Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,260 shares of the company’s stock after selling 4,809 shares during the period. Retirement Systems of Alabama’s holdings in Archer-Daniels-Midland were worth $6,228,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. grew its holdings in Archer-Daniels-Midland by 15,790.1% during the 2nd quarter. Pacer Advisors Inc. now owns 7,596,892 shares of the company’s stock valued at $459,232,000 after buying an additional 7,549,083 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Archer-Daniels-Midland by 41.5% during the third quarter. Wellington Management Group LLP now owns 19,430,111 shares of the company’s stock valued at $1,160,755,000 after acquiring an additional 5,702,451 shares during the last quarter. AQR Capital Management LLC increased its position in Archer-Daniels-Midland by 73.6% during the 2nd quarter. AQR Capital Management LLC now owns 2,830,927 shares of the company’s stock worth $170,960,000 after purchasing an additional 1,199,992 shares in the last quarter. State Street Corp raised its stake in Archer-Daniels-Midland by 3.3% in the 3rd quarter. State Street Corp now owns 32,045,672 shares of the company’s stock valued at $1,914,408,000 after purchasing an additional 1,018,256 shares during the last quarter. Finally, FMR LLC lifted its holdings in Archer-Daniels-Midland by 33.9% in the 3rd quarter. FMR LLC now owns 3,979,867 shares of the company’s stock valued at $237,757,000 after purchasing an additional 1,007,494 shares in the last quarter. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Archer-Daniels-Midland Price Performance

ADM opened at $49.85 on Thursday. The company has a 50 day moving average of $54.10 and a two-hundred day moving average of $58.45. Archer-Daniels-Midland Company has a 52-week low of $48.92 and a 52-week high of $74.17. The company has a quick ratio of 0.84, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. The company has a market cap of $23.85 billion, a P/E ratio of 14.24 and a beta of 0.72.

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

Archer-Daniels-Midland Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were issued a $0.50 dividend. The ex-dividend date was Thursday, November 21st. This represents a $2.00 annualized dividend and a yield of 4.01%. Archer-Daniels-Midland’s dividend payout ratio is currently 57.14%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADM. UBS Group boosted their price objective on shares of Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. BMO Capital Markets cut their price target on Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating for the company in a report on Wednesday, December 4th. Stephens assumed coverage on Archer-Daniels-Midland in a report on Wednesday, December 11th. They set an “equal weight” rating and a $55.00 price objective on the stock. Morgan Stanley dropped their target price on Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. Finally, Barclays decreased their price target 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. One investment analyst has rated the stock with a sell rating and fifteen have issued 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 $60.62.

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.