Horizon Kinetics Asset Management LLC Reduces Stock Position in Archer-Daniels-Midland Company (NYSE:ADM)

Horizon Kinetics Asset Management LLC cut its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 16.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 545,719 shares of the company’s stock after selling 108,092 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Archer-Daniels-Midland were worth $27,570,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Cibc World Markets Corp increased its holdings in Archer-Daniels-Midland by 14.4% in the fourth quarter. Cibc World Markets Corp now owns 187,582 shares of the company’s stock valued at $9,477,000 after buying an additional 23,679 shares in the last quarter. SlateStone Wealth LLC increased its stake in shares of Archer-Daniels-Midland by 3.2% during the 4th quarter. SlateStone Wealth LLC now owns 12,875 shares of the company’s stock worth $650,000 after purchasing an additional 400 shares in the last quarter. GWN Securities Inc. purchased a new position in shares of Archer-Daniels-Midland during the 4th quarter worth approximately $238,000. Atala Financial Inc purchased a new position in shares of Archer-Daniels-Midland during the 4th quarter worth approximately $332,000. Finally, Madison Investment Advisors LLC purchased a new position in shares of Archer-Daniels-Midland during the 4th quarter worth approximately $8,230,000. 78.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Barclays dropped their price objective on shares of Archer-Daniels-Midland from $50.00 to $48.00 and set an “underweight” rating for the company in a research note on Monday, February 24th. Stephens dropped their price objective on shares of Archer-Daniels-Midland from $55.00 to $52.00 in a research note on Tuesday, February 4th. Citigroup raised their price objective on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Bank of America decreased their target price on shares of Archer-Daniels-Midland from $54.00 to $48.00 and set an “underperform” rating on the stock in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $53.63.

Archer-Daniels-Midland Stock Up 0.0 %

Shares of NYSE ADM opened at $47.26 on Monday. Archer-Daniels-Midland Company has a 1 year low of $44.92 and a 1 year high of $66.08. The firm’s 50 day moving average price is $48.62 and its 200 day moving average price is $53.07. The firm has a market cap of $22.67 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 1.54 and a beta of 0.67. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.39.

Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. The company had revenue of $21.50 billion for the quarter, compared to analyst estimates of $22.77 billion. Archer-Daniels-Midland had a net margin of 2.10% and a return on equity of 10.44%. Archer-Daniels-Midland’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the business earned $1.36 EPS. As a group, sell-side analysts anticipate that Archer-Daniels-Midland Company will post 4.31 earnings per share for the current year.

Archer-Daniels-Midland Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. Archer-Daniels-Midland’s dividend payout ratio (DPR) is 56.51%.

Archer-Daniels-Midland declared that its Board of Directors has authorized a share buyback plan on Wednesday, December 11th that authorizes the company to repurchase 100,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.