Old North State Trust LLC Has $467,000 Position in Archer-Daniels-Midland Company (NYSE:ADM)

Old North State Trust LLC lessened its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 57.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,469 shares of the company’s stock after selling 3,315 shares during the period. Old North State Trust LLC’s holdings in Archer-Daniels-Midland were worth $467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADM. Norges Bank bought a new position in Archer-Daniels-Midland during the fourth quarter worth $525,111,000. Providence Capital Advisors LLC acquired a new position in shares of Archer-Daniels-Midland during the first quarter valued at about $58,266,000. Moneta Group Investment Advisors LLC acquired a new position in shares of Archer-Daniels-Midland during the fourth quarter valued at about $369,091,000. BlackRock Inc. grew its position in Archer-Daniels-Midland by 7.6% during the first quarter. BlackRock Inc. now owns 47,965,394 shares of the company’s stock worth $3,820,923,000 after buying an additional 3,391,054 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Archer-Daniels-Midland by 25.0% during the first quarter. Wellington Management Group LLP now owns 13,684,109 shares of the company’s stock worth $1,090,076,000 after buying an additional 2,733,532 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.

Archer-Daniels-Midland Trading Up 0.1 %

ADM stock traded up $0.07 during midday trading on Wednesday, reaching $79.77. The stock had a trading volume of 218,853 shares, compared to its average volume of 2,953,551. The company has a quick ratio of 1.00, a current ratio of 1.63 and a debt-to-equity ratio of 0.33. Archer-Daniels-Midland Company has a twelve month low of $69.92 and a twelve month high of $98.28. The firm has a market cap of $42.76 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 1.71 and a beta of 0.83. The business has a fifty day simple moving average of $81.84 and a two-hundred day simple moving average of $78.35.

Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.30. Archer-Daniels-Midland had a net margin of 4.14% and a return on equity of 17.52%. The business had revenue of $25.19 billion for the quarter, compared to analyst estimates of $25.82 billion. During the same period in the prior year, the business posted $2.15 earnings per share. Archer-Daniels-Midland’s revenue was down 7.7% compared to the same quarter last year. As a group, research analysts expect that Archer-Daniels-Midland Company will post 7.19 EPS for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 16th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Tuesday, August 15th. Archer-Daniels-Midland’s payout ratio is 24.03%.

Wall Street Analysts Forecast Growth

ADM has been the subject of a number of research reports. Barclays reduced their price objective on Archer-Daniels-Midland from $99.00 to $95.00 in a research report on Thursday, June 1st. Argus boosted their price target on shares of Archer-Daniels-Midland from $91.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. StockNews.com began coverage on shares of Archer-Daniels-Midland in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Morgan Stanley upped their target price on shares of Archer-Daniels-Midland from $83.00 to $87.00 and gave the company an “equal weight” rating in a research note on Monday, July 31st. Finally, Roth Mkm initiated coverage on shares of Archer-Daniels-Midland in a research report on Thursday, June 22nd. They issued a “buy” rating and a $92.00 price target for the company. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Archer-Daniels-Midland has a consensus rating of “Moderate Buy” and an average price target of $97.50.

Insiders Place Their Bets

In other Archer-Daniels-Midland news, insider Fruit Molly L. Strader sold 1,455 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $86.80, for a total value of $126,294.00. Following the completion of the sale, the insider now owns 10,809 shares of the company’s stock, valued at $938,221.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

Archer-Daniels-Midland Company Profile

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