CIBC Asset Management Inc Grows Position in Archer-Daniels-Midland Company (NYSE:ADM)

CIBC Asset Management Inc grew its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,243 shares of the company’s stock after acquiring an additional 3,765 shares during the period. CIBC Asset Management Inc’s holdings in Archer-Daniels-Midland were worth $4,851,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Cherry Tree Wealth Management LLC purchased a new stake in shares of Archer-Daniels-Midland in the 1st quarter valued at $27,000. Riverview Trust Co purchased a new stake in Archer-Daniels-Midland during the second quarter worth $27,000. Crewe Advisors LLC purchased a new stake in Archer-Daniels-Midland during the first quarter worth $30,000. Rise Advisors LLC purchased a new stake in Archer-Daniels-Midland during the first quarter worth $34,000. Finally, BOK Financial Private Wealth Inc. purchased a new stake in Archer-Daniels-Midland during the first quarter worth $34,000. 78.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Archer-Daniels-Midland

In related news, CEO Juan R. Luciano sold 3,683 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $61.00, for a total value of $224,663.00. Following the completion of the sale, the chief executive officer now owns 265,210 shares of the company’s stock, valued at $16,177,810. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Juan R. Luciano sold 3,683 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $61.00, for a total value of $224,663.00. Following the completion of the sale, the chief executive officer now owns 265,210 shares of the company’s stock, valued at $16,177,810. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Juan R. Luciano sold 170,194 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $60.51, for a total transaction of $10,298,438.94. Following the completion of the sale, the chief executive officer now directly owns 265,210 shares of the company’s stock, valued at approximately $16,047,857.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,348 shares of company stock valued at $13,296,833. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADM. JPMorgan Chase & Co. increased their price target on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Citigroup lowered 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. One 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, the company currently has a consensus rating of “Hold” and an average price target of $64.62.

Archer-Daniels-Midland Price Performance

Shares of NYSE ADM opened at $61.40 on Thursday. The firm has a 50-day simple moving average of $61.30 and a 200-day simple moving average of $60.41. The stock has a market capitalization of $29.36 billion, a price-to-earnings ratio of 10.77 and a beta of 0.74. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.37. Archer-Daniels-Midland Company has a 52 week low of $50.72 and a 52 week high of $80.96.

Archer-Daniels-Midland (NYSE:ADM) last issued its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates 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%. Archer-Daniels-Midland’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter last year, the company earned $1.89 earnings per share. On average, equities analysts predict that Archer-Daniels-Midland Company will post 5.47 earnings per share for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Wednesday, August 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Wednesday, August 21st. Archer-Daniels-Midland’s dividend payout ratio is currently 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.