Pinnacle Associates Ltd. Has $1.16 Million Stock Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

Pinnacle Associates Ltd. reduced its stake in Archer-Daniels-Midland Company (NYSE:ADMFree Report) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,100 shares of the company’s stock after selling 1,301 shares during the period. Pinnacle Associates Ltd.’s holdings in Archer-Daniels-Midland were worth $1,163,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. PCA Investment Advisory Services Inc. bought a new position in Archer-Daniels-Midland during the second quarter worth about $25,000. Orion Capital Management LLC bought a new position in shares of Archer-Daniels-Midland during the third quarter worth approximately $28,000. Tompkins Financial Corp acquired a new stake in shares of Archer-Daniels-Midland in the third quarter valued at approximately $28,000. Legacy Financial Group LLC bought a new stake in shares of Archer-Daniels-Midland in the third quarter valued at approximately $30,000. Finally, Operose Advisors LLC acquired a new stake in Archer-Daniels-Midland during the third quarter worth approximately $30,000. 78.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Stifel Nicolaus lowered Archer-Daniels-Midland from a “buy” rating to a “hold” rating and reduced their target price for the stock from $116.00 to $56.00 in a report on Monday, January 22nd. UBS Group reissued a “neutral” rating and issued a $51.00 target price (down from $104.00) on shares of Archer-Daniels-Midland in a report on Friday, January 26th. TheStreet downgraded shares of Archer-Daniels-Midland from a “b-” rating to a “c+” rating in a report on Monday, February 12th. Roth Capital cut shares of Archer-Daniels-Midland from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. Finally, Citigroup began coverage on Archer-Daniels-Midland in a research note on Thursday, February 1st. They set a “neutral” rating and a $57.00 target price for the company. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.00.

View Our Latest Report on ADM

Archer-Daniels-Midland Trading Up 0.6 %

Shares of ADM stock opened at $62.70 on Wednesday. Archer-Daniels-Midland Company has a 1-year low of $50.72 and a 1-year high of $87.30. 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 stock has a market cap of $31.97 billion, a price-to-earnings ratio of 9.80 and a beta of 0.77. The stock has a 50-day moving average of $55.88 and a 200-day moving average of $66.99.

Archer-Daniels-Midland (NYSE:ADMGet Free Report) last released 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 firm had revenue of $22.98 billion for the quarter, compared to analyst estimates of $23.79 billion. Archer-Daniels-Midland had a net margin of 3.71% and a return on equity of 15.25%. The business’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 EPS. On average, equities research analysts forecast that Archer-Daniels-Midland Company will post 5.58 earnings per share for the current year.

Archer-Daniels-Midland Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 8th were issued a $0.50 dividend. This is a positive change from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, February 7th. This represents a $2.00 annualized dividend and a yield of 3.19%. Archer-Daniels-Midland’s payout ratio is presently 31.25%.

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

About Archer-Daniels-Midland

(Free Report)

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.

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

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