Sigma Planning Corp Sells 10,535 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Sigma Planning Corp cut its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 57.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,959 shares of the company’s stock after selling 10,535 shares during the quarter. Sigma Planning Corp’s holdings in Archer-Daniels-Midland were worth $575,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Nordea Investment Management AB boosted its holdings in Archer-Daniels-Midland by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,227,250 shares of the company’s stock valued at $88,534,000 after acquiring an additional 139,064 shares during the last quarter. Canada Pension Plan Investment Board raised its position in 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 buying an additional 31,700 shares during the last quarter. Pathstone Family Office LLC raised its position in 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 buying an additional 23,647 shares during the last quarter. Artemis Investment Management LLP grew its stake in Archer-Daniels-Midland by 12.3% in the fourth 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Archer-Daniels-Midland by 17.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 599,717 shares of the company’s stock valued at $43,312,000 after purchasing an additional 87,752 shares in the last quarter. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADM has been the subject of several analyst reports. Roth Mkm cut Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $98.00 to $66.00 in a report on Monday, January 22nd. Jefferies Financial Group lowered their price target on Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, March 13th. Robert W. Baird lowered Archer-Daniels-Midland from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $96.00 to $61.00 in a research report on Monday, January 22nd. 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 report on Thursday, March 14th. Finally, BMO Capital Markets cut 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 equities research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.50.

Archer-Daniels-Midland Price Performance

Archer-Daniels-Midland stock opened at $61.57 on Thursday. Archer-Daniels-Midland Company has a 52 week low of $50.72 and a 52 week high of $87.30. The business has a 50-day simple moving average of $58.81 and a 200 day simple moving average of $65.37. 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 stock has a market cap of $30.89 billion, a price-to-earnings ratio of 9.62 and a beta of 0.77.

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

Archer-Daniels-Midland declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 12th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors 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.