Allspring Global Investments Holdings LLC Sells 72,789 Shares of Archer Daniels Midland Company (NYSE:ADM)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Archer Daniels Midland Company (NYSE:ADM - Free Report) by 63.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 41,412 shares of the company's stock after selling 72,789 shares during the period. Allspring Global Investments Holdings LLC's holdings in Archer Daniels Midland were worth $1,996,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Archer Daniels Midland by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 62,359,269 shares of the company's stock worth $3,150,390,000 after purchasing an additional 706,567 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Archer Daniels Midland by 8.9% in the fourth quarter. Wellington Management Group LLP now owns 21,152,539 shares of the company's stock valued at $1,068,626,000 after acquiring an additional 1,722,428 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Archer Daniels Midland by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 11,715,040 shares of the company's stock worth $590,305,000 after acquiring an additional 247,647 shares in the last quarter. Northern Trust Corp increased its holdings in Archer Daniels Midland by 2.6% during the 4th quarter. Northern Trust Corp now owns 11,035,011 shares of the company's stock valued at $557,489,000 after purchasing an additional 275,792 shares in the last quarter. Finally, Invesco Ltd. raised its position in Archer Daniels Midland by 24.8% in the 4th quarter. Invesco Ltd. now owns 7,145,818 shares of the company's stock valued at $361,007,000 after purchasing an additional 1,420,625 shares during the last quarter. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADM has been the subject of a number of research reports. Bank of America lowered Archer Daniels Midland from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $47.00 to $45.00 in a research note on Thursday, May 8th. Citigroup dropped 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. Barclays increased their price target on shares of Archer Daniels Midland from $48.00 to $50.00 and gave the company an "underweight" rating in a research note on Wednesday, July 2nd. Finally, UBS Group upgraded shares of Archer Daniels Midland from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $55.00 to $60.00 in a research report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $52.25.

Archer Daniels Midland Price Performance

Shares of Archer Daniels Midland stock traded down $0.48 during midday trading on Wednesday, hitting $54.07. 3,184,455 shares of the company traded hands, compared to its average volume of 3,505,691. The stock has a market cap of $25.98 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 3.04 and a beta of 0.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.38. The firm's fifty day moving average price is $50.36 and its 200-day moving average price is $48.86. Archer Daniels Midland Company has a 12 month low of $40.98 and a 12 month high of $66.08.

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

Archer Daniels Midland Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 21st were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend was Wednesday, May 21st. Archer Daniels Midland's payout ratio is 72.86%.

Archer Daniels Midland Company 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.