New York State Common Retirement Fund Sells 46,100 Shares of Archer Daniels Midland Company (NYSE:ADM)

New York State Common Retirement Fund reduced its stake in shares of Archer Daniels Midland Company (NYSE:ADM - Free Report) by 18.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,099 shares of the company's stock after selling 46,100 shares during the period. New York State Common Retirement Fund's holdings in Archer Daniels Midland were worth $10,039,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ADM. Ballentine Partners LLC increased its stake in Archer Daniels Midland by 17.2% during the 1st quarter. Ballentine Partners LLC now owns 6,740 shares of the company's stock valued at $324,000 after buying an additional 987 shares during the period. Applied Capital LLC FL purchased a new position in shares of Archer Daniels Midland in the first quarter worth approximately $648,000. Cerity Partners LLC boosted its holdings in shares of Archer Daniels Midland by 447.2% during the first quarter. Cerity Partners LLC now owns 260,962 shares of the company's stock worth $12,529,000 after purchasing an additional 213,269 shares during the period. Alps Advisors Inc. boosted its holdings in shares of Archer Daniels Midland by 10.8% during the first quarter. Alps Advisors Inc. now owns 512,035 shares of the company's stock worth $24,583,000 after purchasing an additional 49,715 shares during the period. Finally, Allworth Financial LP lifted its stake in Archer Daniels Midland by 116.1% in the first quarter. Allworth Financial LP now owns 5,723 shares of the company's stock valued at $279,000 after acquiring an additional 3,075 shares during the last quarter. 78.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ADM. UBS Group raised shares of Archer Daniels Midland from a "neutral" rating to a "buy" rating and boosted their price target for the company from $55.00 to $60.00 in a report on Monday, May 19th. Barclays upped their price target on Archer Daniels Midland from $48.00 to $50.00 and gave the company an "underweight" rating in a research note on Wednesday, July 2nd. 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 research note on Thursday, May 8th. Finally, Citigroup cut their price objective on Archer Daniels Midland from $51.00 to $49.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $52.25.

Archer Daniels Midland Price Performance

Archer Daniels Midland stock traded up $0.84 during midday trading on Friday, reaching $54.38. The company's stock had a trading volume of 2,982,850 shares, compared to its average volume of 3,521,039. Archer Daniels Midland Company has a 52 week low of $40.98 and a 52 week high of $64.39. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $51.38 and a 200-day moving average price of $49.07. The stock has a market cap of $26.13 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 3.04 and a beta of 0.69.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The firm had revenue of $20.18 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the firm posted $1.46 earnings per share. On average, sell-side analysts predict that Archer Daniels Midland Company will post 4.31 EPS for the current year.

Archer Daniels Midland Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 21st were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Wednesday, May 21st. Archer Daniels Midland's dividend payout ratio (DPR) is presently 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.