Advisors Asset Management Inc. Trims Stake in Archer-Daniels-Midland Company (NYSE:ADM)

Advisors Asset Management Inc. lessened its position in Archer-Daniels-Midland Company (NYSE:ADM) by 10.8% in the third quarter, HoldingsChannel reports. The firm owned 33,317 shares of the company’s stock after selling 4,028 shares during the quarter. Advisors Asset Management Inc.’s holdings in Archer-Daniels-Midland were worth $1,990,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ADM. Quent Capital LLC lifted its position in Archer-Daniels-Midland by 8.2% during the second quarter. Quent Capital LLC now owns 2,158 shares of the company’s stock valued at $130,000 after buying an additional 164 shares during the period. Focused Wealth Management Inc lifted its position in Archer-Daniels-Midland by 3.3% during the 2nd quarter. Focused Wealth Management Inc now owns 5,338 shares of the company’s stock valued at $323,000 after acquiring an additional 169 shares during the period. Accordant Advisory Group Inc boosted its stake in Archer-Daniels-Midland by 0.8% during the second quarter. Accordant Advisory Group Inc now owns 23,462 shares of the company’s stock worth $1,418,000 after acquiring an additional 176 shares in the last quarter. Legacy Capital Group California Inc. grew its holdings in Archer-Daniels-Midland by 1.2% in the second quarter. Legacy Capital Group California Inc. now owns 15,327 shares of the company’s stock worth $927,000 after purchasing an additional 181 shares during the period. Finally, Lake Street Advisors Group LLC increased its stake in shares of Archer-Daniels-Midland by 4.8% during the third quarter. Lake Street Advisors Group LLC now owns 4,015 shares of the company’s stock valued at $240,000 after purchasing an additional 183 shares in the last quarter. 78.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ADM shares. JPMorgan Chase & Co. boosted their target price on Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. UBS Group increased their price objective on shares of Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, Morgan Stanley cut their target price 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 investment analyst has rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.83.

Insider Buying and Selling at Archer-Daniels-Midland

In other news, CEO Juan R. Luciano sold 3,683 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $61.00, for a total transaction of $224,663.00. Following the completion of the transaction, the chief executive officer now directly owns 265,210 shares in the company, valued at approximately $16,177,810. This represents a 1.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 219,348 shares of company stock valued at $13,296,833 in the last three months. 1.20% of the stock is currently owned by corporate insiders.

Archer-Daniels-Midland Price Performance

NYSE:ADM opened at $53.13 on Monday. The stock has a market cap of $25.42 billion, a PE ratio of 15.18 and a beta of 0.73. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. The business’s 50-day simple moving average is $56.60 and its two-hundred day simple moving average is $59.52. Archer-Daniels-Midland Company has a 52 week low of $48.92 and a 52 week high of $77.35.

Archer-Daniels-Midland Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.50 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.00 annualized dividend and a yield of 3.76%. Archer-Daniels-Midland’s payout ratio is 57.14%.

Archer-Daniels-Midland Company 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.