Cornerstone Advisors LLC Acquires 800 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Cornerstone Advisors LLC raised its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 4.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,300 shares of the company’s stock after buying an additional 800 shares during the period. Cornerstone Advisors LLC’s holdings in Archer-Daniels-Midland were worth $1,153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Lake Street Advisors Group LLC bought a new stake in Archer-Daniels-Midland during the 1st quarter worth approximately $201,000. Crewe Advisors LLC bought a new stake in Archer-Daniels-Midland during the first quarter worth $30,000. Freestone Capital Holdings LLC purchased a new stake in Archer-Daniels-Midland in the 1st quarter valued at $318,000. Canada Pension Plan Investment Board lifted its stake in Archer-Daniels-Midland by 68.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,557,076 shares of the company’s stock valued at $97,800,000 after acquiring an additional 632,100 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in Archer-Daniels-Midland by 0.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 335,469 shares of the company’s stock worth $21,071,000 after acquiring an additional 1,147 shares during the last quarter. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Archer-Daniels-Midland

In other news, CEO Juan R. Luciano sold 3,683 shares of Archer-Daniels-Midland stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $61.00, for a total value of $224,663.00. Following the completion of the transaction, the chief executive officer now directly owns 265,210 shares in the company, valued at approximately $16,177,810. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 219,348 shares of company stock valued at $13,296,833 in the last 90 days. 1.20% of the stock is currently owned by company insiders.

Archer-Daniels-Midland Price Performance

NYSE ADM opened at $53.15 on Friday. The company has a market cap of $25.43 billion, a PE ratio of 15.19 and a beta of 0.73. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. The firm’s 50-day simple moving average is $56.74 and its two-hundred day simple moving average is $59.60. Archer-Daniels-Midland Company has a 52 week low of $48.92 and a 52 week high of $77.35.

Archer-Daniels-Midland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.50 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a yield of 3.76%. Archer-Daniels-Midland’s dividend payout ratio is 57.14%.

Analyst Ratings Changes

A number of research firms recently weighed in on ADM. JPMorgan Chase & Co. raised their price target on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Morgan Stanley dropped 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 research report on Tuesday, November 12th. Finally, UBS Group upped their target price on Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, September 9th. One analyst has rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $62.83.

Archer-Daniels-Midland Company 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.