Archer-Daniels-Midland Company (NYSE:ADM) Position Lessened by Bangor Savings Bank

Bangor Savings Bank lowered its position in Archer-Daniels-Midland Company (NYSE:ADM) by 93.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,056 shares of the company’s stock after selling 13,927 shares during the quarter. Bangor Savings Bank’s holdings in Archer-Daniels-Midland were worth $53,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ADM. Nordea Investment Management AB lifted its holdings in shares of Archer-Daniels-Midland by 30.7% during the 4th quarter. Nordea Investment Management AB now owns 2,082,442 shares of the company’s stock valued at $105,163,000 after buying an additional 489,217 shares during the last quarter. Everence Capital Management Inc. lifted its stake in Archer-Daniels-Midland by 22.2% in the fourth quarter. Everence Capital Management Inc. now owns 25,080 shares of the company’s stock valued at $1,267,000 after acquiring an additional 4,560 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of Archer-Daniels-Midland by 7.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 73,983 shares of the company’s stock worth $4,400,000 after purchasing an additional 5,001 shares during the last quarter. Peapack Gladstone Financial Corp raised its holdings in shares of Archer-Daniels-Midland by 3.6% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 16,354 shares of the company’s stock valued at $977,000 after purchasing an additional 574 shares in the last quarter. Finally, Synovus Financial Corp lifted its stake in shares of Archer-Daniels-Midland by 3.6% in the 3rd quarter. Synovus Financial Corp now owns 16,858 shares of the company’s stock valued at $1,007,000 after purchasing an additional 582 shares during the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADM has been the topic of several recent research reports. Stephens assumed coverage on Archer-Daniels-Midland in a report on Wednesday, December 11th. They set an “equal weight” rating and a $55.00 target price on the stock. Barclays reduced their target price on Archer-Daniels-Midland from $60.00 to $56.00 and set an “underweight” rating for the company in a report on Wednesday, December 4th. Citigroup increased their price target on Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. BMO Capital Markets decreased their price objective on shares of Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating for the company in a report on Wednesday, December 4th. Finally, Morgan Stanley dropped their target price on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.62.

Archer-Daniels-Midland Stock Performance

Shares of NYSE ADM opened at $49.47 on Wednesday. The firm has a market capitalization of $23.67 billion, a price-to-earnings ratio of 14.13 and a beta of 0.72. Archer-Daniels-Midland Company has a one year low of $48.92 and a one year high of $71.08. The business has a fifty day simple moving average of $52.19 and a 200 day simple moving average of $57.37. The company has a current ratio of 1.40, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34.

Archer-Daniels-Midland Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Thursday, November 21st. Archer-Daniels-Midland’s payout ratio is 57.14%.

Archer-Daniels-Midland declared that its board has initiated a stock buyback program on Wednesday, December 11th that allows the company to repurchase 100,000,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.