Assenagon Asset Management S.A. Raises Stock Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

Assenagon Asset Management S.A. boosted its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 70.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 366,359 shares of the company’s stock after purchasing an additional 151,897 shares during the quarter. Assenagon Asset Management S.A. owned about 0.07% of Archer-Daniels-Midland worth $21,886,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Impact Partnership Wealth LLC lifted its stake in shares of Archer-Daniels-Midland by 15.9% in the 3rd quarter. Impact Partnership Wealth LLC now owns 11,606 shares of the company’s stock valued at $693,000 after purchasing an additional 1,596 shares during the last quarter. Patrick M Sweeney & Associates Inc. raised its stake in shares of Archer-Daniels-Midland by 6.1% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 6,140 shares of the company’s stock valued at $367,000 after acquiring an additional 355 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Archer-Daniels-Midland in the 3rd quarter worth about $111,160,000. Courier Capital LLC boosted its stake in shares of Archer-Daniels-Midland by 1.9% during the 3rd quarter. Courier Capital LLC now owns 16,637 shares of the company’s stock worth $994,000 after purchasing an additional 303 shares during the period. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in Archer-Daniels-Midland in the 3rd quarter worth about $933,000. Institutional investors own 78.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADM. UBS Group boosted their price objective on Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, September 9th. JPMorgan Chase & Co. raised their target price on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Citigroup dropped their price objective on Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating and fourteen have given a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $64.83.

Archer-Daniels-Midland Stock Performance

ADM opened at $56.56 on Friday. The stock has a market cap of $27.97 billion, a P/E ratio of 9.92 and a beta of 0.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 0.88. The firm has a fifty day moving average price of $59.26 and a 200 day moving average price of $60.63. Archer-Daniels-Midland Company has a 1 year low of $50.72 and a 1 year high of $77.35.

Archer-Daniels-Midland (NYSE:ADM) last posted its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.19). Archer-Daniels-Midland had a return on equity of 12.06% and a net margin of 2.93%. The firm had revenue of $22.25 billion for the quarter, compared to analysts’ expectations of $23.12 billion. During the same period in the previous year, the company earned $1.89 earnings per share. The company’s revenue was down 11.7% compared to the same quarter last year. Equities research analysts anticipate that Archer-Daniels-Midland Company will post 5.33 earnings per share for the current year.

Archer-Daniels-Midland Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Wednesday, August 21st. Archer-Daniels-Midland’s payout ratio is 35.09%.

Insider Activity

In other news, CEO Juan R. Luciano sold 170,194 shares of the business’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 owns 265,210 shares of the company’s stock, valued at $16,047,857.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Juan R. Luciano sold 170,194 shares of Archer-Daniels-Midland stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $60.51, for a total value of $10,298,438.94. Following the sale, the chief executive officer now directly owns 265,210 shares of the company’s stock, valued at $16,047,857.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Juan R. Luciano sold 45,471 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 265,210 shares of the company’s stock, valued at approximately $16,177,810. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,348 shares of company stock worth $13,296,833 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

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.