State of Alaska Department of Revenue Cuts Stake in Archer-Daniels-Midland Company (NYSE:ADM)

State of Alaska Department of Revenue lessened its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 14.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 54,513 shares of the company’s stock after selling 9,570 shares during the quarter. State of Alaska Department of Revenue’s holdings in Archer-Daniels-Midland were worth $2,753,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Archer-Daniels-Midland in the 3rd quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Archer-Daniels-Midland in the 3rd quarter valued at approximately $26,000. Peterson Financial Group Inc. purchased a new stake in shares of Archer-Daniels-Midland during the 3rd quarter worth $28,000. Raleigh Capital Management Inc. increased its holdings in Archer-Daniels-Midland by 179.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 556 shares of the company’s stock valued at $28,000 after buying an additional 357 shares during the last quarter. Finally, ST Germain D J Co. Inc. lifted 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 buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Price Performance

Shares of NYSE ADM opened at $45.74 on Monday. The stock has a fifty day moving average price of $50.72 and a 200 day moving average price of $55.38. Archer-Daniels-Midland Company has a 1-year low of $45.01 and a 1-year high of $66.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.44 and a quick ratio of 0.84. The company has a market cap of $21.89 billion, a PE ratio of 12.67 and a beta of 0.72.

Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. The business 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%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 earnings per share. Sell-side analysts forecast that Archer-Daniels-Midland Company will post 4.53 EPS for the current year.

Archer-Daniels-Midland Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date is Tuesday, February 18th. This is an increase from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. Archer-Daniels-Midland’s dividend payout ratio (DPR) is currently 55.40%.

Archer-Daniels-Midland announced that its board has approved a share buyback program on Wednesday, December 11th that permits the company to buyback 100,000,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ADM has been the topic of several recent analyst reports. Bank of America lowered shares of Archer-Daniels-Midland from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $63.00 to $54.00 in a research note on Tuesday, January 14th. Morgan Stanley cut their price target on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. BMO Capital Markets dropped their price objective on Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Citigroup upped their target price 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. Finally, Barclays reduced their price objective on Archer-Daniels-Midland from $56.00 to $50.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $56.33.

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.