State of Michigan Retirement System Acquires 8,900 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

State of Michigan Retirement System boosted its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,441 shares of the company’s stock after acquiring an additional 8,900 shares during the quarter. State of Michigan Retirement System’s holdings in Archer-Daniels-Midland were worth $8,409,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Silver Coast Investments LLC lifted its holdings in shares of Archer-Daniels-Midland by 4.4% during the fourth quarter. Silver Coast Investments LLC now owns 5,608 shares of the company’s stock worth $283,000 after purchasing an additional 235 shares during the period. SBI Securities Co. Ltd. bought a new position in Archer-Daniels-Midland during the 4th quarter worth $850,000. Jones Financial Companies Lllp grew its position in shares of Archer-Daniels-Midland by 72.6% in the 4th quarter. Jones Financial Companies Lllp now owns 12,037 shares of the company’s stock valued at $608,000 after buying an additional 5,065 shares during the last quarter. Hickory Point Bank & Trust acquired a new stake in shares of Archer-Daniels-Midland in the fourth quarter valued at about $1,217,000. Finally, Sherman Asset Management Inc. bought a new position in shares of Archer-Daniels-Midland during the fourth quarter worth about $47,000. 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 recent analyst reports. Barclays decreased their target price on shares of 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. BMO Capital Markets decreased their price objective on shares of 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. Morgan Stanley dropped their target price on shares of Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Stephens decreased their price target on Archer-Daniels-Midland from $55.00 to $52.00 in a report on Tuesday, February 4th. Finally, Citigroup boosted their price objective on Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $54.89.

Archer-Daniels-Midland Stock Performance

Shares of Archer-Daniels-Midland stock opened at $45.82 on Thursday. The business has a 50-day simple moving average of $48.90 and a 200 day simple moving average of $53.69. The firm has a market capitalization of $21.98 billion, a price-to-earnings ratio of 12.69, a PEG 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 Company has a one year low of $44.92 and a one year high of $66.08.

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

Archer-Daniels-Midland Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.51 per share. This is a boost from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend is Tuesday, February 18th. Archer-Daniels-Midland’s dividend payout ratio (DPR) is currently 56.51%.

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

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.