Archer-Daniels-Midland Company (NYSE:ADM) Shares Acquired by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. boosted its position in Archer-Daniels-Midland Company (NYSE:ADM) by 15.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,100 shares of the company’s stock after purchasing an additional 2,192 shares during the period. Pinnacle Associates Ltd.’s holdings in Archer-Daniels-Midland were worth $962,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ADM. Riverview Trust Co bought a new stake in shares of Archer-Daniels-Midland in the 2nd quarter worth approximately $27,000. Altshuler Shaham Ltd bought a new position in shares of Archer-Daniels-Midland in the second quarter valued at $28,000. Crewe Advisors LLC acquired a new stake in shares of Archer-Daniels-Midland during the 1st quarter valued at $30,000. Sachetta LLC grew its holdings in shares of Archer-Daniels-Midland by 39.8% in the 2nd quarter. Sachetta LLC now owns 737 shares of the company’s stock worth $46,000 after acquiring an additional 210 shares during the last quarter. Finally, Addison Advisors LLC raised its position in shares of Archer-Daniels-Midland by 26.4% during the second quarter. Addison Advisors LLC now owns 1,019 shares of the company’s stock worth $62,000 after purchasing an additional 213 shares during the period. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Archer-Daniels-Midland Trading Down 1.0 %

NYSE ADM opened at $54.64 on Friday. The company has a market capitalization of $26.13 billion, a PE ratio of 10.97 and a beta of 0.73. Archer-Daniels-Midland Company has a 1-year low of $50.72 and a 1-year high of $77.35. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The firm’s fifty day simple moving average is $58.84 and its 200-day simple moving average is $60.36.

Archer-Daniels-Midland Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $2.00 annualized dividend and a dividend yield of 3.66%. Archer-Daniels-Midland’s dividend payout ratio is 40.16%.

Analyst Upgrades and Downgrades

ADM has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Citigroup cut their price target on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, UBS Group raised their price objective on shares of Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.82.

Insider Activity at Archer-Daniels-Midland

In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 45,471 shares of Archer-Daniels-Midland stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $61.00, for a total value of $2,773,731.00. Following the completion of the sale, the chief executive officer now directly owns 265,210 shares in the company, valued at $16,177,810. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 45,471 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $61.00, for a total transaction of $2,773,731.00. Following the transaction, the chief executive officer now directly owns 265,210 shares in the company, valued at $16,177,810. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Juan R. Luciano sold 3,683 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $61.00, for a total value of $224,663.00. Following the sale, the chief executive officer now owns 265,210 shares of the company’s stock, valued at approximately $16,177,810. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,348 shares of company stock valued at $13,296,833. 1.20% of the stock is owned by corporate insiders.

About Archer-Daniels-Midland

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.