Archer-Daniels-Midland Company (NYSE:ADM) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 26.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 93,595 shares of the company’s stock after acquiring an additional 19,803 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Archer-Daniels-Midland were worth $6,759,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ADM. Orion Capital Management LLC acquired a new position in Archer-Daniels-Midland in the 3rd quarter valued at approximately $28,000. Tompkins Financial Corp acquired a new position in Archer-Daniels-Midland in the 3rd quarter valued at approximately $28,000. Legacy Financial Group LLC acquired a new position in shares of Archer-Daniels-Midland in the 3rd quarter worth approximately $30,000. Operose Advisors LLC acquired a new position in shares of Archer-Daniels-Midland in the 3rd quarter worth approximately $30,000. Finally, Strengthening Families & Communities LLC boosted its stake in Archer-Daniels-Midland by 37.3% in the third quarter. Strengthening Families & Communities LLC now owns 641 shares of the company’s stock worth $48,000 after purchasing an additional 174 shares in the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADM. UBS Group reissued a “neutral” rating and issued a $51.00 price objective (down previously from $104.00) on shares of Archer-Daniels-Midland in a research note on Friday, January 26th. StockNews.com lowered Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Argus lowered Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Roth Mkm lowered 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 research note on Monday, January 22nd. Finally, BMO Capital Markets dropped their target price on Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating for the company in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. Based on data from MarketBeat, Archer-Daniels-Midland currently has a consensus rating of “Hold” and a consensus price target of $67.50.

Archer-Daniels-Midland Trading Down 1.1 %

NYSE ADM opened at $61.80 on Wednesday. The stock has a 50-day simple moving average of $58.64 and a 200 day simple moving average of $65.40. The company has a market capitalization of $31.01 billion, a PE ratio of 9.66 and a beta of 0.77. The company has a current ratio of 1.60, a quick ratio of 0.95 and a debt-to-equity ratio of 0.34. Archer-Daniels-Midland Company has a 12 month low of $50.72 and a 12 month high of $87.30.

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

Archer-Daniels-Midland announced that its Board of Directors has initiated a stock repurchase program on Tuesday, March 12th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Archer-Daniels-Midland Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 8th were issued a $0.50 dividend. This is an increase from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Wednesday, February 7th. Archer-Daniels-Midland’s dividend payout ratio is 31.25%.

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.