Archer Daniels Midland Company $ADM Shares Sold by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System has reduced its stake in Archer Daniels Midland Company by 13.6%, currently owning about 386,768 shares worth $20.4 million.
• Analysts have raised their price targets for ADM, with Morgan Stanley setting a new target of $57 and UBS Group estimating $70, reflecting a generally positive outlook.
• Archer Daniels Midland recently declared a quarterly dividend of $0.51 per share, which corresponds to an annualized yield of 3.2% based on the current stock price.

New York State Teachers Retirement System cut its holdings in shares of Archer Daniels Midland Company (NYSE:ADM - Free Report) by 13.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 386,768 shares of the company's stock after selling 60,951 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Archer Daniels Midland worth $20,414,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ADM. GAMMA Investing LLC grew its position in shares of Archer Daniels Midland by 52.8% during the 1st quarter. GAMMA Investing LLC now owns 11,222 shares of the company's stock valued at $539,000 after acquiring an additional 3,880 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Archer Daniels Midland during the 1st quarter valued at about $333,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Archer Daniels Midland by 0.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 53,303 shares of the company's stock valued at $2,559,000 after acquiring an additional 343 shares during the period. Sagespring Wealth Partners LLC boosted its holdings in Archer Daniels Midland by 4.1% in the 1st quarter. Sagespring Wealth Partners LLC now owns 6,023 shares of the company's stock worth $289,000 after buying an additional 239 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Archer Daniels Midland by 1.3% in the 1st quarter. QRG Capital Management Inc. now owns 46,960 shares of the company's stock worth $2,255,000 after buying an additional 580 shares during the last quarter. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADM has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on Archer Daniels Midland from $47.00 to $57.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. Barclays upgraded Archer Daniels Midland from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $50.00 to $61.00 in a report on Wednesday, August 6th. Wall Street Zen upgraded Archer Daniels Midland from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. JPMorgan Chase & Co. initiated coverage on Archer Daniels Midland in a report on Wednesday, August 20th. They issued a "neutral" rating and a $61.00 price objective on the stock. Finally, UBS Group reiterated a "buy" rating and issued a $70.00 price objective (up from $60.00) on shares of Archer Daniels Midland in a report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $55.50.

Archer Daniels Midland Trading Up 0.6%

ADM opened at $63.29 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.42 and a quick ratio of 0.90. The company's 50 day simple moving average is $61.35 and its two-hundred day simple moving average is $54.27. Archer Daniels Midland Company has a 1-year low of $40.98 and a 1-year high of $64.57. The firm has a market capitalization of $30.41 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 4.96 and a beta of 0.70.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last released its earnings results on Monday, December 2nd. The company reported $1.63 earnings per share for the quarter. Archer Daniels Midland had a net margin of 1.33% and a return on equity of 8.43%. The business had revenue of $21.70 billion for the quarter. Analysts expect that Archer Daniels Midland Company will post 4.31 EPS for the current fiscal year.

Archer Daniels Midland Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, August 20th. Archer Daniels Midland's payout ratio is presently 89.87%.

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.

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