DnB Asset Management AS Has $5.74 Million Position in Archer-Daniels-Midland Company (NYSE:ADM)

DnB Asset Management AS decreased its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 33.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 113,635 shares of the company’s stock after selling 56,828 shares during the period. DnB Asset Management AS’s holdings in Archer-Daniels-Midland were worth $5,741,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Pictet Asset Management Holding SA increased its stake in shares of Archer-Daniels-Midland by 2.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 222,932 shares of the company’s stock valued at $11,263,000 after purchasing an additional 5,399 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Archer-Daniels-Midland by 18.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 848,364 shares of the company’s stock worth $42,859,000 after acquiring an additional 129,525 shares in the last quarter. Boussard & Gavaudan Investment Management LLP bought a new position in shares of Archer-Daniels-Midland in the fourth quarter worth about $2,237,000. Norges Bank acquired a new position in Archer-Daniels-Midland during the 4th quarter worth approximately $333,521,000. Finally, Caisse Des Depots ET Consignations bought a new position in Archer-Daniels-Midland in the 4th quarter valued at approximately $1,278,000. 78.28% of the stock is owned by institutional investors.

Archer-Daniels-Midland Trading Down 0.8 %

NYSE:ADM opened at $47.87 on Monday. Archer-Daniels-Midland Company has a 52 week low of $44.92 and a 52 week high of $66.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.39. The firm’s fifty day moving average is $47.89 and its 200-day moving average is $52.14. The firm has a market cap of $22.97 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.54 and a beta of 0.67.

Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. Archer-Daniels-Midland had a return on equity of 10.44% and a net margin of 2.10%. The firm had revenue of $21.50 billion during the quarter, compared to the consensus estimate of $22.77 billion. During the same period last year, the business posted $1.36 EPS. The business’s revenue was down 6.4% compared to the same quarter last year. Equities analysts expect that Archer-Daniels-Midland Company will post 4.31 earnings per share for the current year.

Archer-Daniels-Midland announced that its board has approved a share repurchase program on Wednesday, December 11th that authorizes the company to repurchase 100,000,000 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Archer-Daniels-Midland Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a $0.51 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.04 annualized dividend and a dividend yield of 4.26%. This is a positive change from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. Archer-Daniels-Midland’s payout ratio is currently 56.51%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ADM. Barclays decreased their target price on shares of Archer-Daniels-Midland from $50.00 to $48.00 and set an “underweight” rating on the stock in a research note on Monday, February 24th. Stephens lowered their target price on Archer-Daniels-Midland from $55.00 to $52.00 in a report on Tuesday, February 4th. Morgan Stanley cut their price target on Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Citigroup upped their price objective on Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Bank of America cut their target price on shares of Archer-Daniels-Midland from $54.00 to $48.00 and set an “underperform” rating on the stock in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $53.63.

About Archer-Daniels-Midland

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.