Procyon Advisors LLC Invests $725,000 in Archer-Daniels-Midland Company (NYSE:ADM)

Procyon Advisors LLC acquired a new stake in Archer-Daniels-Midland Company (NYSE:ADM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,108 shares of the company's stock, valued at approximately $725,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Curat Global LLC bought a new stake in shares of Archer-Daniels-Midland in the 1st quarter valued at about $130,000. Vest Financial LLC grew its holdings in Archer-Daniels-Midland by 37.1% during the first quarter. Vest Financial LLC now owns 1,376,946 shares of the company's stock valued at $66,107,000 after purchasing an additional 372,368 shares during the period. Naples Global Advisors LLC increased its stake in Archer-Daniels-Midland by 8.5% in the first quarter. Naples Global Advisors LLC now owns 19,631 shares of the company's stock valued at $942,000 after purchasing an additional 1,541 shares in the last quarter. Whipplewood Advisors LLC raised its holdings in Archer-Daniels-Midland by 14,683.3% in the first quarter. Whipplewood Advisors LLC now owns 8,870 shares of the company's stock worth $426,000 after purchasing an additional 8,810 shares during the period. Finally, Merit Financial Group LLC increased its position in shares of Archer-Daniels-Midland by 52.2% in the 1st quarter. Merit Financial Group LLC now owns 8,134 shares of the company's stock valued at $391,000 after buying an additional 2,790 shares in the last quarter. Institutional investors and hedge funds own 78.28% of the company's stock.

Analysts Set New Price Targets

ADM has been the topic of several recent analyst reports. Bank of America lowered Archer-Daniels-Midland from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $47.00 to $45.00 in a report on Thursday, May 8th. Barclays decreased their price objective on Archer-Daniels-Midland from $50.00 to $48.00 and set an "underweight" rating for the company in a research report on Monday, February 24th. Morgan Stanley lowered their target price on Archer-Daniels-Midland from $52.00 to $47.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. Citigroup cut their price target on shares of Archer-Daniels-Midland from $51.00 to $49.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, UBS Group raised shares of Archer-Daniels-Midland from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $55.00 to $60.00 in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $52.00.

Archer-Daniels-Midland Price Performance

Shares of ADM opened at $47.46 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.39 and a debt-to-equity ratio of 0.34. Archer-Daniels-Midland Company has a twelve month low of $40.98 and a twelve month high of $66.08. The stock has a market capitalization of $22.80 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.54 and a beta of 0.67. The company has a 50 day moving average of $47.44 and a 200-day moving average of $48.81.

Archer-Daniels-Midland (NYSE:ADM - Get Free Report) last released its 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. Archer-Daniels-Midland had a net margin of 2.10% and a return on equity of 10.44%. The business had revenue of $20.18 billion during the quarter, compared to the consensus estimate of $22.05 billion. During the same quarter last year, the firm earned $1.46 earnings per share. The firm's revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities research analysts forecast that Archer-Daniels-Midland Company will post 4.31 EPS for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Wednesday, May 21st will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.04 annualized dividend and a yield of 4.30%. 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.

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