14,233 Shares in Archer-Daniels-Midland Company (NYSE:ADM) Bought by Allstate Corp

Allstate Corp purchased a new stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 14,233 shares of the company’s stock, valued at approximately $719,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Archer-Daniels-Midland by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 62,359,269 shares of the company’s stock worth $3,150,390,000 after purchasing an additional 706,567 shares during the last quarter. State Street Corp lifted its holdings in Archer-Daniels-Midland by 3.3% in the 3rd quarter. State Street Corp now owns 32,045,672 shares of the company’s stock worth $1,914,408,000 after buying an additional 1,018,256 shares during the period. Wellington Management Group LLP grew its position in shares of Archer-Daniels-Midland by 41.5% in the 3rd quarter. Wellington Management Group LLP now owns 19,430,111 shares of the company’s stock worth $1,160,755,000 after buying an additional 5,702,451 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Archer-Daniels-Midland by 28.4% during the fourth quarter. Pacer Advisors Inc. now owns 10,382,639 shares of the company’s stock valued at $524,531,000 after acquiring an additional 2,296,193 shares in the last quarter. Finally, Norges Bank purchased a new stake in Archer-Daniels-Midland in the fourth quarter worth $333,521,000. Institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Price Performance

ADM opened at $48.02 on Tuesday. Archer-Daniels-Midland Company has a 1 year low of $44.92 and a 1 year high of $66.08. The stock has a 50-day moving average price of $47.83 and a 200-day moving average price of $52.06. The firm has a market cap of $23.04 billion, a PE ratio of 13.30, a P/E/G ratio of 1.54 and a beta of 0.67. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.39 and a quick ratio of 0.81.

Archer-Daniels-Midland (NYSE:ADM) last issued its earnings results on Tuesday, February 4th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.07. The firm had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $22.77 billion. Archer-Daniels-Midland had a net margin of 2.10% and a return on equity of 10.44%. The business’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 earnings per share. Sell-side analysts predict that Archer-Daniels-Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer-Daniels-Midland announced that its board has approved a stock repurchase program on Wednesday, December 11th that allows the company to repurchase 100,000,000 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Archer-Daniels-Midland Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a $0.51 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.04 annualized dividend and a dividend yield of 4.25%. This is a boost from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. Archer-Daniels-Midland’s payout ratio is currently 56.51%.

Wall Street Analyst Weigh In

Several research analysts have commented on ADM shares. Stephens decreased their price objective on shares of Archer-Daniels-Midland from $55.00 to $52.00 in a report on Tuesday, February 4th. Morgan Stanley cut their price objective on Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. BMO Capital Markets decreased their target price on Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Citigroup lifted their price target on Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Barclays lowered their price objective on Archer-Daniels-Midland from $50.00 to $48.00 and set an “underweight” rating for the company in a research report on Monday, February 24th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $53.63.

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.