Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 2.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,598,347 shares of the company’s stock after selling 41,680 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Archer-Daniels-Midland were worth $115,433,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in shares of Archer-Daniels-Midland by 12.8% in the 4th quarter. Nordea Investment Management AB now owns 1,227,250 shares of the company’s stock valued at $88,534,000 after purchasing an additional 139,064 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Archer-Daniels-Midland by 3.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,072,606 shares of the company’s stock valued at $80,896,000 after purchasing an additional 31,700 shares during the last quarter. Pathstone Family Office LLC lifted its holdings in shares of Archer-Daniels-Midland by 543.2% in the 3rd quarter. Pathstone Family Office LLC now owns 28,000 shares of the company’s stock valued at $2,112,000 after purchasing an additional 23,647 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Archer-Daniels-Midland by 12.3% in the 4th quarter. Artemis Investment Management LLP now owns 733,113 shares of the company’s stock valued at $52,946,000 after purchasing an additional 80,245 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its holdings in shares of Archer-Daniels-Midland by 37.2% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 17,386 shares of the company’s stock valued at $1,311,000 after purchasing an additional 4,711 shares during the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.

Archer-Daniels-Midland Stock Performance

ADM opened at $60.26 on Wednesday. The stock has a market cap of $30.24 billion, a P/E ratio of 9.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.60 and a quick ratio of 0.95. The stock’s 50 day simple moving average is $57.76 and its 200 day simple moving average is $65.81. Archer-Daniels-Midland Company has a 1-year low of $50.72 and a 1-year high of $87.30.

Archer-Daniels-Midland (NYSE:ADM) last released its quarterly 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 during the quarter, compared to analyst estimates of $23.79 billion. Archer-Daniels-Midland had a return on equity of 15.25% and a net margin of 3.71%. The business’s revenue was down 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 EPS. As a group, equities analysts anticipate that Archer-Daniels-Midland Company will post 5.48 EPS for the current fiscal year.

Archer-Daniels-Midland announced that its board has initiated a share repurchase plan on Tuesday, March 12th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Archer-Daniels-Midland Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 8th were paid a $0.50 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $2.00 dividend on an annualized basis and a yield of 3.32%. This is a positive change from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. Archer-Daniels-Midland’s dividend payout ratio is presently 31.25%.

Analyst Ratings Changes

ADM has been the subject of several analyst reports. The Goldman Sachs Group downgraded Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $90.00 to $67.00 in a research note on Monday, January 22nd. Barclays downgraded Archer-Daniels-Midland from an “overweight” rating to an “underweight” rating and set a $60.00 price objective for the company. in a research note on Monday, January 22nd. UBS Group reaffirmed a “neutral” rating and set a $51.00 price objective (down from $104.00) on shares of Archer-Daniels-Midland in a research note on Friday, January 26th. Citigroup upped their price objective on Archer-Daniels-Midland from $63.00 to $64.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Finally, BMO Capital Markets dropped their target price on Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 13th. One 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 company has a consensus rating of “Hold” and a consensus target price of $67.50.

Archer-Daniels-Midland Profile

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.