Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN trimmed its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,273 shares of the company’s stock after selling 1,375 shares during the quarter. OLD National Bancorp IN’s holdings in Archer-Daniels-Midland were worth $974,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new stake in Archer-Daniels-Midland during the 3rd quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Archer-Daniels-Midland during the third quarter worth $26,000. Peterson Financial Group Inc. purchased a new position in Archer-Daniels-Midland in the third quarter valued at $28,000. Raleigh Capital Management Inc. grew its stake in Archer-Daniels-Midland by 179.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 556 shares of the company’s stock worth $28,000 after purchasing an additional 357 shares in the last quarter. Finally, ST Germain D J Co. Inc. increased its holdings in Archer-Daniels-Midland by 724.6% during the 4th quarter. ST Germain D J Co. Inc. now owns 569 shares of the company’s stock worth $29,000 after purchasing an additional 500 shares during the period. 78.28% of the stock is owned by institutional investors and hedge funds.

Archer-Daniels-Midland Stock Performance

Shares of NYSE ADM opened at $51.20 on Friday. The company has a market cap of $24.50 billion, a PE ratio of 14.63 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 0.84. Archer-Daniels-Midland Company has a 12 month low of $48.40 and a 12 month high of $66.08. The company has a 50-day simple moving average of $51.46 and a 200-day simple moving average of $56.12.

Archer-Daniels-Midland announced that its board has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase 100,000,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Archer-Daniels-Midland Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Thursday, November 21st. Archer-Daniels-Midland’s dividend payout ratio is currently 57.14%.

Analysts Set New Price Targets

Several research firms have commented on ADM. Citigroup boosted their price target on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Bank of America cut Archer-Daniels-Midland from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $63.00 to $54.00 in a research report on Tuesday, January 14th. 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. Stephens started coverage on Archer-Daniels-Midland in a report on Wednesday, December 11th. They set an “equal weight” rating and a $55.00 price objective on the stock. Finally, BMO Capital Markets dropped their target price on shares of Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating for the company in a report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.89.

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.