VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Holdings in Archer Daniels Midland Company $ADM

Key Points

• Virginia Retirement Systems acquired a new stake in Archer Daniels Midland Company, purchasing 239,513 shares valued at approximately $12.64 million in the second quarter.
• Archer Daniels Midland announced a quarterly dividend of $0.51 per share, resulting in an annualized yield of 3.2%, with a dividend payout ratio of 89.87%.
• The stock recently opened at $63.29 and has a market capitalization of $30.41 billion, with a 12-month high of $64.57 and a low of $40.98.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Archer Daniels Midland Company (NYSE:ADM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 239,513 shares of the company's stock, valued at approximately $12,641,000.

Several other hedge funds have also bought and sold shares of ADM. Charles Schwab Investment Management Inc. lifted its stake in Archer Daniels Midland by 350.4% in the 1st 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 during the last quarter. Wellington Management Group LLP raised its holdings in Archer Daniels Midland by 17.9% in the 1st quarter. Wellington Management Group LLP now owns 24,944,136 shares of the company's stock valued at $1,197,568,000 after acquiring an additional 3,791,597 shares during the period. Nuveen LLC bought a new position in Archer Daniels Midland in the 1st quarter valued at about $81,306,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Archer Daniels Midland in the 2nd quarter valued at about $39,094,000. Finally, Invesco Ltd. raised its holdings in Archer Daniels Midland by 8.5% in the 1st quarter. Invesco Ltd. now owns 7,753,585 shares of the company's stock valued at $372,250,000 after acquiring an additional 607,767 shares during the period. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Archer Daniels Midland Stock Up 0.6%

Shares of ADM opened at $63.29 on Monday. Archer Daniels Midland Company has a 12 month low of $40.98 and a 12 month high of $64.57. The firm's 50 day moving average is $61.35 and its 200-day moving average is $54.36. The stock has a market capitalization of $30.41 billion, a PE ratio of 27.88, a P/E/G ratio of 5.00 and a beta of 0.70. 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 data on Monday, December 2nd. The company reported $1.63 earnings per share (EPS) for the quarter. The business had revenue of $21.70 billion for the quarter. Archer Daniels Midland had a net margin of 1.33% and a return on equity of 8.43%. Equities research analysts forecast that Archer Daniels Midland Company will post 4.31 EPS for the current year.

Archer Daniels Midland Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Wednesday, August 20th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, August 20th. Archer Daniels Midland's dividend payout ratio (DPR) is 89.87%.

Analyst Ratings Changes

Several research firms have weighed in on ADM. Weiss Ratings reissued a "hold (c)" rating on shares of Archer Daniels Midland in a report on Wednesday, October 8th. Wall Street Zen raised shares of Archer Daniels Midland from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Morgan Stanley increased their price target on shares of Archer Daniels Midland from $47.00 to $57.00 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. Barclays raised shares of Archer Daniels Midland from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $50.00 to $61.00 in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. started coverage on shares of Archer Daniels Midland in a report on Wednesday, August 20th. They set a "neutral" rating and a $61.00 target price on the stock. One 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. According to data from MarketBeat.com, Archer Daniels Midland presently has a consensus rating of "Hold" and an average price target of $55.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.