Horizon Kinetics Asset Management LLC Cuts Position in Archer-Daniels-Midland Company (NYSE:ADM)

Horizon Kinetics Asset Management LLC decreased its position in Archer-Daniels-Midland Company (NYSE:ADM) by 16.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 545,719 shares of the company’s stock after selling 108,092 shares during the quarter. Horizon Kinetics Asset Management LLC owned 0.11% of Archer-Daniels-Midland worth $27,570,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. State Street Corp increased its position 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 acquiring an additional 1,018,256 shares during the period. Wellington Management Group LLP increased its position in shares of 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 worth $1,160,755,000 after acquiring an additional 5,702,451 shares during the period. Pacer Advisors Inc. increased its position 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 worth $524,531,000 after acquiring an additional 2,296,193 shares during the period. FMR LLC grew its stake in shares of Archer-Daniels-Midland by 33.9% during the third quarter. FMR LLC now owns 3,979,867 shares of the company’s stock worth $237,757,000 after purchasing an additional 1,007,494 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Archer-Daniels-Midland by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,875,945 shares of the company’s stock worth $195,813,000 after purchasing an additional 268,102 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ADM shares. Barclays lowered 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 note on Monday, February 24th. BMO Capital Markets lowered their target price on shares of Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Citigroup upped their price objective on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Stephens decreased their price objective on shares of Archer-Daniels-Midland from $55.00 to $52.00 in a research note on Tuesday, February 4th. Finally, Bank of America decreased their price objective on shares of 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. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $53.63.

Archer-Daniels-Midland Price Performance

Shares of ADM opened at $47.26 on Monday. Archer-Daniels-Midland Company has a fifty-two week low of $44.92 and a fifty-two week high of $66.08. The company has a market capitalization of $22.67 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.54 and a beta of 0.67. The firm has a 50-day simple moving average of $48.62 and a 200-day simple moving average of $53.07. 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 (NYSE:ADM) last announced its earnings results on Tuesday, February 4th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.07. The business had revenue of $21.50 billion during 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 quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 earnings per share. On average, equities research analysts anticipate that Archer-Daniels-Midland Company will post 4.31 earnings per share for the current year.

Archer-Daniels-Midland Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were 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 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Tuesday, February 18th. Archer-Daniels-Midland’s dividend payout ratio is currently 56.51%.

Archer-Daniels-Midland declared that its board has initiated a stock repurchase program on Wednesday, December 11th that permits the company to buyback 100,000,000 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is 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.