Patrick M Sweeney & Associates Inc. Takes Position in Archer-Daniels-Midland Company (NYSE:ADM)

Patrick M Sweeney & Associates Inc. bought a new position in shares of Archer-Daniels-Midland Company (NYSE:ADM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,490 shares of the company’s stock, valued at approximately $324,000.

Several other institutional investors and hedge funds have also modified their holdings of ADM. Charles Schwab Investment Management Inc. raised its stake in shares of Archer-Daniels-Midland by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,312,227 shares of the company’s stock worth $239,209,000 after buying an additional 109,757 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Archer-Daniels-Midland by 6.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,688 shares of the company’s stock worth $1,422,000 after acquiring an additional 1,249 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in Archer-Daniels-Midland by 40.0% during the fourth quarter. Apollon Wealth Management LLC now owns 9,240 shares of the company’s stock valued at $667,000 after purchasing an additional 2,638 shares during the period. Fielder Capital Group LLC bought a new stake in Archer-Daniels-Midland in the fourth quarter valued at approximately $596,000. Finally, Metis Global Partners LLC boosted its position in shares of Archer-Daniels-Midland by 5.9% during the fourth quarter. Metis Global Partners LLC now owns 42,320 shares of the company’s stock worth $3,056,000 after purchasing an additional 2,361 shares in the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

Archer-Daniels-Midland Stock Performance

Shares of NYSE:ADM traded up $0.44 during midday trading on Wednesday, reaching $62.03. 4,028,144 shares of the company traded hands, compared to its average volume of 5,772,851. Archer-Daniels-Midland Company has a 12 month low of $50.72 and a 12 month high of $87.30. The firm’s fifty day moving average price is $59.95 and its two-hundred day moving average price is $64.43. The company has a quick ratio of 0.88, a current ratio of 1.47 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $30.67 billion, a price-to-earnings ratio of 10.80 and a beta of 0.78.

Archer-Daniels-Midland (NYSE:ADM) last issued its earnings results on Tuesday, April 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.11. The business had revenue of $21.85 billion during the quarter, compared to analyst estimates of $22.26 billion. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. Archer-Daniels-Midland’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 earnings per share. On average, equities analysts expect that Archer-Daniels-Midland Company will post 5.58 earnings per share for the current year.

Archer-Daniels-Midland declared that its Board of Directors has initiated a share buyback plan on Tuesday, March 12th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Archer-Daniels-Midland Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Wednesday, May 15th. Archer-Daniels-Midland’s dividend payout ratio is currently 35.09%.

Analysts Set New Price Targets

ADM has been the topic of several recent analyst reports. StockNews.com lowered Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Robert W. Baird cut Archer-Daniels-Midland from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $96.00 to $61.00 in a research note on Monday, January 22nd. TheStreet cut shares of Archer-Daniels-Midland from a “b-” rating to a “c+” rating in a report on Monday, February 12th. Roth Mkm lowered shares of Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $98.00 to $66.00 in a research note on Monday, January 22nd. Finally, Barclays downgraded Archer-Daniels-Midland from an “overweight” rating to an “underweight” rating and set a $60.00 price target on the stock. in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.