M&T Bank Corp Cuts Stock Position in Archer-Daniels-Midland Company (NYSE:ADM)

M&T Bank Corp reduced its stake in Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 74.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,642 shares of the company's stock after selling 142,991 shares during the quarter. M&T Bank Corp's holdings in Archer-Daniels-Midland were worth $3,585,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB raised its position in shares of Archer-Daniels-Midland by 12.8% in the 4th quarter. Nordea Investment Management AB now owns 1,227,250 shares of the company's stock valued at $88,534,000 after purchasing an additional 139,064 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Archer-Daniels-Midland by 3.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,072,606 shares of the company's stock worth $80,896,000 after buying an additional 31,700 shares during the last quarter. Pathstone Family Office LLC raised its position in Archer-Daniels-Midland by 543.2% during the 3rd quarter. Pathstone Family Office LLC now owns 28,000 shares of the company's stock worth $2,112,000 after buying an additional 23,647 shares during the last quarter. Artemis Investment Management LLP raised its position in Archer-Daniels-Midland by 12.3% during the 4th quarter. Artemis Investment Management LLP now owns 733,113 shares of the company's stock worth $52,946,000 after buying an additional 80,245 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Archer-Daniels-Midland by 17.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 599,717 shares of the company's stock worth $43,312,000 after buying an additional 87,752 shares during the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.

Archer-Daniels-Midland Price Performance

ADM traded up $0.44 on Wednesday, hitting $62.03. 4,022,624 shares of the company's stock were exchanged, compared to its average volume of 5,773,188. Archer-Daniels-Midland Company has a fifty-two week low of $50.72 and a fifty-two week high of $87.30. The company has a current ratio of 1.47, a quick ratio of 0.88 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $59.95 and a 200-day moving average price of $64.43. The stock has a market cap of $30.67 billion, a price-to-earnings ratio of 10.88 and a beta of 0.78.

Archer-Daniels-Midland (NYSE:ADM - Get Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.11. Archer-Daniels-Midland had a net margin of 3.32% and a return on equity of 13.87%. The company had revenue of $21.85 billion for the quarter, compared to analysts' expectations of $22.26 billion. During the same quarter in the previous year, the company posted $2.09 EPS. The firm's quarterly revenue was down 9.2% on a year-over-year basis. As a group, equities analysts anticipate that Archer-Daniels-Midland Company will post 5.58 earnings per share for the current year.

Archer-Daniels-Midland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.00 annualized dividend and a yield of 3.22%. Archer-Daniels-Midland's dividend payout ratio (DPR) is presently 35.09%.

Archer-Daniels-Midland declared that its Board of Directors has authorized 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 buy up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. UBS Group reissued a "neutral" rating and set a $51.00 price target (down from $104.00) on shares of Archer-Daniels-Midland in a research report on Friday, January 26th. Barclays lowered shares of Archer-Daniels-Midland from an "overweight" rating to an "underweight" rating and set a $60.00 target price for the company. in a report on Monday, January 22nd. Roth Capital lowered shares of Archer-Daniels-Midland from a "buy" rating to a "neutral" rating in a report on Monday, January 22nd. The Goldman Sachs Group lowered shares of Archer-Daniels-Midland from a "buy" rating to a "neutral" rating and cut their target price for the company from $90.00 to $67.00 in a report on Monday, January 22nd. Finally, Roth Mkm lowered shares of Archer-Daniels-Midland from a "buy" rating to a "neutral" rating and cut their target price for the company from $98.00 to $66.00 in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $67.50.

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.