Truist Financial Corp Cuts Holdings in Archer Daniels Midland Company $ADM

Key Points

• Truist Financial Corp has reduced its holdings in Archer Daniels Midland Company (ADM) by 9.9%, selling 5,595 shares during the second quarter, resulting in a total of 50,985 shares valued at approximately $2.69 million.
• Several analysts have upgraded the rating for ADM, with Barclays raising the price target to $61, indicating an improvement in market perception of the company's performance.
• ADM reported a quarterly earnings per share of $0.93, surpassing expectations, despite a 4.9% decline in revenue year-over-year.

Truist Financial Corp reduced its position in Archer Daniels Midland Company (NYSE:ADM - Free Report) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,985 shares of the company's stock after selling 5,595 shares during the quarter. Truist Financial Corp's holdings in Archer Daniels Midland were worth $2,691,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. S.A. Mason LLC purchased a new position in Archer Daniels Midland in the first quarter worth $25,000. Headlands Technologies LLC acquired a new stake in shares of Archer Daniels Midland during the first quarter worth $25,000. ORG Partners LLC lifted its stake in shares of Archer Daniels Midland by 297.2% during the first quarter. ORG Partners LLC now owns 699 shares of the company's stock worth $34,000 after buying an additional 523 shares during the period. NBC Securities Inc. acquired a new stake in shares of Archer Daniels Midland during the first quarter worth $37,000. Finally, Capital Advisors Ltd. LLC lifted its stake in shares of Archer Daniels Midland by 43.4% during the first quarter. Capital Advisors Ltd. LLC now owns 783 shares of the company's stock worth $38,000 after buying an additional 237 shares during the period. 78.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ADM shares. Barclays upgraded shares of Archer Daniels Midland from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $50.00 to $61.00 in a research note on Wednesday, August 6th. Weiss Ratings restated a "hold (c)" rating on shares of Archer Daniels Midland in a research report on Wednesday. Morgan Stanley boosted their target price on shares of Archer Daniels Midland from $47.00 to $57.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. started coverage on shares of Archer Daniels Midland in a research report on Wednesday, August 20th. They set a "neutral" rating and a $61.00 target price for the company. Finally, Wall Street Zen upgraded shares of Archer Daniels Midland from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Archer Daniels Midland currently has an average rating of "Hold" and a consensus target price of $55.50.

Archer Daniels Midland Stock Down 1.5%

ADM stock opened at $61.31 on Friday. The stock has a market capitalization of $29.46 billion, a P/E ratio of 27.01, a P/E/G ratio of 3.32 and a beta of 0.70. The firm has a 50-day simple moving average of $60.64 and a 200-day simple moving average of $53.66. 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.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.05. The business had revenue of $21.17 billion during the quarter, compared to analysts' expectations of $21.56 billion. Archer Daniels Midland had a net margin of 1.33% and a return on equity of 8.43%. The company's quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. Archer Daniels Midland has set its FY 2025 guidance at 4.000-4.000 EPS. Equities analysts forecast that Archer Daniels Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer Daniels Midland Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.3%. Archer Daniels Midland's payout ratio is currently 89.87%.

About Archer Daniels Midland

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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