World Asset Management Inc Cuts Position in Archer-Daniels-Midland Company (NYSE:ADM)

World Asset Management Inc lessened its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,352 shares of the company’s stock after selling 1,092 shares during the quarter. World Asset Management Inc’s holdings in Archer-Daniels-Midland were worth $1,701,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. West Oak Capital LLC raised its stake in Archer-Daniels-Midland by 56.9% during the 3rd quarter. West Oak Capital LLC now owns 455 shares of the company’s stock worth $27,000 after acquiring an additional 165 shares in the last quarter. Dividend Assets Capital LLC acquired a new stake in shares of Archer-Daniels-Midland during the third quarter worth $28,000. Prestige Wealth Management Group LLC lifted its stake in shares of Archer-Daniels-Midland by 176.2% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 591 shares of the company’s stock worth $36,000 after acquiring an additional 377 shares during the period. Selective Wealth Management Inc. boosted its stake in shares of Archer-Daniels-Midland by 333.3% in the third quarter. Selective Wealth Management Inc. now owns 650 shares of the company’s stock valued at $39,000 after buying an additional 500 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new stake in shares of Archer-Daniels-Midland in the third quarter valued at about $42,000. Institutional investors and hedge funds own 77.93% of the company’s stock.

ADM traded down $0.05 on Friday, reaching $70.85. The company had a trading volume of 4,653 shares, compared to its average volume of 2,048,085. The company has a fifty day moving average of $65.89 and a 200-day moving average of $62.72. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $39.64 billion, a P/E ratio of 15.31, a PEG ratio of 1.80 and a beta of 0.89. Archer-Daniels-Midland Company has a one year low of $49.28 and a one year high of $71.23.

Archer-Daniels-Midland (NYSE:ADM) last released its quarterly earnings data on Monday, October 25th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. Archer-Daniels-Midland had a return on equity of 13.11% and a net margin of 3.26%. The business had revenue of $20.34 billion during the quarter, compared to analyst estimates of $17.93 billion. During the same period last year, the company posted $0.89 EPS. The company’s revenue was up 34.5% compared to the same quarter last year. Research analysts predict that Archer-Daniels-Midland Company will post 4.91 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 8th. Investors of record on Wednesday, November 17th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Tuesday, November 16th. Archer-Daniels-Midland’s payout ratio is presently 31.97%.

Several analysts have recently issued reports on the company. Barclays upped their price objective on Archer-Daniels-Midland from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, December 13th. Monness Crespi & Hardt lifted their price objective on Archer-Daniels-Midland from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, October 27th. Stephens lowered shares of Archer-Daniels-Midland from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $65.00 to $67.00 in a report on Tuesday, October 12th. Morgan Stanley boosted their target price on shares of Archer-Daniels-Midland from $67.00 to $69.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Argus lifted their price target on shares of Archer-Daniels-Midland from $72.00 to $74.00 in a report on Monday, January 3rd. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Archer-Daniels-Midland presently has a consensus rating of “Hold” and a consensus price target of $68.92.

In related news, SVP D Cameron Findlay sold 99,503 shares of the company’s stock in a transaction on Monday, November 1st. The shares were sold at an average price of $63.73, for a total transaction of $6,341,326.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by insiders.

Archer-Daniels-Midland Company Profile

Archer-Daniels-Midland Co processes oilseeds, corn, wheat, cocoa and other agricultural commodities. The company operates through the following segments: Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition. The Ag Services and Oilseeds segment includes activities related to the origination, merchandising, crushing, and further processing of oilseeds such as soybeans and soft seeds, such as cottonseed, sunflower seed, canola, rapeseed, and flaxseed into vegetable oils and protein meals.

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Institutional Ownership by Quarter for Archer-Daniels-Midland (NYSE:ADM)