Arizona State Retirement System Sells 7,598 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Arizona State Retirement System lowered its position in Archer-Daniels-Midland Company (NYSE:ADM) by 5.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 145,465 shares of the company’s stock after selling 7,598 shares during the period. Arizona State Retirement System’s holdings in Archer-Daniels-Midland were worth $8,793,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADM. NBC Securities Inc. increased its position in Archer-Daniels-Midland by 9.6% during the first quarter. NBC Securities Inc. now owns 1,815 shares of the company’s stock valued at $114,000 after acquiring an additional 159 shares during the last quarter. Quent Capital LLC increased its position in Archer-Daniels-Midland by 8.2% during the second quarter. Quent Capital LLC now owns 2,158 shares of the company’s stock valued at $130,000 after acquiring an additional 164 shares during the last quarter. Focused Wealth Management Inc increased its position in Archer-Daniels-Midland by 3.3% during the second quarter. Focused Wealth Management Inc now owns 5,338 shares of the company’s stock valued at $323,000 after acquiring an additional 169 shares during the last quarter. Accordant Advisory Group Inc increased its position in Archer-Daniels-Midland by 0.8% in the second quarter. Accordant Advisory Group Inc now owns 23,462 shares of the company’s stock worth $1,418,000 after buying an additional 176 shares in the last quarter. Finally, CHICAGO TRUST Co NA increased its position in Archer-Daniels-Midland by 4.4% in the first quarter. CHICAGO TRUST Co NA now owns 4,207 shares of the company’s stock worth $264,000 after buying an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Citigroup reduced their price target on Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. JPMorgan Chase & Co. upped their price target on Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $64.62.

Insider Activity at Archer-Daniels-Midland

In related news, CEO Juan R. Luciano sold 3,683 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $61.00, for a total transaction of $224,663.00. Following the completion of the transaction, the chief executive officer now directly owns 265,210 shares of the company’s stock, valued at $16,177,810. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Juan R. Luciano sold 45,471 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 of the company’s stock, valued at approximately $16,177,810. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Juan R. Luciano sold 3,683 shares of the firm’s stock in a transaction that occurred on 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 directly owns 265,210 shares of the company’s stock, valued at $16,177,810. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,348 shares of company stock valued at $13,296,833. Insiders own 1.20% of the company’s stock.

Archer-Daniels-Midland Stock Performance

NYSE:ADM opened at $59.47 on Friday. The stock has a 50-day moving average price of $61.27 and a 200 day moving average price of $60.49. Archer-Daniels-Midland Company has a 12-month low of $50.72 and a 12-month high of $80.96. The stock has a market capitalization of $29.40 billion, a P/E ratio of 10.43 and a beta of 0.72. 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 (NYSE:ADM) last announced its quarterly 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). Archer-Daniels-Midland had a net margin of 2.93% and a return on equity of 12.06%. The firm had revenue of $22.25 billion for the quarter, compared to the consensus estimate of $23.12 billion. During the same period in the previous year, the company posted $1.89 earnings per share. Archer-Daniels-Midland’s quarterly revenue was down 11.7% on a year-over-year basis. Equities research analysts forecast that Archer-Daniels-Midland Company will post 5.47 EPS for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Wednesday, August 21st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Wednesday, August 21st. Archer-Daniels-Midland’s payout ratio is presently 35.09%.

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.