Groesbeck Investment Management Corp NJ Sells 980 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Groesbeck Investment Management Corp NJ trimmed its position in Archer-Daniels-Midland Company (NYSE:ADM) by 21.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,597 shares of the company’s stock after selling 980 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Archer-Daniels-Midland were worth $260,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ADM. Cetera Investment Advisers increased its stake in Archer-Daniels-Midland by 71.9% during the first quarter. Cetera Investment Advisers now owns 18,699 shares of the company’s stock worth $1,688,000 after acquiring an additional 7,821 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in Archer-Daniels-Midland during the first quarter worth approximately $277,000. Brighton Jones LLC bought a new stake in Archer-Daniels-Midland during the first quarter worth approximately $226,000. Candriam Luxembourg S.C.A. increased its stake in Archer-Daniels-Midland by 22.0% during the first quarter. Candriam Luxembourg S.C.A. now owns 31,004 shares of the company’s stock worth $2,798,000 after acquiring an additional 5,586 shares during the last quarter. Finally, Baird Financial Group Inc. increased its stake in Archer-Daniels-Midland by 2.1% during the first quarter. Baird Financial Group Inc. now owns 459,907 shares of the company’s stock worth $41,512,000 after acquiring an additional 9,327 shares during the last quarter. 78.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ADM shares. Robert W. Baird cut Archer-Daniels-Midland from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $96.00 to $61.00 in a research note on Monday, January 22nd. Argus cut Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Stifel Nicolaus cut Archer-Daniels-Midland from a “buy” rating to a “hold” rating and cut their target price for the company from $116.00 to $56.00 in a research note on Monday, January 22nd. BMO Capital Markets cut their target price on Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 13th. Finally, Bank of America cut their target price on Archer-Daniels-Midland from $85.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.50.

Archer-Daniels-Midland Trading Up 1.6 %

Shares of NYSE ADM traded up $0.95 during trading hours on Thursday, reaching $61.37. The stock had a trading volume of 850,979 shares, compared to its average volume of 6,048,774. The company has a current ratio of 1.60, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34. The firm has a market cap of $30.79 billion, a price-to-earnings ratio of 9.44 and a beta of 0.77. The business’s fifty day moving average price is $57.91 and its two-hundred day moving average price is $65.77. Archer-Daniels-Midland Company has a 52-week low of $50.72 and a 52-week high of $87.30.

Archer-Daniels-Midland (NYSE:ADM) last posted its earnings results on Tuesday, March 12th. The company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.07). The company had revenue of $22.98 billion for the quarter, compared to analysts’ expectations of $23.79 billion. Archer-Daniels-Midland had a return on equity of 15.25% and a net margin of 3.71%. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 EPS. Analysts expect that Archer-Daniels-Midland Company will post 5.48 EPS for the current fiscal year.

Archer-Daniels-Midland Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 8th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 7th. This represents a $2.00 dividend on an annualized basis and a yield of 3.26%. This is a positive change from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. Archer-Daniels-Midland’s dividend payout ratio is currently 31.25%.

Archer-Daniels-Midland declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 12th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

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.