Sumitomo Mitsui Trust Group Inc. Sells 73,943 Shares of Archer Daniels Midland Company $ADM

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Archer Daniels Midland Company (NYSE:ADM) by 5.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,334,278 shares of the company’s stock after selling 73,943 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Archer Daniels Midland were worth $105,915,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ADM. Mirae Asset Global Investments Co. Ltd. bought a new stake in Archer Daniels Midland in the 3rd quarter valued at approximately $48,208,000. Vise Technologies Inc. bought a new position in shares of Archer Daniels Midland during the 3rd quarter worth approximately $1,013,000. Cidel Asset Management Inc. grew its stake in shares of Archer Daniels Midland by 6.4% during the 3rd quarter. Cidel Asset Management Inc. now owns 16,242 shares of the company’s stock worth $1,289,000 after acquiring an additional 974 shares in the last quarter. Unison Advisors LLC grew its stake in shares of Archer Daniels Midland by 0.6% during the 3rd quarter. Unison Advisors LLC now owns 58,402 shares of the company’s stock worth $4,636,000 after acquiring an additional 374 shares in the last quarter. Finally, MGO One Seven LLC raised its holdings in shares of Archer Daniels Midland by 0.9% in the third quarter. MGO One Seven LLC now owns 17,320 shares of the company’s stock valued at $1,375,000 after purchasing an additional 156 shares during the last quarter. 78.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wall Street Zen raised shares of Archer Daniels Midland from a “buy” rating to a “strong-buy” rating in a research report on Saturday. BMO Capital Markets lifted their price target on shares of Archer Daniels Midland from $77.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. cut their price target on shares of Archer Daniels Midland from $77.00 to $75.00 and set an “underweight” rating on the stock in a research report on Monday, October 12th. Morgan Stanley raised shares of Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $60.00 to $79.00 in a research report on Wednesday, August 5th. Finally, Zacks Research downgraded shares of Archer Daniels Midland from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $81.75.

Archer Daniels Midland Price Performance

Shares of NYSE ADM opened at $75.89 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average price is $81.79 and its two-hundred day moving average price is $76.45. The company has a market cap of $36.58 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 2.33 and a beta of 0.64. Archer Daniels Midland Company has a twelve month low of $55.58 and a twelve month high of $88.75.

Archer Daniels Midland (NYSE:ADM) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.35. Archer Daniels Midland had a return on equity of 9.21% and a net margin of 2.16%. The company had revenue of $22.68 billion during the quarter, compared to analysts’ expectations of $22.75 billion. During the same period last year, the firm posted $0.93 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. On average, analysts predict that Archer Daniels Midland Company will post 5.52 EPS for the current year.

Archer Daniels Midland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Wednesday, August 19th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 19th. Archer Daniels Midland’s dividend payout ratio (DPR) is currently 56.99%.

Archer Daniels Midland Company Profile

Archer Daniels Midland Company (NYSE: ADM) is a global agricultural origination and processing company. Founded in 1902, ADM connects farmers and producers with markets worldwide by sourcing, transporting, storing and processing crops and other agricultural commodities.

The company processes oilseeds, corn, wheat and other crops into ingredients and products used in food and beverages, animal nutrition, renewable fuels and industrial applications. Its offerings include vegetable oils, protein meals, sweeteners, starches, flour, food ingredients, animal feed ingredients and biofuels, as well as specialty ingredients developed through its nutrition businesses.

ADM operates an integrated network of agricultural facilities, processing plants, transportation assets and commercial offices serving customers across North America, South America, Europe, Asia and other international markets.