Wakefield Asset Management LLLP decreased its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 5.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 45,426 shares of the company’s stock after selling 2,509 shares during the period. Archer-Daniels-Midland makes up about 1.0% of Wakefield Asset Management LLLP’s portfolio, making the stock its 25th biggest position. Wakefield Asset Management LLLP’s holdings in Archer-Daniels-Midland were worth $2,753,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Archer-Daniels-Midland by 2.8% in the 1st quarter. Geode Capital Management LLC now owns 9,618,837 shares of the company’s stock valued at $546,815,000 after purchasing an additional 262,732 shares during the last quarter. Northern Trust Corp grew its position in Archer-Daniels-Midland by 2.6% during the 1st quarter. Northern Trust Corp now owns 9,407,779 shares of the company’s stock worth $536,244,000 after acquiring an additional 237,540 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in Archer-Daniels-Midland by 3.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 5,871,731 shares of the company’s stock worth $355,827,000 after acquiring an additional 184,159 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Archer-Daniels-Midland by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,459,641 shares of the company’s stock worth $254,228,000 after acquiring an additional 45,163 shares during the last quarter. Finally, Amundi Asset Management US Inc. grew its position in Archer-Daniels-Midland by 19.8% during the 1st quarter. Amundi Asset Management US Inc. now owns 3,394,289 shares of the company’s stock worth $193,505,000 after acquiring an additional 560,482 shares during the last quarter. Institutional investors own 77.08% of the company’s stock.
ADM has been the topic of a number of research reports. Zacks Investment Research lowered Archer-Daniels-Midland from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a research report on Wednesday, August 11th. Jefferies Financial Group started coverage on Archer-Daniels-Midland in a report on Wednesday, July 21st. They set a “hold” rating and a $55.00 target price on the stock. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $65.27.
Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings results on Monday, July 26th. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.30. The business had revenue of $22.93 billion for the quarter, compared to the consensus estimate of $18.30 billion. Archer-Daniels-Midland had a return on equity of 13.30% and a net margin of 3.09%. The firm’s revenue for the quarter was up 40.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. As a group, analysts predict that Archer-Daniels-Midland Company will post 4.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 8th. Shareholders of record on Wednesday, August 18th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Tuesday, August 17th. Archer-Daniels-Midland’s dividend payout ratio is currently 41.23%.
In related news, CEO Juan R. Luciano acquired 16,790 shares of the firm’s stock in a transaction on Thursday, July 29th. The stock was purchased at an average cost of $59.54 per share, with a total value of $999,676.60. Following the acquisition, the chief executive officer now owns 483,994 shares of the company’s stock, valued at approximately $28,817,002.76. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.
Archer-Daniels-Midland Co processes oilseeds, corn, wheat, cocoa and other agricultural commodities. The company operates through the following segments: Ag Services and Oilseeds, Carbohydrate Solutions and Nutrition. The Ag Services and Oilseeds segment includes activities related to the origination, merchandising, crushing, and further processing of oilseeds such as soybeans and soft seeds, such as cottonseed, sunflower seed, canola, rapeseed, and flaxseed into vegetable oils and protein meals.
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