Prudential PLC Sells 11,836 Shares of Archer Daniels Midland Company (NYSE:ADM)

Key Points

• Prudential PLC significantly reduced its holdings in Archer Daniels Midland Company, selling 11,836 shares and now owning 6,095 shares, valued at approximately $293,000.
• Archer Daniels Midland reported $0.93 earnings per share for the most recent quarter, exceeding estimates of $0.88, despite a revenue decline of 4.9% year-over-year.
• The company plans to distribute a quarterly dividend of $0.51 on September 10th, representing an annual yield of 3.4% with a payout ratio of 89.87%.

Prudential PLC reduced its holdings in Archer Daniels Midland Company (NYSE:ADM - Free Report) by 66.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,095 shares of the company's stock after selling 11,836 shares during the quarter. Prudential PLC's holdings in Archer Daniels Midland were worth $293,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Archer Daniels Midland in the fourth quarter worth approximately $1,914,000. Handelsbanken Fonder AB bought a new stake in Archer Daniels Midland in the first quarter worth approximately $1,183,000. Bell Bank increased its holdings in shares of Archer Daniels Midland by 11.0% during the first quarter. Bell Bank now owns 167,536 shares of the company's stock valued at $8,043,000 after acquiring an additional 16,558 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Archer Daniels Midland during the first quarter valued at approximately $333,000. Finally, Sarasin & Partners LLP bought a new stake in shares of Archer Daniels Midland during the first quarter valued at approximately $1,200,000. 78.28% of the stock is currently owned by institutional investors.

Archer Daniels Midland Trading Up 0.6%

Shares of Archer Daniels Midland stock opened at $59.70 on Friday. The stock has a fifty day simple moving average of $54.52 and a 200 day simple moving average of $49.86. Archer Daniels Midland Company has a 12-month low of $40.98 and a 12-month high of $62.61. The company has a market capitalization of $28.68 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 3.18 and a beta of 0.68. The company has a current ratio of 1.42, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.93 earnings per share (EPS) for the quarter, topping 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 business had revenue of $21.17 billion during the quarter, compared to the consensus estimate of $21.56 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. Archer Daniels Midland's revenue was down 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Archer Daniels Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer Daniels Midland Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be given a $0.51 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $2.04 annualized dividend and a yield of 3.4%. Archer Daniels Midland's payout ratio is currently 89.87%.

Wall Street Analysts Forecast Growth

ADM has been the subject of several recent research reports. Morgan Stanley boosted their price objective on Archer Daniels Midland from $47.00 to $57.00 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. Wall Street Zen upgraded Archer Daniels Midland from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. UBS Group restated a "buy" rating and set a $70.00 price objective (up previously 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 boosted their price objective for the company from $50.00 to $61.00 in a report on Wednesday, August 6th. Finally, Bank of America downgraded Archer Daniels Midland from a "neutral" rating to an "underperform" rating and decreased their price objective for the company from $47.00 to $45.00 in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Archer Daniels Midland has a consensus rating of "Hold" and an average target price of $54.71.

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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