CIBC Asset Management Inc Buys 1,557 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

CIBC Asset Management Inc increased its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 1.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 85,318 shares of the company’s stock after acquiring an additional 1,557 shares during the period. CIBC Asset Management Inc’s holdings in Archer-Daniels-Midland were worth $4,310,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ADM. Harbor Capital Advisors Inc. bought a new stake in shares of Archer-Daniels-Midland during the third quarter worth $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Archer-Daniels-Midland during the third quarter worth $26,000. Peterson Financial Group Inc. bought a new stake in shares of Archer-Daniels-Midland during the third quarter worth $28,000. Raleigh Capital Management Inc. lifted its position in shares of Archer-Daniels-Midland by 179.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 556 shares of the company’s stock worth $28,000 after purchasing an additional 357 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Archer-Daniels-Midland during the fourth quarter worth $28,000. 78.28% of the stock is currently owned by institutional investors.

Archer-Daniels-Midland Price Performance

ADM opened at $46.09 on Thursday. The business’s 50-day moving average is $49.68 and its two-hundred day moving average is $54.47. Archer-Daniels-Midland Company has a 1 year low of $44.92 and a 1 year high of $66.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.44 and a quick ratio of 0.84. The firm has a market capitalization of $22.05 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.47 and a beta of 0.72.

Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.07. The business had revenue of $21.50 billion during the quarter, compared to the consensus estimate of $22.77 billion. Archer-Daniels-Midland had a return on equity of 10.44% and a net margin of 2.10%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the company earned $1.36 earnings per share. Research analysts anticipate that Archer-Daniels-Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer-Daniels-Midland Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Tuesday, February 18th. This is an increase from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. Archer-Daniels-Midland’s dividend payout ratio (DPR) is currently 55.40%.

Archer-Daniels-Midland announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that allows the company to repurchase 100,000,000 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ADM shares. Barclays decreased their target price on Archer-Daniels-Midland from $56.00 to $50.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. Morgan Stanley cut their price target on Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Citigroup raised their price target on Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Bank of America cut their price target on Archer-Daniels-Midland from $54.00 to $48.00 and set an “underperform” rating on the stock in a research note on Tuesday, February 11th. Finally, Stephens cut their price target on Archer-Daniels-Midland from $55.00 to $52.00 in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $55.11.

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.