State Board of Administration of Florida Retirement System Has $26.26 Million Position in Archer Daniels Midland Company $ADM

State Board of Administration of Florida Retirement System raised its holdings in shares of Archer Daniels Midland Company (NYSE:ADM) by 1.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 497,602 shares of the company’s stock after buying an additional 5,330 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Archer Daniels Midland were worth $26,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADM. Headlands Technologies LLC acquired a new stake in shares of Archer Daniels Midland during the 1st quarter worth about $25,000. SOA Wealth Advisors LLC. bought a new position in Archer Daniels Midland in the 2nd quarter valued at about $25,000. Trust Co. of Toledo NA OH bought a new position in Archer Daniels Midland in the 2nd quarter valued at about $32,000. Elevation Point Wealth Partners LLC acquired a new stake in Archer Daniels Midland during the second quarter worth approximately $36,000. Finally, Evelyn Partners Investment Management Services Ltd bought a new stake in shares of Archer Daniels Midland during the second quarter worth approximately $37,000. 78.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ADM. Zacks Research lowered Archer Daniels Midland from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $59.00 price objective (down from $61.00) on shares of Archer Daniels Midland in a report on Wednesday, November 5th. Morgan Stanley increased their price objective on Archer Daniels Midland from $47.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 12th. Barclays raised shares of Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $50.00 to $61.00 in a research report on Wednesday, August 6th. Finally, Wall Street Zen upgraded shares of Archer Daniels Midland from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $55.25.

Archer Daniels Midland Stock Performance

ADM opened at $60.74 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 1.42. Archer Daniels Midland Company has a 52-week low of $40.98 and a 52-week high of $65.00. The firm has a market cap of $29.19 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 4.78 and a beta of 0.70. The business’s fifty day moving average is $60.34 and its 200-day moving average is $57.07.

Archer Daniels Midland (NYSE:ADM) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.96 billion. Archer Daniels Midland had a net margin of 1.33% and a return on equity of 8.43%. Archer Daniels Midland’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 earnings per share. Archer Daniels Midland has set its FY 2025 guidance at 3.250-3.500 EPS. Sell-side analysts expect that Archer Daniels Midland Company will post 4.31 EPS for the current fiscal year.

Archer Daniels Midland Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 19th will be given a dividend of $0.51 per share. The ex-dividend date is Wednesday, November 19th. This represents a $2.04 annualized dividend and a dividend yield of 3.4%. Archer Daniels Midland’s dividend payout ratio (DPR) is currently 83.27%.

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.