Cullen Capital Management LLC Lowers Stock Position in Archer-Daniels-Midland Company (NYSE:ADM)

Cullen Capital Management LLC decreased its position in Archer-Daniels-Midland Company (NYSE:ADM) by 2.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 22,578 shares of the company’s stock after selling 612 shares during the period. Cullen Capital Management LLC’s holdings in Archer-Daniels-Midland were worth $1,141,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Resona Asset Management Co. Ltd. purchased a new position in Archer-Daniels-Midland during the fourth quarter worth approximately $8,464,000. Geode Capital Management LLC raised its stake in shares of Archer-Daniels-Midland by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 11,715,040 shares of the company’s stock worth $590,305,000 after buying an additional 247,647 shares during the period. National Bank of Canada FI lifted its position in shares of Archer-Daniels-Midland by 1.0% during the 4th quarter. National Bank of Canada FI now owns 329,875 shares of the company’s stock valued at $16,643,000 after buying an additional 3,134 shares in the last quarter. Franklin Resources Inc. grew its stake in Archer-Daniels-Midland by 5.4% in the 4th quarter. Franklin Resources Inc. now owns 294,360 shares of the company’s stock valued at $14,871,000 after acquiring an additional 14,966 shares during the period. Finally, Summit Financial LLC purchased a new stake in Archer-Daniels-Midland in the 4th quarter worth $760,000. Institutional investors and hedge funds own 78.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADM. 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 decreased their price target on shares of Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Bank of America cut their price objective on Archer-Daniels-Midland from $54.00 to $48.00 and set an “underperform” rating for the company in a research note on Tuesday, February 11th. Barclays decreased their target price on Archer-Daniels-Midland from $50.00 to $48.00 and set an “underweight” rating on the stock in a research report on Monday, February 24th. Finally, BMO Capital Markets dropped their price target 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. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $53.63.

Archer-Daniels-Midland Stock Performance

Shares of Archer-Daniels-Midland stock opened at $43.32 on Friday. The business’s 50 day moving average price is $47.51 and its 200 day moving average price is $51.74. The company has a market cap of $20.78 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.54 and a beta of 0.66. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.39. Archer-Daniels-Midland Company has a one year low of $43.01 and a one year high of $66.08.

Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.14 EPS for the quarter, topping the consensus estimate 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 business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $22.77 billion. During the same quarter in the previous year, the firm earned $1.36 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, research analysts predict that Archer-Daniels-Midland Company will post 4.31 EPS for the current year.

Archer-Daniels-Midland declared that its board has approved a share repurchase plan on Wednesday, December 11th that allows the company to repurchase 100,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Archer-Daniels-Midland Increases Dividend

The company 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. This is a boost from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.04 annualized dividend and a dividend yield of 4.71%. Archer-Daniels-Midland’s dividend payout ratio is 56.51%.

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.