Quarry LP Sells 26,789 Shares of Archer Daniels Midland Company $ADM

Key Points

• Quarry LP has reduced its stake in Archer Daniels Midland Company (ADM) by 45.2% in the first quarter, now owning 32,536 shares worth approximately $1.56 million.
• During the same period, Charles Schwab Investment Management significantly increased its holdings in ADM by 350.4%, becoming one of the largest shareholders with over 17 million shares.
• Archer Daniels Midland announced a quarterly dividend of $0.51 per share, which will be paid on September 10th, representing an annualized yield of 3.3% and a payout ratio of 89.87%.

Quarry LP trimmed its stake in Archer Daniels Midland Company (NYSE:ADM - Free Report) by 45.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,536 shares of the company's stock after selling 26,789 shares during the quarter. Quarry LP's holdings in Archer Daniels Midland were worth $1,562,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADM. Charles Schwab Investment Management Inc. lifted its holdings in shares of Archer Daniels Midland by 350.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 17,455,324 shares of the company's stock valued at $838,030,000 after purchasing an additional 13,579,379 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Archer Daniels Midland by 17.9% during the first quarter. Wellington Management Group LLP now owns 24,944,136 shares of the company's stock valued at $1,197,568,000 after purchasing an additional 3,791,597 shares in the last quarter. Nuveen LLC bought a new position in Archer Daniels Midland in the first quarter valued at about $81,306,000. Voloridge Investment Management LLC lifted its holdings in Archer Daniels Midland by 56.8% in the fourth quarter. Voloridge Investment Management LLC now owns 2,328,942 shares of the company's stock valued at $117,658,000 after acquiring an additional 843,662 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Archer Daniels Midland by 20.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 4,212,681 shares of the company's stock valued at $212,825,000 after acquiring an additional 727,675 shares during the period. 78.28% of the stock is owned by institutional investors.

Archer Daniels Midland Stock Down 0.1%

NYSE ADM opened at $62.63 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.42 and a debt-to-equity ratio of 0.34. Archer Daniels Midland Company has a 52 week low of $40.98 and a 52 week high of $64.38. The stock's 50-day moving average price is $56.57 and its 200-day moving average price is $50.86. The company has a market capitalization of $30.09 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 3.34 and a beta of 0.68.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last released its 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 firm had revenue of $21.17 billion during the quarter, compared to analysts' expectations of $21.56 billion. During the same quarter last year, the business posted $1.03 earnings per share. The firm's revenue was down 4.9% on a year-over-year basis. Archer Daniels Midland has set its FY 2025 guidance at 4.000-4.000 EPS. On average, equities research analysts predict that Archer Daniels Midland Company will post 4.31 earnings per share for the current year.

Archer Daniels Midland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th will be given a dividend of $0.51 per share. The ex-dividend date is Wednesday, August 20th. This represents a $2.04 annualized dividend and a dividend yield of 3.3%. Archer Daniels Midland's dividend payout ratio (DPR) is currently 89.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. assumed coverage on Archer Daniels Midland in a report on Wednesday, August 20th. They issued a "neutral" rating and a $61.00 target price on the stock. Bank of America downgraded Archer Daniels Midland from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $47.00 to $45.00 in a report on Thursday, May 8th. Wall Street Zen raised Archer Daniels Midland from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Morgan Stanley raised their price objective on Archer Daniels Midland from $47.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. Finally, Barclays raised Archer Daniels Midland from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $50.00 to $61.00 in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $55.50.

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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