Archer-Daniels-Midland Company (NYSE:ADM) Stake Cut by Truist Financial Corp

Truist Financial Corp cut its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 52.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,523 shares of the company’s stock after selling 103,879 shares during the quarter. Truist Financial Corp’s holdings in Archer-Daniels-Midland were worth $6,899,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ADM. Morgan Stanley lifted its stake in Archer-Daniels-Midland by 41.8% during the third quarter. Morgan Stanley now owns 8,641,438 shares of the company’s stock worth $651,737,000 after purchasing an additional 2,547,232 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Archer-Daniels-Midland by 27,778.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,009,197 shares of the company’s stock worth $76,114,000 after purchasing an additional 1,005,577 shares during the last quarter. AQR Capital Management LLC lifted its stake in Archer-Daniels-Midland by 31.4% during the third quarter. AQR Capital Management LLC now owns 2,864,305 shares of the company’s stock worth $216,026,000 after purchasing an additional 683,984 shares during the last quarter. LSV Asset Management increased its position in Archer-Daniels-Midland by 33.8% in the third quarter. LSV Asset Management now owns 2,395,296 shares of the company’s stock worth $180,653,000 after buying an additional 605,696 shares during the period. Finally, Nomura Holdings Inc. increased its position in Archer-Daniels-Midland by 150.1% in the third quarter. Nomura Holdings Inc. now owns 171,629 shares of the company’s stock worth $12,944,000 after buying an additional 513,903 shares during the period. 78.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on ADM. Bank of America dropped 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. StockNews.com lowered Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Stifel Nicolaus lowered Archer-Daniels-Midland from a “buy” rating to a “hold” rating and dropped their target price for the stock from $116.00 to $56.00 in a research report on Monday, January 22nd. Roth Capital lowered Archer-Daniels-Midland from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. Finally, BMO Capital Markets lowered their price target on Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating on the stock in a report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Archer-Daniels-Midland currently has a consensus rating of “Hold” and an average target price of $67.50.

Archer-Daniels-Midland Trading Down 0.3 %

Shares of ADM stock opened at $59.19 on Friday. The stock has a 50-day simple moving average of $59.52 and a 200 day simple moving average of $64.85. Archer-Daniels-Midland Company has a fifty-two week low of $50.72 and a fifty-two week high of $87.30. The stock has a market capitalization of $29.27 billion, a P/E ratio of 10.38 and a beta of 0.78. The company has a quick ratio of 0.95, a current ratio of 1.47 and a debt-to-equity ratio of 0.35.

Archer-Daniels-Midland (NYSE:ADM) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. The business had revenue of $21.85 billion during the quarter, compared to analyst estimates of $22.26 billion. During the same quarter last year, the company posted $2.09 EPS. Archer-Daniels-Midland’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, sell-side analysts expect that Archer-Daniels-Midland Company will post 5.48 earnings per share for the current fiscal year.

Archer-Daniels-Midland announced that its Board of Directors has approved a share buyback program on Tuesday, March 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Archer-Daniels-Midland Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 3.38%. Archer-Daniels-Midland’s payout ratio is presently 35.09%.

Archer-Daniels-Midland Company 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.