New York State Common Retirement Fund Trims Stake in Archer-Daniels-Midland Company (NYSE:ADM)

New York State Common Retirement Fund reduced its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 25.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 274,899 shares of the company’s stock after selling 95,400 shares during the quarter. New York State Common Retirement Fund owned 0.06% of Archer-Daniels-Midland worth $16,422,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ADM. Riverview Trust Co purchased a new stake in shares of Archer-Daniels-Midland in the second quarter valued at approximately $27,000. Altshuler Shaham Ltd acquired a new stake in shares of Archer-Daniels-Midland in the second quarter worth approximately $28,000. Crewe Advisors LLC acquired a new stake in shares of Archer-Daniels-Midland in the first quarter worth approximately $30,000. Sachetta LLC boosted its stake in shares of Archer-Daniels-Midland by 39.8% in the second 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 boosted its stake in shares of Archer-Daniels-Midland by 26.4% in the second quarter. Addison Advisors LLC now owns 1,019 shares of the company’s stock worth $62,000 after acquiring an additional 213 shares during the last quarter. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Archer-Daniels-Midland Stock Performance

Shares of Archer-Daniels-Midland stock opened at $51.99 on Wednesday. Archer-Daniels-Midland Company has a 52 week low of $48.92 and a 52 week high of $77.35. The business’s fifty day simple moving average is $58.56 and its 200-day simple moving average is $60.24. The firm has a market cap of $24.86 billion, a PE ratio of 10.44 and a beta of 0.73. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.37.

Insider Activity

In related news, CEO Juan R. Luciano sold 3,683 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $16,177,810. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Juan R. Luciano sold 45,471 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 265,210 shares in the company, valued at approximately $16,177,810. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Juan R. Luciano sold 3,683 shares of the business’s stock in a transaction 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 owns 265,210 shares in the company, valued at $16,177,810. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,348 shares of company stock valued at $13,296,833 in the last quarter. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ADM. Citigroup lowered their price target 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. UBS Group lifted their price target on Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. boosted their price objective 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. One analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, Archer-Daniels-Midland presently has an average rating of “Hold” and a consensus price target of $63.82.

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.