Bank of Nova Scotia Purchases 446,326 Shares of Archer Daniels Midland Company $ADM

Key Points

• Bank of Nova Scotia sharply increased its stake in Archer Daniels Midland, buying 446,326 additional shares in the first quarter and lifting its holdings to 522,258 shares worth about $38 million.
• Other institutional investors also added to ADM positions, and hedge funds and institutions now own 78.28% of the company’s shares.
• ADM recently reported EPS of $0.71, beating estimates, while revenue came in below expectations; the stock also offers a 2.4% dividend yield based on its $0.52 quarterly payout.

Bank of Nova Scotia lifted its position in shares of Archer Daniels Midland Company (NYSE:ADM - Free Report) by 587.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 522,258 shares of the company's stock after buying an additional 446,326 shares during the quarter. Bank of Nova Scotia owned approximately 0.11% of Archer Daniels Midland worth $37,963,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ADM. Sei Investments Co. raised its stake in Archer Daniels Midland by 22.5% in the first quarter. Sei Investments Co. now owns 471,239 shares of the company's stock worth $34,254,000 after buying an additional 86,654 shares in the last quarter. First Trust Advisors LP raised its holdings in Archer Daniels Midland by 5.5% in the first quarter. First Trust Advisors LP now owns 1,031,003 shares of the company's stock worth $74,944,000 after purchasing an additional 54,176 shares in the last quarter. ABN Amro Investment Solutions raised its holdings in Archer Daniels Midland by 2.0% in the first quarter. ABN Amro Investment Solutions now owns 32,849 shares of the company's stock worth $2,388,000 after purchasing an additional 632 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Archer Daniels Midland by 1.5% during the first quarter. PNC Financial Services Group Inc. now owns 158,801 shares of the company's stock valued at $11,543,000 after buying an additional 2,287 shares during the last quarter. Finally, Oslo Pensjonsforsikring AS bought a new stake in shares of Archer Daniels Midland in the 1st quarter valued at about $401,000. Hedge funds and other institutional investors own 78.28% of the company's stock.

Analyst Upgrades and Downgrades

ADM has been the topic of a number of analyst reports. Zacks Research downgraded shares of Archer Daniels Midland from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 22nd. UBS Group raised their target price on shares of Archer Daniels Midland from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, June 15th. Barclays lifted their price target on shares of Archer Daniels Midland from $77.00 to $85.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 6th. Wall Street Zen upgraded Archer Daniels Midland from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Finally, Morgan Stanley raised their price objective on Archer Daniels Midland from $58.00 to $60.00 and gave the stock an "underweight" rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $75.67.

Archer Daniels Midland Stock Performance

Shares of NYSE:ADM opened at $85.98 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.80. Archer Daniels Midland Company has a 1 year low of $52.96 and a 1 year high of $88.46. The firm has a market capitalization of $41.44 billion, a PE ratio of 38.56 and a beta of 0.62. The business's 50 day moving average price is $79.85 and its 200-day moving average price is $73.16.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The company had revenue of $20.49 billion for the quarter, compared to analysts' expectations of $21.35 billion. Archer Daniels Midland had a net margin of 1.34% and a return on equity of 7.37%. The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 EPS. Archer Daniels Midland has set its FY 2026 guidance at 4.150-4.70 EPS. As a group, equities research analysts expect that Archer Daniels Midland Company will post 4.76 earnings per share for the current fiscal year.

Archer Daniels Midland Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a $0.52 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.4%. Archer Daniels Midland's dividend payout ratio is 93.27%.

About Archer Daniels Midland

Archer Daniels Midland Company (ADM) is a global agricultural processor and food-ingredient provider that sources, transports and processes oilseeds, corn, wheat and other agricultural commodities. The company operates large-scale crushing, refining and processing facilities that produce vegetable oils, protein meals, corn sweeteners, starches, ethanol, animal feeds and a wide range of food and industrial ingredients. ADM also develops specialty ingredients and solutions for human and animal nutrition, food and beverage formulation, and industrial applications such as bio-based materials and renewable fuels.

ADM's business combines commodity origination and merchandising with downstream manufacturing and ingredient formulation.

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