Bank of New York Mellon Corp Sells 62,898 Shares of Archer Daniels Midland Company (NYSE:ADM)

Bank of New York Mellon Corp lessened its holdings in Archer Daniels Midland Company (NYSE:ADM - Free Report) by 2.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,029,654 shares of the company's stock after selling 62,898 shares during the period. Bank of New York Mellon Corp owned approximately 0.63% of Archer Daniels Midland worth $145,454,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ADM. Capital Advisors Ltd. LLC increased its holdings in shares of Archer Daniels Midland by 43.4% in the first quarter. Capital Advisors Ltd. LLC now owns 783 shares of the company's stock valued at $38,000 after purchasing an additional 237 shares in the last quarter. Sagespring Wealth Partners LLC increased its holdings in shares of Archer Daniels Midland by 4.1% in the first quarter. Sagespring Wealth Partners LLC now owns 6,023 shares of the company's stock valued at $289,000 after purchasing an additional 239 shares in the last quarter. Stolper Co grew its holdings in Archer Daniels Midland by 0.8% during the 1st quarter. Stolper Co now owns 33,691 shares of the company's stock worth $1,618,000 after acquiring an additional 275 shares during the period. Horizon Investments LLC grew its holdings in Archer Daniels Midland by 3.5% during the 4th quarter. Horizon Investments LLC now owns 8,529 shares of the company's stock worth $431,000 after acquiring an additional 285 shares during the period. Finally, Citizens Financial Group Inc. RI grew its holdings in Archer Daniels Midland by 2.0% during the 4th quarter. Citizens Financial Group Inc. RI now owns 16,190 shares of the company's stock worth $818,000 after acquiring an additional 324 shares during the period. Institutional investors and hedge funds own 78.28% of the company's stock.

Wall Street Analysts Forecast Growth

ADM has been the subject of several research analyst reports. UBS Group raised shares of Archer Daniels Midland from a "neutral" rating to a "buy" rating and boosted their price target for the company from $55.00 to $60.00 in a report on Monday, May 19th. Citigroup reduced their target price on shares of Archer Daniels Midland from $51.00 to $49.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Bank of America lowered shares of Archer Daniels Midland from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $47.00 to $45.00 in a research note on Thursday, May 8th. Finally, Barclays upped their target price on shares of Archer Daniels Midland from $48.00 to $50.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $52.25.

Archer Daniels Midland Stock Up 0.1%

NYSE:ADM traded up $0.08 on Friday, hitting $54.97. 2,190,040 shares of the company's stock were exchanged, compared to its average volume of 3,502,286. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 0.81. The firm has a 50-day moving average price of $50.77 and a 200-day moving average price of $48.96. The company has a market cap of $26.41 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 3.07 and a beta of 0.69. Archer Daniels Midland Company has a 52 week low of $40.98 and a 52 week high of $66.08.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $20.18 billion for the quarter, compared to analysts' expectations of $22.05 billion. Archer Daniels Midland had a net margin of 1.63% and a return on equity of 8.71%. The business's revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.46 earnings per share. As a group, analysts expect that Archer Daniels Midland Company will post 4.31 EPS for the current fiscal year.

Archer Daniels Midland Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 21st were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.71%. Archer Daniels Midland's dividend payout ratio (DPR) is presently 72.86%.

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.