Nordea Investment Management AB Sells 2,513,113 Shares of Archer Daniels Midland Company $ADM

Key Points

• Nordea Investment Management AB significantly reduced its stake in Archer Daniels Midland Company by 98.2%, selling over 2.5 million shares in the second quarter.
• The company has recently experienced various analyst ratings changes, with UBS Group upgrading its rating to "buy" and raising the price target to $70.00.
• Archer Daniels Midland declared a quarterly dividend of $0.51 per share, resulting in an annualized yield of 3.3% and a payout ratio of 89.87%.

Nordea Investment Management AB lessened its stake in Archer Daniels Midland Company (NYSE:ADM - Free Report) by 98.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,590 shares of the company's stock after selling 2,513,113 shares during the period. Nordea Investment Management AB's holdings in Archer Daniels Midland were worth $2,419,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Archer Daniels Midland by 10.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 508,956 shares of the company's stock worth $26,863,000 after acquiring an additional 49,954 shares during the last quarter. SG Americas Securities LLC bought a new stake in Archer Daniels Midland during the 1st quarter worth about $333,000. Perpetual Ltd bought a new stake in Archer Daniels Midland during the 2nd quarter worth about $227,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Archer Daniels Midland by 18.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 167,515 shares of the company's stock valued at $8,042,000 after purchasing an additional 26,328 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Archer Daniels Midland by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,506,219 shares of the company's stock valued at $72,314,000 after purchasing an additional 5,348 shares during the last quarter. 78.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ADM. JPMorgan Chase & Co. initiated coverage on shares of Archer Daniels Midland in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $61.00 price objective on the stock. Barclays upgraded Archer Daniels Midland from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $50.00 to $61.00 in a research report on Wednesday, August 6th. UBS Group reiterated a "buy" rating and issued a $70.00 price objective (up previously from $60.00) on shares of Archer Daniels Midland in a report on Monday, August 11th. Weiss Ratings reissued a "hold (c)" rating on shares of Archer Daniels Midland in a research note on Wednesday, October 8th. Finally, Morgan Stanley boosted their target price on Archer Daniels Midland from $47.00 to $57.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $55.50.

Archer Daniels Midland Stock Performance

Shares of ADM opened at $61.82 on Thursday. The firm has a market cap of $29.70 billion, a P/E ratio of 27.23, a PEG ratio of 4.87 and a beta of 0.70. Archer Daniels Midland Company has a twelve month low of $40.98 and a twelve month high of $64.57. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 1.42. The firm's 50 day moving average price is $61.55 and its two-hundred day moving average price is $54.60.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last released its quarterly earnings results on Monday, December 2nd. The company reported $1.63 earnings per share (EPS) for the quarter. The firm had revenue of $21.70 billion for the quarter. Archer Daniels Midland had a return on equity of 8.43% and a net margin of 1.33%. On average, analysts forecast that Archer Daniels Midland Company will post 4.31 EPS for the current fiscal year.

Archer Daniels Midland Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $2.04 dividend on an annualized basis and a yield of 3.3%. Archer Daniels Midland's dividend payout ratio is 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.

Want to see what other hedge funds are holding ADM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Archer Daniels Midland Company (NYSE:ADM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.