Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 8.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 193,618 shares of the company’s stock after selling 17,840 shares during the period. PNC Financial Services Group Inc.’s holdings in Archer-Daniels-Midland were worth $11,567,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its stake in shares of Archer-Daniels-Midland by 15,790.1% in the second quarter. Pacer Advisors Inc. now owns 7,596,892 shares of the company’s stock worth $459,232,000 after acquiring an additional 7,549,083 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Archer-Daniels-Midland by 141.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,991,324 shares of the company’s stock valued at $187,885,000 after purchasing an additional 1,753,077 shares during the period. AQR Capital Management LLC increased its holdings in Archer-Daniels-Midland by 73.6% during the 2nd quarter. AQR Capital Management LLC now owns 2,830,927 shares of the company’s stock worth $170,960,000 after purchasing an additional 1,199,992 shares during the period. AustralianSuper Pty Ltd raised its position in Archer-Daniels-Midland by 689.7% in the 2nd quarter. AustralianSuper Pty Ltd now owns 1,008,242 shares of the company’s stock valued at $60,948,000 after purchasing an additional 880,564 shares in the last quarter. Finally, Invenomic Capital Management LP purchased a new position in shares of Archer-Daniels-Midland in the 1st quarter valued at about $37,917,000. 78.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Juan R. Luciano sold 170,194 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $60.51, for a total transaction of $10,298,438.94. Following the transaction, the chief executive officer now owns 265,210 shares of the company’s stock, valued at $16,047,857.10. This trade represents a 39.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 219,348 shares of company stock valued at $13,296,833 in the last ninety days. 1.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ADM. UBS Group raised their target price on shares of Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, September 9th. JPMorgan Chase & Co. increased their price objective on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley decreased their price objective on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.83.

Archer-Daniels-Midland Stock Down 0.1 %

Archer-Daniels-Midland stock opened at $53.13 on Friday. The stock has a 50-day simple moving average of $56.60 and a 200-day simple moving average of $59.55. The company has a market capitalization of $25.42 billion, a P/E ratio of 15.18 and a beta of 0.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.40. Archer-Daniels-Midland Company has a fifty-two week low of $48.92 and a fifty-two week high of $77.35.

Archer-Daniels-Midland Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.76%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 57.14%.

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.