Handelsbanken Fonder AB Purchases 24,070 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Handelsbanken Fonder AB raised its position in Archer-Daniels-Midland Company (NYSE:ADM) by 30.1% during the fourth quarter, Holdings Channel reports. The fund owned 103,980 shares of the company’s stock after acquiring an additional 24,070 shares during the period. Handelsbanken Fonder AB’s holdings in Archer-Daniels-Midland were worth $7,509,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ADM. Orion Capital Management LLC bought a new position in Archer-Daniels-Midland in the third quarter valued at about $28,000. Tompkins Financial Corp bought a new position in Archer-Daniels-Midland in the third quarter valued at about $28,000. Legacy Financial Group LLC bought a new position in Archer-Daniels-Midland in the third quarter valued at about $30,000. Operose Advisors LLC bought a new position in Archer-Daniels-Midland in the third quarter valued at about $30,000. Finally, Strengthening Families & Communities LLC lifted its holdings in Archer-Daniels-Midland by 37.3% in the third quarter. Strengthening Families & Communities LLC now owns 641 shares of the company’s stock valued at $48,000 after acquiring an additional 174 shares during the period. Institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Price Performance

NYSE:ADM opened at $61.57 on Thursday. The firm has a market capitalization of $30.89 billion, a price-to-earnings ratio of 9.62 and a beta of 0.77. Archer-Daniels-Midland Company has a 1 year low of $50.72 and a 1 year high of $87.30. The business has a 50 day simple moving average of $58.81 and a 200-day simple moving average of $65.37. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.60 and a quick ratio of 0.95.

Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings data on Tuesday, March 12th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.07). The company had revenue of $22.98 billion during the quarter, compared to the consensus estimate of $23.79 billion. Archer-Daniels-Midland had a net margin of 3.71% and a return on equity of 15.25%. Archer-Daniels-Midland’s revenue for the quarter was down 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.93 earnings per share. Equities analysts forecast that Archer-Daniels-Midland Company will post 5.48 EPS for the current year.

Archer-Daniels-Midland announced that its board has initiated a stock repurchase 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 often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have commented on the company. Robert W. Baird cut Archer-Daniels-Midland from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $96.00 to $61.00 in a research report on Monday, January 22nd. The Goldman Sachs Group cut Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and cut their target price for the stock from $90.00 to $67.00 in a research report on Monday, January 22nd. StockNews.com cut Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Barclays cut Archer-Daniels-Midland from an “overweight” rating to an “underweight” rating and set a $60.00 target price for the company. in a research report on Monday, January 22nd. Finally, TheStreet cut Archer-Daniels-Midland from a “b-” rating to a “c+” rating in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $67.50.

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.