Archer Daniels Midland Company (NYSE:ADM) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in Archer Daniels Midland Company (NYSE:ADM - Free Report) by 63.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Jones Financial Companies Lllp grew its position in Archer Daniels Midland by 72.6% in the fourth quarter. Jones Financial Companies Lllp now owns 12,037 shares of the company's stock worth $608,000 after acquiring an additional 5,065 shares in the last quarter. M&T Bank Corp raised its stake in shares of Archer Daniels Midland by 8.1% in the fourth quarter. M&T Bank Corp now owns 39,825 shares of the company's stock worth $2,012,000 after acquiring an additional 2,980 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Archer Daniels Midland in the fourth quarter worth about $8,677,000. Candriam S.C.A. raised its stake in shares of Archer Daniels Midland by 41.1% during the fourth quarter. Candriam S.C.A. now owns 46,210 shares of the company's stock worth $2,335,000 after buying an additional 13,466 shares during the last quarter. Finally, Amundi grew its holdings in Archer Daniels Midland by 56.7% during the fourth quarter. Amundi now owns 2,473,393 shares of the company's stock valued at $123,340,000 after purchasing an additional 894,562 shares during the period. 78.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays upped their price target on shares of Archer Daniels Midland from $48.00 to $50.00 and gave the company an "underweight" rating in a report on Wednesday, July 2nd. Bank of America downgraded shares of Archer Daniels Midland from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $47.00 to $45.00 in a research note on Thursday, May 8th. Citigroup cut their target price on shares of 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. Finally, UBS Group upgraded shares of Archer Daniels Midland from a "neutral" rating to a "buy" rating and raised their price target for the stock from $55.00 to $60.00 in a report on Monday, May 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $52.25.

Archer Daniels Midland Price Performance

NYSE:ADM traded up $0.08 during trading hours on Friday, reaching $54.97. The stock had a trading volume of 2,190,040 shares, compared to its average volume of 3,496,986. The stock has a market capitalization of $26.41 billion, a PE ratio of 19.63, a PEG ratio of 3.01 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 company has a 50 day moving average price of $50.63 and a two-hundred day moving average price of $48.93. 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 issued its earnings results on Tuesday, May 6th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $20.18 billion during the quarter, compared to analysts' expectations of $22.05 billion. Archer Daniels Midland had a return on equity of 8.71% and a net margin of 1.63%. The business's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 EPS. As a group, sell-side analysts anticipate that Archer Daniels Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer Daniels Midland Dividend Announcement

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