Archer-Daniels-Midland Company (NYSE:ADM) Stake Trimmed by Tidal Investments LLC

Tidal Investments LLC cut its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 31.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,593 shares of the company’s stock after selling 19,659 shares during the quarter. Tidal Investments LLC’s holdings in Archer-Daniels-Midland were worth $2,545,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in shares of Archer-Daniels-Midland by 15,790.1% in the 2nd quarter. Pacer Advisors Inc. now owns 7,596,892 shares of the company’s stock valued at $459,232,000 after acquiring an additional 7,549,083 shares in the last quarter. Wellington Management Group LLP raised its position in Archer-Daniels-Midland by 41.5% during the third quarter. Wellington Management Group LLP now owns 19,430,111 shares of the company’s stock valued at $1,160,755,000 after buying an additional 5,702,451 shares during the period. AQR Capital Management LLC lifted its position in shares of Archer-Daniels-Midland by 73.6% in the second quarter. AQR Capital Management LLC now owns 2,830,927 shares of the company’s stock worth $170,960,000 after purchasing an additional 1,199,992 shares in the last quarter. State Street Corp boosted its holdings in shares of Archer-Daniels-Midland by 3.3% during the third quarter. State Street Corp now owns 32,045,672 shares of the company’s stock worth $1,914,408,000 after purchasing an additional 1,018,256 shares during the period. Finally, FMR LLC increased its stake in Archer-Daniels-Midland by 33.9% in the 3rd quarter. FMR LLC now owns 3,979,867 shares of the company’s stock valued at $237,757,000 after buying an additional 1,007,494 shares during the period. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADM has been the subject of a number of research reports. Barclays decreased their target price on shares of Archer-Daniels-Midland from $60.00 to $56.00 and set an “underweight” rating for the company in a research note on Wednesday, December 4th. Morgan Stanley lowered their target price on Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. Citigroup upped their target price on Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. UBS Group boosted their price target on Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, BMO Capital Markets cut their price objective on shares of Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating on the stock in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.62.

Archer-Daniels-Midland Price Performance

NYSE ADM opened at $52.40 on Monday. The company has a market cap of $25.08 billion, a P/E ratio of 14.97 and a beta of 0.72. Archer-Daniels-Midland Company has a 1 year low of $48.92 and a 1 year high of $77.35. The company has a current ratio of 1.40, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $54.50 and a 200 day simple moving average of $58.64.

Archer-Daniels-Midland announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 11th that allows the company to buyback 100,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Archer-Daniels-Midland Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Thursday, November 21st. Archer-Daniels-Midland’s dividend payout ratio is currently 57.14%.

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.