Oppenheimer & Co. Inc. Sells 17,622 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Oppenheimer & Co. Inc. lessened its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 48.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,715 shares of the company’s stock after selling 17,622 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Archer-Daniels-Midland were worth $1,118,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in shares of Archer-Daniels-Midland in the 3rd quarter worth approximately $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Archer-Daniels-Midland in the 3rd quarter worth approximately $26,000. Riverview Trust Co bought a new stake in shares of Archer-Daniels-Midland in the 2nd quarter worth approximately $27,000. Altshuler Shaham Ltd bought a new stake in Archer-Daniels-Midland during the 2nd quarter valued at $28,000. Finally, Crewe Advisors LLC bought a new stake in Archer-Daniels-Midland during the 1st quarter valued at $30,000. Institutional investors own 78.28% of the company’s stock.

Insider Buying and Selling

In related news, CEO Juan R. Luciano sold 170,194 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $60.51, for a total value of $10,298,438.94. Following the completion of the transaction, the chief executive officer now directly owns 265,210 shares in the company, valued at approximately $16,047,857.10. The trade was a 39.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 219,348 shares of company stock worth $13,296,833. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ADM shares. Morgan Stanley lowered their target price on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. UBS Group boosted 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating and fourteen have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.83.

Archer-Daniels-Midland Stock Down 1.2 %

Shares of NYSE:ADM opened at $52.71 on Tuesday. Archer-Daniels-Midland Company has a 52-week low of $48.92 and a 52-week high of $77.35. The firm has a fifty day moving average of $57.10 and a 200 day moving average of $59.73. The firm has a market capitalization of $25.20 billion, a PE ratio of 10.58 and a beta of 0.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.44.

Archer-Daniels-Midland Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.00 annualized dividend and a yield of 3.79%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 40.16%.

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.