City Center Advisors LLC Buys 888 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

City Center Advisors LLC boosted its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 14.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,968 shares of the company’s stock after acquiring an additional 888 shares during the period. City Center Advisors LLC’s holdings in Archer-Daniels-Midland were worth $352,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADM. Empower Advisory Group LLC raised its stake in Archer-Daniels-Midland by 6.4% in the third quarter. Empower Advisory Group LLC now owns 1,138,455 shares of the company’s stock valued at $68,011,000 after purchasing an additional 68,133 shares in the last quarter. Nordea Investment Management AB increased its holdings in Archer-Daniels-Midland by 30.7% in the 4th quarter. Nordea Investment Management AB now owns 2,082,442 shares of the company’s stock valued at $105,163,000 after buying an additional 489,217 shares during the period. Pacer Advisors Inc. raised its position in shares of Archer-Daniels-Midland by 6.4% in the 3rd quarter. Pacer Advisors Inc. now owns 8,086,446 shares of the company’s stock valued at $483,084,000 after buying an additional 489,554 shares in the last quarter. Marathon Asset Management Ltd lifted its holdings in shares of Archer-Daniels-Midland by 4.5% during the 3rd quarter. Marathon Asset Management Ltd now owns 303,155 shares of the company’s stock worth $18,110,000 after acquiring an additional 13,177 shares during the period. Finally, CFS Investment Advisory Services LLC bought a new position in Archer-Daniels-Midland in the third quarter valued at approximately $1,526,000. 78.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on ADM. BMO Capital Markets cut their target price on Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating for the company in a research note on Wednesday, December 4th. Barclays reduced their price objective on Archer-Daniels-Midland from $60.00 to $56.00 and set an “underweight” rating on the stock in a research note on Wednesday, December 4th. Stephens initiated coverage on Archer-Daniels-Midland in a research note on Wednesday, December 11th. They set an “equal weight” rating and a $55.00 target price for the company. Morgan Stanley reduced their price target on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. Finally, Citigroup upped their price objective on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.62.

Archer-Daniels-Midland Stock Up 2.6 %

Shares of NYSE:ADM opened at $51.13 on Monday. The firm has a market cap of $24.47 billion, a P/E ratio of 14.61 and a beta of 0.72. The company has a quick ratio of 0.84, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Archer-Daniels-Midland Company has a 12-month low of $48.40 and a 12-month high of $70.51. The business has a fifty day simple moving average of $51.90 and a 200 day simple moving average of $57.15.

Archer-Daniels-Midland Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.91%. The ex-dividend date was Thursday, November 21st. Archer-Daniels-Midland’s payout ratio is presently 57.14%.

Archer-Daniels-Midland declared that its Board of Directors has initiated a share buyback program on Wednesday, December 11th that permits the company to repurchase 100,000,000 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.