Archer Daniels Midland Company $ADM Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Archer Daniels Midland Company (ADM) by 20.1%, selling 27,734 shares during the 1st quarter, now holding approximately 109,940 shares valued at $5.28 million.
• Archer Daniels Midland's quarterly earnings showed a slight increase with $0.93 earnings per share, surpassing analysts' estimates, despite a 4.9% revenue decline year-over-year.
• The company announced a quarterly dividend of $0.51 per share, with a dividend yield of 3.3%, highlighting a high payout ratio of 89.87%.

Corebridge Financial Inc. decreased its stake in Archer Daniels Midland Company (NYSE:ADM - Free Report) by 20.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 109,940 shares of the company's stock after selling 27,734 shares during the quarter. Corebridge Financial Inc.'s holdings in Archer Daniels Midland were worth $5,278,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADM. S.A. Mason LLC purchased a new position in Archer Daniels Midland during the 1st quarter valued at $25,000. Headlands Technologies LLC purchased a new position in Archer Daniels Midland during the 1st quarter valued at $25,000. ORG Partners LLC boosted its holdings in Archer Daniels Midland by 297.2% during the 1st quarter. ORG Partners LLC now owns 699 shares of the company's stock valued at $34,000 after acquiring an additional 523 shares during the period. NBC Securities Inc. purchased a new position in Archer Daniels Midland during the 1st quarter valued at $37,000. Finally, Capital Advisors Ltd. LLC boosted its holdings in Archer Daniels Midland by 43.4% during the 1st quarter. Capital Advisors Ltd. LLC now owns 783 shares of the company's stock valued at $38,000 after acquiring an additional 237 shares during the period. Hedge funds and other institutional investors own 78.28% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADM. Morgan Stanley upped their target price on Archer Daniels Midland from $47.00 to $57.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. UBS Group reiterated a "buy" rating and issued a $70.00 target price (up from $60.00) on shares of Archer Daniels Midland in a report on Monday, August 11th. Barclays upgraded Archer Daniels Midland from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $50.00 to $61.00 in a report on Wednesday, August 6th. Bank of America cut Archer Daniels Midland from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $47.00 to $45.00 in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. began coverage on Archer Daniels Midland in a report on Wednesday, August 20th. They issued a "neutral" rating and a $61.00 target price for the company. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Archer Daniels Midland presently has a consensus rating of "Hold" and an average target price of $55.50.

Archer Daniels Midland Stock Down 0.5%

NYSE:ADM traded down $0.34 during mid-day trading on Wednesday, hitting $61.71. 3,028,470 shares of the company's stock traded hands, compared to its average volume of 3,958,082. The company has a fifty day moving average of $56.95 and a 200 day moving average of $51.08. Archer Daniels Midland Company has a twelve month low of $40.98 and a twelve month high of $64.38. The company has a market capitalization of $29.65 billion, a P/E ratio of 27.19, a P/E/G ratio of 3.34 and a beta of 0.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 1.42.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.05. Archer Daniels Midland had a return on equity of 8.43% and a net margin of 1.33%.The company had revenue of $21.17 billion for the quarter, compared to analyst estimates of $21.56 billion. During the same period in the prior year, the company posted $1.03 EPS. The firm's quarterly revenue was down 4.9% compared to the same quarter last year. Archer Daniels Midland has set its FY 2025 guidance at 4.000-4.000 EPS. On average, analysts forecast that Archer Daniels Midland Company will post 4.31 EPS for the current year.

Archer Daniels Midland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 20th. Archer Daniels Midland's dividend payout ratio is currently 89.87%.

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.