New York State Teachers Retirement System Trims Stock Position in Archer Daniels Midland Company $ADM

New York State Teachers Retirement System lessened its position in shares of Archer Daniels Midland Company (NYSE:ADM) by 13.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 386,768 shares of the company’s stock after selling 60,951 shares during the quarter. New York State Teachers Retirement System’s holdings in Archer Daniels Midland were worth $20,414,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Archer Daniels Midland by 10.9% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 508,956 shares of the company’s stock valued at $26,863,000 after buying an additional 49,954 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Archer Daniels Midland during the 1st quarter valued at approximately $333,000. Perpetual Ltd acquired a new stake in Archer Daniels Midland in the 2nd quarter valued at approximately $227,000. Cambridge Investment Research Advisors Inc. increased its holdings in Archer Daniels Midland by 18.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 167,515 shares of the company’s stock valued at $8,042,000 after purchasing an additional 26,328 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Archer Daniels Midland by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,506,219 shares of the company’s stock valued at $72,314,000 after purchasing an additional 5,348 shares during the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer Daniels Midland Stock Performance

NYSE:ADM opened at $63.29 on Friday. The company has a fifty day simple moving average of $61.35 and a two-hundred day simple moving average of $54.27. The company has a market cap of $30.41 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 4.96 and a beta of 0.70. The company has a quick ratio of 0.90, a current ratio of 1.42 and a debt-to-equity ratio of 0.34. Archer Daniels Midland Company has a 52 week low of $40.98 and a 52 week high of $64.57.

Archer Daniels Midland (NYSE:ADM) last posted its quarterly earnings results on Monday, December 2nd. The company reported $1.63 EPS for the quarter. The business had revenue of $21.70 billion during the quarter. Archer Daniels Midland had a net margin of 1.33% and a return on equity of 8.43%. As a group, equities analysts anticipate that Archer Daniels Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer Daniels Midland Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were paid a dividend of $0.51 per share. The ex-dividend date was Wednesday, August 20th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.2%. Archer Daniels Midland’s payout ratio is presently 89.87%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ADM shares. Wall Street Zen upgraded shares of Archer Daniels Midland from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Barclays upgraded shares of Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $50.00 to $61.00 in a report on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Archer Daniels Midland in a report on Wednesday, October 8th. JPMorgan Chase & Co. started coverage on shares of Archer Daniels Midland in a report on Wednesday, August 20th. They issued a “neutral” rating and a $61.00 target price for the company. Finally, UBS Group reiterated a “buy” rating and issued a $70.00 target price (up previously from $60.00) on shares of Archer Daniels Midland in a report on Monday, August 11th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $55.50.

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.