Sumitomo Mitsui DS Asset Management Company Ltd Increases Holdings in Archer Daniels Midland Company (NYSE:ADM)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Archer Daniels Midland Company (NYSE:ADM - Free Report) by 54.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 81,953 shares of the company's stock after purchasing an additional 28,896 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Archer Daniels Midland were worth $3,935,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ADM. Norges Bank purchased a new position in shares of Archer Daniels Midland during the 4th quarter valued at $333,521,000. Wellington Management Group LLP lifted its holdings in Archer Daniels Midland by 8.9% during the fourth quarter. Wellington Management Group LLP now owns 21,152,539 shares of the company's stock valued at $1,068,626,000 after purchasing an additional 1,722,428 shares during the last quarter. Invesco Ltd. lifted its holdings in Archer Daniels Midland by 24.8% during the fourth quarter. Invesco Ltd. now owns 7,145,818 shares of the company's stock valued at $361,007,000 after purchasing an additional 1,420,625 shares during the last quarter. Amundi boosted its position in Archer Daniels Midland by 56.7% during the fourth quarter. Amundi now owns 2,473,393 shares of the company's stock worth $123,340,000 after purchasing an additional 894,562 shares during the period. Finally, Voloridge Investment Management LLC increased its stake in shares of 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 worth $117,658,000 after purchasing an additional 843,662 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group raised shares of Archer Daniels Midland from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $55.00 to $60.00 in a report on Monday, May 19th. Bank of America lowered Archer Daniels Midland from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $47.00 to $45.00 in a report on Thursday, May 8th. Barclays boosted their price objective on Archer Daniels Midland from $48.00 to $50.00 and gave the company an "underweight" rating in a research note on Wednesday. Finally, Citigroup cut their target price on Archer Daniels Midland from $51.00 to $49.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $52.25.

Archer Daniels Midland Price Performance

NYSE:ADM traded down $1.01 during trading hours on Friday, hitting $54.90. 2,259,865 shares of the company's stock traded hands, compared to its average volume of 3,520,330. The firm has a market cap of $26.37 billion, a P/E ratio of 19.61, a P/E/G ratio of 3.11 and a beta of 0.69. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The business's fifty day simple moving average is $49.96 and its two-hundred day simple moving average is $48.78. Archer Daniels Midland Company has a 52 week low of $40.98 and a 52 week high of $66.08.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The firm had revenue of $20.18 billion during the quarter, compared to the consensus estimate of $22.05 billion. Archer Daniels Midland had a return on equity of 8.71% and a net margin of 1.63%. The company's revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.46 EPS. On average, research 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 21st were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Wednesday, May 21st. Archer Daniels Midland's dividend payout ratio (DPR) is currently 72.86%.

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.