Virtu Financial LLC Grows Position in Archer Daniels Midland Company (NYSE:ADM)

Key Points

• Virtu Financial LLC has increased its holdings in Archer Daniels Midland Company by 15% during the first quarter, owning shares valued at approximately $1.88 million.
• Archer Daniels Midland recently reported quarterly earnings of $0.93 per share, exceeding estimates by $0.05, although revenues declined by 4.9% year-over-year.
• The company announced a quarterly dividend of $0.51, implying a yield of 3.5%, to be paid on September 10th to investors of record by August 20th.

Virtu Financial LLC grew its holdings in shares of Archer Daniels Midland Company (NYSE:ADM - Free Report) by 15.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,117 shares of the company's stock after buying an additional 5,102 shares during the quarter. Virtu Financial LLC's holdings in Archer Daniels Midland were worth $1,878,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of Archer Daniels Midland by 350.4% in 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 during the period. Voloridge Investment Management LLC grew its stake in Archer Daniels Midland by 56.8% in the 4th quarter. Voloridge Investment Management LLC now owns 2,328,942 shares of the company's stock worth $117,658,000 after buying an additional 843,662 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Archer Daniels Midland by 20.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 4,212,681 shares of the company's stock valued at $212,825,000 after purchasing an additional 727,675 shares in the last quarter. Invesco Ltd. boosted its stake in shares of 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 purchasing an additional 607,767 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Archer Daniels Midland by 7,238.2% in the first quarter. GAMMA Investing LLC now owns 538,768 shares of the company's stock valued at $258,660,000 after acquiring an additional 531,426 shares during the period. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Archer Daniels Midland Trading Up 2.1%

NYSE ADM traded up $1.23 during trading on Wednesday, hitting $59.79. The stock had a trading volume of 4,223,859 shares, compared to its average volume of 3,240,233. The company has a market capitalization of $28.73 billion, a PE ratio of 26.34, a PEG ratio of 3.11 and a beta of 0.68. The company has a quick ratio of 0.90, a current ratio of 1.42 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average price of $53.77 and a 200 day moving average price of $49.69. Archer Daniels Midland Company has a twelve month low of $40.98 and a twelve month high of $62.61.

Archer Daniels Midland (NYSE:ADM - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.05. The firm had revenue of $21.17 billion for the quarter, compared to the consensus estimate of $21.56 billion. Archer Daniels Midland had a return on equity of 8.43% and a net margin of 1.33%. The firm's quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. As a group, equities research analysts forecast that Archer Daniels Midland Company will post 4.31 earnings per share for the current year.

Archer Daniels Midland Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, August 20th. Archer Daniels Midland's dividend payout ratio is 89.87%.

Wall Street Analyst Weigh In

Several brokerages have commented on ADM. Morgan Stanley upped their price objective on shares of Archer Daniels Midland from $47.00 to $57.00 and gave the stock an "equal weight" rating in a report on Tuesday. Citigroup dropped their price objective on shares of Archer Daniels Midland from $51.00 to $49.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Bank of America downgraded shares of 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 research report on Thursday, May 8th. Wall Street Zen upgraded shares of Archer Daniels Midland from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Barclays raised shares of Archer Daniels Midland from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $50.00 to $61.00 in a research note on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Archer Daniels Midland currently has an average rating of "Hold" and a consensus target price of $54.71.

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.