OLD National Bancorp IN Decreases Stock Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

OLD National Bancorp IN trimmed its position in Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 30.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,320 shares of the company's stock after selling 5,953 shares during the period. OLD National Bancorp IN's holdings in Archer-Daniels-Midland were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in ADM. Fairway Wealth LLC acquired a new position in shares of Archer-Daniels-Midland in the 4th quarter valued at $25,000. Stonebridge Financial Group LLC acquired a new stake in Archer-Daniels-Midland during the 4th quarter worth about $28,000. CoreFirst Bank & Trust acquired a new stake in Archer-Daniels-Midland during the 4th quarter worth about $30,000. Asset Planning Inc acquired a new stake in Archer-Daniels-Midland during the 4th quarter worth about $31,000. Finally, OFI Invest Asset Management acquired a new stake in Archer-Daniels-Midland during the 4th quarter worth about $35,000. 78.28% of the stock is owned by institutional investors and hedge funds.

Archer-Daniels-Midland Price Performance

Archer-Daniels-Midland stock traded up $2.32 during midday trading on Friday, reaching $51.98. The company had a trading volume of 7,556,173 shares, compared to its average volume of 3,537,894. The company has a market capitalization of $24.97 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.54 and a beta of 0.67. Archer-Daniels-Midland Company has a 12-month low of $40.98 and a 12-month high of $66.08. The firm's fifty day simple moving average is $47.70 and its 200-day simple moving average is $48.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.39 and a quick ratio of 0.81.

Archer-Daniels-Midland (NYSE:ADM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.70 earnings per share 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 net margin of 2.10% and a return on equity of 10.44%. Archer-Daniels-Midland's quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company posted $1.46 EPS. As a group, equities analysts anticipate that Archer-Daniels-Midland Company will post 4.31 EPS for the current year.

Archer-Daniels-Midland Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Wednesday, May 21st were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date was Wednesday, May 21st. Archer-Daniels-Midland's dividend payout ratio is presently 72.86%.

Analysts Set New Price Targets

Several brokerages have weighed in on ADM. Citigroup cut their price target on Archer-Daniels-Midland from $51.00 to $49.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. UBS Group raised Archer-Daniels-Midland from a "neutral" rating to a "buy" rating and increased their price target for the stock from $55.00 to $60.00 in a research report on Monday, May 19th. Bank of America cut Archer-Daniels-Midland from a "neutral" rating to an "underperform" rating and dropped their target price for the company from $47.00 to $45.00 in a research report on Thursday, May 8th. Finally, Barclays dropped their target price on Archer-Daniels-Midland from $50.00 to $48.00 and set an "underweight" rating on the stock in a research report on Monday, February 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $52.00.

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.