61.30 and a 200 day moving average of $60.41. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 0.88. Archer-Daniels-Midland Company has a 1-year low of $50.72 and a 1-year high of $80.96. The stock has a market capitalization of $29.36 billion, a PE ratio of 10.77 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 for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.19). Archer-Daniels-Midland had a net margin of 2.93% and a return on equity of 12.06%. The company had revenue of $22.25 billion for the quarter, compared to analysts’ expectations of $23.12 billion. During the same period last year, the company posted $1.89 EPS. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Archer-Daniels-Midland Company will post 5.47 earnings per share for the current year.

Archer-Daniels-Midland Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Wednesday, August 21st. Archer-Daniels-Midland’s dividend payout ratio (DPR) is 35.09%.

Insider Transactions at Archer-Daniels-Midland

In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 170,194 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $60.51, for a total transaction of $10,298,438.94. Following the completion of the transaction, the chief executive officer now owns 265,210 shares of the company’s stock, valued at approximately $16,047,857.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Juan R. Luciano sold 170,194 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $60.51, for a total transaction of $10,298,438.94. Following the completion of the transaction, the chief executive officer now owns 265,210 shares in the company, valued at $16,047,857.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Juan R. Luciano sold 45,471 shares of Archer-Daniels-Midland stock in a transaction on Friday, August 30th. The shares were sold at an average price of $61.00, for a total transaction of $2,773,731.00. Following the completion of the sale, the chief executive officer now owns 265,210 shares in the company, valued at approximately $16,177,810. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,348 shares of company stock worth $13,296,833. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup cut 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. JPMorgan Chase & Co. raised their price objective on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $64.62.

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.