Cutter & CO Brokerage Inc. Lowers Stock Position in Archer-Daniels-Midland Company (NYSE:ADM)

Cutter & CO Brokerage Inc. trimmed its holdings in Archer-Daniels-Midland Company (NYSE:ADM) by 3.4% in the 2nd quarter, Holdings Channel reports. The fund owned 87,983 shares of the company’s stock after selling 3,074 shares during the quarter. Archer-Daniels-Midland accounts for about 1.3% of Cutter & CO Brokerage Inc.’s investment portfolio, making the stock its 16th biggest position. Cutter & CO Brokerage Inc.’s holdings in Archer-Daniels-Midland were worth $5,319,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Archer-Daniels-Midland by 12.1% during the first quarter. Vanguard Group Inc. now owns 67,826,217 shares of the company’s stock valued at $4,260,165,000 after purchasing an additional 7,320,289 shares during the last quarter. Norges Bank bought a new stake in Archer-Daniels-Midland in the fourth quarter worth $420,457,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Archer-Daniels-Midland by 141.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,991,324 shares of the company’s stock worth $187,885,000 after acquiring an additional 1,753,077 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Archer-Daniels-Midland by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 15,325,806 shares of the company’s stock valued at $1,106,830,000 after acquiring an additional 1,532,284 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Archer-Daniels-Midland by 40.7% in the 1st quarter. ProShare Advisors LLC now owns 3,309,140 shares of the company’s stock worth $207,847,000 after purchasing an additional 957,270 shares in the last quarter. Institutional investors own 78.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Citigroup decreased their price objective on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $64.62.

Insider Transactions at Archer-Daniels-Midland

In related news, CEO Juan R. Luciano sold 3,683 shares of Archer-Daniels-Midland stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $61.00, for a total transaction of $224,663.00. Following the transaction, the chief executive officer now directly owns 265,210 shares in the company, valued at $16,177,810. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by company insiders.

Archer-Daniels-Midland Stock Performance

ADM traded up $0.15 during mid-day trading on Friday, reaching $60.99. 3,369,054 shares of the company traded hands, compared to its average volume of 2,319,551. The company’s fifty day moving average price is $61.31 and its 200-day moving average price is $60.25. The stock has a market capitalization of $29.16 billion, a P/E ratio of 10.70 and a beta of 0.74. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.37. Archer-Daniels-Midland Company has a 52-week low of $50.72 and a 52-week high of $81.70.

Archer-Daniels-Midland (NYSE:ADM) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.19). Archer-Daniels-Midland had a net margin of 2.93% and a return on equity of 12.06%. The firm had revenue of $22.25 billion for the quarter, compared to the consensus estimate of $23.12 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. On average, sell-side analysts expect that Archer-Daniels-Midland Company will post 5.47 EPS for the current year.

Archer-Daniels-Midland Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Wednesday, August 21st. Archer-Daniels-Midland’s dividend payout ratio is presently 35.09%.

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.