Illinois Municipal Retirement Fund Has $9.80 Million Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

Illinois Municipal Retirement Fund lowered its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,753 shares of the company’s stock after selling 26,549 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Archer-Daniels-Midland were worth $9,804,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB increased its position in shares of Archer-Daniels-Midland by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,227,250 shares of the company’s stock valued at $88,534,000 after purchasing an additional 139,064 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Archer-Daniels-Midland by 3.0% during the third quarter. Canada Pension Plan Investment Board now owns 1,072,606 shares of the company’s stock valued at $80,896,000 after buying an additional 31,700 shares during the last quarter. Pathstone Family Office LLC raised its stake in Archer-Daniels-Midland by 543.2% during the third quarter. Pathstone Family Office LLC now owns 28,000 shares of the company’s stock valued at $2,112,000 after buying an additional 23,647 shares during the last quarter. Artemis Investment Management LLP increased its holdings in shares of Archer-Daniels-Midland by 12.3% in the 4th quarter. Artemis Investment Management LLP now owns 733,113 shares of the company’s stock worth $52,946,000 after purchasing an additional 80,245 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Archer-Daniels-Midland by 17.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 599,717 shares of the company’s stock worth $43,312,000 after purchasing an additional 87,752 shares in the last quarter. Institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Price Performance

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

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). 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 during the quarter, compared to analyst estimates of $23.79 billion. During the same quarter in the prior year, the company posted $1.93 earnings per share. The company’s revenue was down 11.4% on a year-over-year basis. Sell-side analysts predict that Archer-Daniels-Midland Company will post 5.48 earnings per share for the current fiscal year.

Archer-Daniels-Midland declared that its board has approved a stock repurchase plan on Tuesday, March 12th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Archer-Daniels-Midland Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 8th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.24%. This is a positive change from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. Archer-Daniels-Midland’s dividend payout ratio is currently 31.25%.

Analyst Upgrades and Downgrades

ADM has been the subject of several recent research reports. Jefferies Financial Group cut their price target on Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, March 13th. Robert W. Baird downgraded Archer-Daniels-Midland from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $96.00 to $61.00 in a research report on Monday, January 22nd. Roth Capital downgraded Archer-Daniels-Midland from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. Barclays downgraded Archer-Daniels-Midland from an “overweight” rating to an “underweight” rating and set a $60.00 target price on the stock. in a research report on Monday, January 22nd. Finally, Citigroup upped their price objective on Archer-Daniels-Midland from $63.00 to $64.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. According to MarketBeat, Archer-Daniels-Midland currently has a consensus rating of “Hold” and an average target price of $67.50.

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.