Summit Global Investments Reduces Stock Position in Archer-Daniels-Midland Company (NYSE:ADM)

Summit Global Investments reduced its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 85.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,571 shares of the company's stock after selling 188,805 shares during the quarter. Summit Global Investments' holdings in Archer-Daniels-Midland were worth $2,280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Orion Capital Management LLC bought a new position in shares of Archer-Daniels-Midland in the 3rd quarter worth approximately $28,000. Tompkins Financial Corp bought a new position in Archer-Daniels-Midland in the third quarter worth $28,000. Legacy Financial Group LLC purchased a new position in Archer-Daniels-Midland during the third quarter valued at $30,000. Operose Advisors LLC bought a new stake in shares of Archer-Daniels-Midland during the 3rd quarter valued at $30,000. Finally, Strengthening Families & Communities LLC grew its position in shares of Archer-Daniels-Midland by 37.3% in the 3rd quarter. Strengthening Families & Communities LLC now owns 641 shares of the company's stock worth $48,000 after buying an additional 174 shares during the period. Hedge funds and other institutional investors own 78.28% of the company's stock.

Archer-Daniels-Midland Trading Down 0.3 %

NYSE ADM traded down $0.16 during trading on Friday, hitting $59.19. The stock had a trading volume of 3,273,847 shares, compared to its average volume of 5,830,189. Archer-Daniels-Midland Company has a one year low of $50.72 and a one year high of $87.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.95 and a current ratio of 1.47. The stock has a market capitalization of $29.27 billion, a price-to-earnings ratio of 10.38 and a beta of 0.78. The stock has a 50 day simple moving average of $59.52 and a 200 day simple moving average of $64.85.

Archer-Daniels-Midland (NYSE:ADM - Get Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.11. The business had revenue of $21.85 billion for the quarter, compared to the consensus estimate of $22.26 billion. Archer-Daniels-Midland had a net margin of 3.32% and a return on equity of 13.87%. The company's revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 EPS. Sell-side analysts predict that Archer-Daniels-Midland Company will post 5.48 earnings per share for the current year.

Archer-Daniels-Midland Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Wednesday, May 15th. Archer-Daniels-Midland's dividend payout ratio is 35.09%.

Archer-Daniels-Midland declared that its Board of Directors has approved a stock repurchase plan on Tuesday, March 12th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

ADM has been the subject of a number of recent research reports. Roth Mkm cut shares of Archer-Daniels-Midland from a "buy" rating to a "neutral" rating and lowered their price target for the company from $98.00 to $66.00 in a research report on Monday, January 22nd. Argus downgraded shares of Archer-Daniels-Midland from a "buy" rating to a "hold" rating in a report on Tuesday, January 23rd. StockNews.com lowered Archer-Daniels-Midland from a "buy" rating to a "hold" rating in a report on Monday, January 22nd. TheStreet cut shares of Archer-Daniels-Midland from a "b-" rating to a "c+" rating in a research note on Monday, February 12th. Finally, Stifel Nicolaus downgraded shares of Archer-Daniels-Midland from a "buy" rating to a "hold" rating and lowered their target price for the stock from $116.00 to $56.00 in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $67.50.

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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