Cornerstone Advisors LLC Reduces Stock Holdings in Archer Daniels Midland Company (NYSE:ADM)

Key Points

• Cornerstone Advisors LLC significantly reduced its stake in Archer Daniels Midland Company by 45.6% in Q1, owning 10,500 shares valued at approximately $504,000.
• ADM reported a quarterly EPS of $0.93, exceeding analysts' expectations of $0.88, despite a 4.9% year-over-year revenue decline to $21.17 billion.
• 78.28% of Archer Daniels Midland's stock is currently owned by institutional investors and hedge funds, indicating strong market interest in the company.

Cornerstone Advisors LLC lessened its position in shares of Archer Daniels Midland Company (NYSE:ADM - Free Report) by 45.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,500 shares of the company's stock after selling 8,800 shares during the period. Cornerstone Advisors LLC's holdings in Archer Daniels Midland were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ADM. Legacy Capital Group California Inc. boosted its position in shares of Archer Daniels Midland by 18.9% during the 1st quarter. Legacy Capital Group California Inc. now owns 17,417 shares of the company's stock valued at $836,000 after acquiring an additional 2,767 shares during the last quarter. Empower Advisory Group LLC grew its stake in Archer Daniels Midland by 19.9% in the 1st quarter. Empower Advisory Group LLC now owns 1,456,637 shares of the company's stock worth $69,933,000 after buying an additional 241,395 shares in the last quarter. Advyzon Investment Management LLC increased its holdings in shares of Archer Daniels Midland by 56.8% in the 1st quarter. Advyzon Investment Management LLC now owns 6,238 shares of the company's stock worth $299,000 after buying an additional 2,260 shares during the last quarter. Silver Coast Investments LLC raised its position in shares of Archer Daniels Midland by 24.5% during the 1st quarter. Silver Coast Investments LLC now owns 6,983 shares of the company's stock valued at $335,000 after buying an additional 1,375 shares in the last quarter. Finally, Probity Advisors Inc. lifted its holdings in shares of Archer Daniels Midland by 14.2% during the 1st quarter. Probity Advisors Inc. now owns 13,631 shares of the company's stock worth $654,000 after acquiring an additional 1,695 shares during the last quarter. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Bank of America cut Archer Daniels Midland from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $47.00 to $45.00 in a research note on Thursday, May 8th. Citigroup reduced their price objective on Archer Daniels Midland from $51.00 to $49.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Barclays upgraded Archer Daniels Midland from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $50.00 to $61.00 in a research report on Wednesday. Finally, UBS Group upgraded shares of Archer Daniels Midland from a "neutral" rating to a "buy" rating and increased their price target for the company from $55.00 to $60.00 in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Archer Daniels Midland has a consensus rating of "Hold" and a consensus price target of $51.86.

Archer Daniels Midland Trading Up 1.9%

ADM stock traded up $1.10 during midday trading on Thursday, hitting $57.83. The company had a trading volume of 3,942,852 shares, compared to its average volume of 3,116,255. The stock has a market cap of $27.79 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 3.19 and a beta of 0.68. Archer Daniels Midland Company has a 52 week low of $40.98 and a 52 week high of $62.61. The company has a current ratio of 1.42, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34. The stock's 50 day moving average price is $53.15 and its 200 day moving average price is $49.54.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.05. The company had revenue of $21.17 billion during the quarter, compared to analyst estimates of $21.56 billion. Archer Daniels Midland had a net margin of 1.33% and a return on equity of 8.43%. The firm's revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 EPS. As a group, equities research analysts expect that Archer Daniels Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer Daniels Midland Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, August 20th. Archer Daniels Midland's payout ratio is currently 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.