Summit Securities Group LLC Takes Position in Archer-Daniels-Midland Company (NYSE:ADM)

Summit Securities Group LLC bought a new stake in Archer-Daniels-Midland Company (NYSE:ADM) during the fourth quarter, Holdings Channel reports. The firm bought 1,200 shares of the company’s stock, valued at approximately $61,000.

Other institutional investors have also recently bought and sold shares of the company. Allianz SE bought a new position in shares of Archer-Daniels-Midland in the fourth quarter worth about $1,565,000. Allstate Corp acquired a new stake in Archer-Daniels-Midland in the 4th quarter valued at approximately $719,000. Pictet Asset Management Holding SA increased its position in Archer-Daniels-Midland by 2.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 222,932 shares of the company’s stock worth $11,263,000 after buying an additional 5,399 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Archer-Daniels-Midland by 18.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 848,364 shares of the company’s stock worth $42,859,000 after buying an additional 129,525 shares during the last quarter. Finally, Boussard & Gavaudan Investment Management LLP acquired a new stake in shares of Archer-Daniels-Midland in the fourth quarter worth $2,237,000. Institutional investors own 78.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADM. Morgan Stanley cut their target price on shares of Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Barclays cut 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 report on Monday, February 24th. BMO Capital Markets lowered their price target on Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Bank of America reduced their price objective on Archer-Daniels-Midland from $54.00 to $48.00 and set an “underperform” rating for the company in a research report on Tuesday, February 11th. Finally, Citigroup boosted their price objective on Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $53.63.

Archer-Daniels-Midland Trading Down 0.8 %

ADM stock opened at $47.87 on Monday. The company has a current ratio of 1.39, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34. The firm has a market cap of $22.97 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.54 and a beta of 0.67. Archer-Daniels-Midland Company has a 1-year low of $44.92 and a 1-year high of $66.08. The business’s 50 day moving average is $47.89 and its 200-day moving average is $52.14.

Archer-Daniels-Midland (NYSE:ADM) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.07. Archer-Daniels-Midland had a return on equity of 10.44% and a net margin of 2.10%. The firm had revenue of $21.50 billion during the quarter, compared to analyst estimates of $22.77 billion. During the same period in the prior year, the company posted $1.36 earnings per share. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. Equities analysts anticipate that Archer-Daniels-Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer-Daniels-Midland Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were given a $0.51 dividend. The ex-dividend date was Tuesday, February 18th. This is a positive change from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a yield of 4.26%. Archer-Daniels-Midland’s payout ratio is 56.51%.

Archer-Daniels-Midland declared that its board has initiated a share repurchase plan on Wednesday, December 11th that permits the company to repurchase 100,000,000 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.