Sumitomo Mitsui DS Asset Management Company Ltd Purchases 421 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Archer-Daniels-Midland Company (NYSE:ADM) by 0.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 50,724 shares of the company’s stock after buying an additional 421 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Archer-Daniels-Midland were worth $3,663,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Signaturefd LLC lifted its stake in shares of Archer-Daniels-Midland by 1.0% in the fourth quarter. Signaturefd LLC now owns 18,051 shares of the company’s stock valued at $1,304,000 after buying an additional 183 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its position in Archer-Daniels-Midland by 8.0% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 3,554 shares of the company’s stock valued at $257,000 after acquiring an additional 262 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Archer-Daniels-Midland by 58.2% during the 4th quarter. Lindbrook Capital LLC now owns 2,193 shares of the company’s stock valued at $158,000 after purchasing an additional 807 shares during the last quarter. abrdn plc raised its stake in shares of Archer-Daniels-Midland by 32.9% in the fourth quarter. abrdn plc now owns 425,311 shares of the company’s stock worth $30,716,000 after purchasing an additional 105,361 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its holdings in shares of Archer-Daniels-Midland by 35.4% in the fourth quarter. J.W. Cole Advisors Inc. now owns 18,830 shares of the company’s stock valued at $1,360,000 after purchasing an additional 4,919 shares in the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.

Wall Street Analysts Forecast Growth

ADM has been the subject of several recent research reports. TheStreet downgraded Archer-Daniels-Midland from a “b-” rating to a “c+” rating in a report on Monday, February 12th. StockNews.com downgraded shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Jefferies Financial Group cut their price target on shares of Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating on the stock in a report on Wednesday, March 13th. The Goldman Sachs Group lowered shares of Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $90.00 to $67.00 in a research note on Monday, January 22nd. Finally, Bank of America cut their target price on Archer-Daniels-Midland from $85.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $67.50.

Archer-Daniels-Midland Price Performance

ADM opened at $62.50 on Tuesday. The company has a market capitalization of $31.36 billion, a price-to-earnings ratio of 9.77 and a beta of 0.77. The company has a quick ratio of 0.95, a current ratio of 1.60 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $58.46 and a 200-day moving average price of $65.48. Archer-Daniels-Midland Company has a twelve month low of $50.72 and a twelve month high of $87.30.

Archer-Daniels-Midland (NYSE:ADM) last issued its earnings results on Tuesday, March 12th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.07). The business had revenue of $22.98 billion for the quarter, compared to the consensus estimate of $23.79 billion. Archer-Daniels-Midland had a net margin of 3.71% and a return on equity of 15.25%. The company’s revenue was down 11.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.93 EPS. Equities analysts expect that Archer-Daniels-Midland Company will post 5.48 EPS for the current year.

Archer-Daniels-Midland Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 8th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $2.00 annualized dividend and a yield of 3.20%. This is an increase from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. Archer-Daniels-Midland’s dividend payout ratio (DPR) is currently 31.25%.

Archer-Daniels-Midland declared that its board has approved a share repurchase plan on Tuesday, March 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

About Archer-Daniels-Midland

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.