Amalgamated Bank Has $9.38 Million Stake in Archer-Daniels-Midland Company (NYSE:ADM)

Amalgamated Bank reduced its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 6.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 129,842 shares of the company’s stock after selling 9,173 shares during the quarter. Amalgamated Bank’s holdings in Archer-Daniels-Midland were worth $9,377,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its holdings in Archer-Daniels-Midland by 119.3% in the third quarter. Exchange Traded Concepts LLC now owns 1,077 shares of the company’s stock valued at $81,000 after purchasing an additional 586 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Archer-Daniels-Midland by 1.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 220,398 shares of the company’s stock valued at $16,622,000 after acquiring an additional 2,918 shares during the last quarter. SVB Wealth LLC raised its position in shares of Archer-Daniels-Midland by 32.4% in the 3rd quarter. SVB Wealth LLC now owns 11,342 shares of the company’s stock valued at $855,000 after acquiring an additional 2,774 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Archer-Daniels-Midland by 4.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 126,171 shares of the company’s stock worth $9,516,000 after acquiring an additional 5,729 shares during the last quarter. Finally, Legacy Financial Group LLC bought a new position in Archer-Daniels-Midland in the third quarter valued at approximately $30,000. 78.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on ADM. BMO Capital Markets dropped their price target 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. Stifel Nicolaus cut Archer-Daniels-Midland from a “buy” rating to a “hold” rating and cut their price objective for the company from $116.00 to $56.00 in a research report on Monday, January 22nd. Argus downgraded Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Jefferies Financial Group reduced their target price on shares of Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, March 13th. Finally, StockNews.com cut Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $67.50.

Archer-Daniels-Midland Price Performance

ADM stock traded down $0.18 during mid-day trading on Friday, hitting $59.17. The stock had a trading volume of 3,273,862 shares, compared to its average volume of 3,743,537. The firm has a fifty day simple moving average of $59.52 and a 200 day simple moving average of $64.85. Archer-Daniels-Midland Company has a 52 week low of $50.72 and a 52 week high of $87.30. The company has a current ratio of 1.47, a quick ratio of 0.95 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $29.26 billion, a P/E ratio of 10.38 and a beta of 0.78.

Archer-Daniels-Midland (NYSE:ADM) last released its earnings results on Tuesday, April 30th. The company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.11. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. The firm had revenue of $21.85 billion during the quarter, compared to analysts’ expectations of $22.26 billion. During the same period in the prior year, the company earned $2.09 earnings per share. The company’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, research analysts forecast that Archer-Daniels-Midland Company will post 5.58 EPS for the current year.

Archer-Daniels-Midland Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Thursday, May 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Wednesday, May 15th. Archer-Daniels-Midland’s dividend payout ratio is 35.09%.

Archer-Daniels-Midland announced that its board has authorized a stock buyback plan on Tuesday, March 12th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership 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.