Scissortail Wealth Management LLC Purchases New Position in Archer-Daniels-Midland Company (NYSE:ADM)

Scissortail Wealth Management LLC purchased a new stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,710 shares of the company’s stock, valued at approximately $701,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADM. PCA Investment Advisory Services Inc. bought a new position in Archer-Daniels-Midland during the second quarter valued at approximately $25,000. Orion Capital Management LLC bought a new stake in shares of Archer-Daniels-Midland in the 3rd quarter valued at approximately $28,000. Tompkins Financial Corp bought a new stake in shares of Archer-Daniels-Midland in the 3rd quarter valued at approximately $28,000. Legacy Financial Group LLC bought a new stake in shares of Archer-Daniels-Midland in the 3rd quarter valued at approximately $30,000. Finally, Operose Advisors LLC bought a new stake in shares of Archer-Daniels-Midland in the 3rd quarter valued at approximately $30,000. 78.28% of the stock is owned by institutional investors.

Archer-Daniels-Midland Stock Down 0.4 %

NYSE:ADM traded down $0.25 during mid-day trading on Wednesday, hitting $60.27. 3,032,359 shares of the company’s stock traded hands, compared to its average volume of 3,898,910. The company has a fifty day moving average of $57.76 and a 200 day moving average of $65.81. Archer-Daniels-Midland Company has a twelve month low of $50.72 and a twelve month high of $87.30. The company has a market capitalization of $30.24 billion, a P/E ratio of 9.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 1.60.

Archer-Daniels-Midland (NYSE:ADM) last announced its earnings results on Tuesday, March 12th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.07). Archer-Daniels-Midland had a net margin of 3.71% and a return on equity of 15.25%. The business had revenue of $22.98 billion for the quarter, compared to analyst estimates of $23.79 billion. During the same period in the prior year, the company earned $1.93 earnings per share. The company’s quarterly revenue was down 11.4% on a year-over-year basis. On average, analysts forecast that Archer-Daniels-Midland Company will post 5.48 EPS for the current year.

Archer-Daniels-Midland Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 8th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.32%. The ex-dividend date was Wednesday, February 7th. This is an increase from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. Archer-Daniels-Midland’s payout ratio is presently 31.25%.

Archer-Daniels-Midland announced that its board has authorized a stock buyback plan on Tuesday, March 12th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

ADM has been the topic of several recent analyst reports. Stifel Nicolaus downgraded Archer-Daniels-Midland from a “buy” rating to a “hold” rating and reduced their price target for the stock from $116.00 to $56.00 in a report on Monday, January 22nd. The Goldman Sachs Group downgraded Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $90.00 to $67.00 in a report on Monday, January 22nd. Argus downgraded Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. Roth Capital downgraded Archer-Daniels-Midland from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. Finally, Roth Mkm downgraded Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $98.00 to $66.00 in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to data from MarketBeat.com, Archer-Daniels-Midland has an average rating of “Hold” and a consensus target price of $67.50.

About Archer-Daniels-Midland

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.