Covington Capital Management Has $95,000 Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

Covington Capital Management raised its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADMGet Rating) by 76.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,222 shares of the company’s stock after buying an additional 528 shares during the quarter. Covington Capital Management’s holdings in Archer-Daniels-Midland were worth $95,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Capital International Investors acquired a new position in shares of Archer-Daniels-Midland in the first quarter valued at $847,508,000. Norges Bank acquired a new position in shares of Archer-Daniels-Midland in the fourth quarter valued at $402,080,000. CFS Investment Advisory Services LLC raised its stake in shares of Archer-Daniels-Midland by 8,828.5% in the first quarter. CFS Investment Advisory Services LLC now owns 3,100,702 shares of the company’s stock valued at $34,000 after purchasing an additional 3,065,974 shares in the last quarter. Capital World Investors raised its stake in shares of Archer-Daniels-Midland by 7.5% in the first quarter. Capital World Investors now owns 43,379,355 shares of the company’s stock valued at $3,915,421,000 after purchasing an additional 3,016,611 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Archer-Daniels-Midland by 6.8% in the first quarter. BlackRock Inc. now owns 41,829,477 shares of the company’s stock valued at $3,775,525,000 after purchasing an additional 2,665,942 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Archer-Daniels-Midland

In related news, CEO Juan R. Luciano sold 284,531 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $91.20, for a total value of $25,949,227.20. Following the transaction, the chief executive officer now owns 412,842 shares in the company, valued at $37,651,190.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Gregory A. Morris sold 117,839 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $83.47, for a total value of $9,836,021.33. Following the transaction, the senior vice president now owns 231,454 shares in the company, valued at $19,319,465.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Juan R. Luciano sold 284,531 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $91.20, for a total value of $25,949,227.20. Following the completion of the transaction, the chief executive officer now directly owns 412,842 shares in the company, valued at approximately $37,651,190.40. The disclosure for this sale can be found here. Insiders have sold a total of 402,470 shares of company stock worth $35,794,063 over the last 90 days. Insiders own 1.20% of the company’s stock.

Archer-Daniels-Midland Price Performance

Shares of ADM stock opened at $87.33 on Tuesday. The stock’s fifty day moving average is $83.07 and its 200-day moving average is $85.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.90 and a current ratio of 1.47. The stock has a market capitalization of $48.95 billion, a PE ratio of 13.75, a PEG ratio of 1.78 and a beta of 0.77. Archer-Daniels-Midland Company has a 52 week low of $58.60 and a 52 week high of $98.88.

Archer-Daniels-Midland (NYSE:ADMGet Rating) last announced its earnings results on Tuesday, July 26th. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.72 by $0.43. The company had revenue of $27.28 billion for the quarter, compared to analysts’ expectations of $24.87 billion. Archer-Daniels-Midland had a return on equity of 15.98% and a net margin of 3.81%. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.33 earnings per share. Equities research analysts expect that Archer-Daniels-Midland Company will post 6.84 EPS for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Wednesday, August 17th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.83%. Archer-Daniels-Midland’s payout ratio is presently 25.20%.

Wall Street Analysts Forecast Growth

ADM has been the subject of a number of recent research reports. Seaport Res Ptn restated a “buy” rating on shares of Archer-Daniels-Midland in a research note on Wednesday, July 27th. Wolfe Research initiated coverage on Archer-Daniels-Midland in a research note on Friday, August 12th. They issued an “outperform” rating and a $117.00 target price for the company. Finally, StockNews.com upgraded Archer-Daniels-Midland from a “hold” rating to a “buy” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.42.

About Archer-Daniels-Midland

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Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States, Switzerland, Cayman Islands, Brazil, Mexico, the United Kingdom, and internationally. The company operates through three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.

See Also

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

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