PNC Financial Services Group Inc. Sells 8,028 Shares of Archer Daniels Midland Company (NYSE:ADM)

PNC Financial Services Group Inc. reduced its stake in Archer Daniels Midland Company (NYSE:ADM - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 158,143 shares of the company's stock after selling 8,028 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Archer Daniels Midland were worth $7,592,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ADM. Northern Trust Corp grew its position in Archer Daniels Midland by 2.6% during the fourth quarter. Northern Trust Corp now owns 11,035,011 shares of the company's stock worth $557,489,000 after buying an additional 275,792 shares in the last quarter. Invesco Ltd. lifted its position in shares of Archer Daniels Midland by 24.8% during the 4th quarter. Invesco Ltd. now owns 7,145,818 shares of the company's stock valued at $361,007,000 after acquiring an additional 1,420,625 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Archer Daniels Midland by 20.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 4,212,681 shares of the company's stock valued at $212,825,000 after acquiring an additional 727,675 shares during the period. FMR LLC grew its holdings in shares of Archer Daniels Midland by 0.9% during the 4th quarter. FMR LLC now owns 4,017,104 shares of the company's stock worth $202,944,000 after purchasing an additional 37,237 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in Archer Daniels Midland by 18.0% in the fourth quarter. ProShare Advisors LLC now owns 3,410,560 shares of the company's stock valued at $172,301,000 after purchasing an additional 520,615 shares in the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

Archer Daniels Midland Price Performance

Archer Daniels Midland stock traded up $1.10 during mid-day trading on Thursday, reaching $57.83. The company had a trading volume of 3,942,852 shares, compared to its average volume of 3,116,255. The business has a fifty day simple moving average of $53.15 and a 200 day simple moving average of $49.54. The company has a market cap of $27.79 billion, a P/E ratio of 25.48, a P/E/G ratio of 3.19 and a beta of 0.68. Archer Daniels Midland Company has a fifty-two week low of $40.98 and a fifty-two 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.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last announced 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 analysts' expectations of $21.56 billion. Archer Daniels Midland had a return on equity of 8.43% and a net margin of 1.33%. Archer Daniels Midland's revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. On average, equities research analysts predict that Archer Daniels Midland Company will post 4.31 earnings per share for the current year.

Archer Daniels Midland Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be issued a $0.51 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $2.04 annualized dividend and a yield of 3.5%. Archer Daniels Midland's dividend payout ratio is presently 89.87%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADM. Citigroup reduced their price objective on shares of Archer Daniels Midland from $51.00 to $49.00 and set a "neutral" rating on the stock 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 price target for the stock from $47.00 to $45.00 in a research report on Thursday, May 8th. UBS Group upgraded shares of Archer Daniels Midland from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $55.00 to $60.00 in a research report on Monday, May 19th. Finally, Barclays raised Archer Daniels Midland from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $50.00 to $61.00 in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $51.86.

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.