Kornitzer Capital Management Inc. KS Raises Stock Position in Archer-Daniels-Midland Company (NYSE:ADM)

Kornitzer Capital Management Inc. KS boosted its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 220,892 shares of the company’s stock after acquiring an additional 807 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Archer-Daniels-Midland were worth $13,196,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in Archer-Daniels-Midland by 15,790.1% in the second quarter. Pacer Advisors Inc. now owns 7,596,892 shares of the company’s stock valued at $459,232,000 after buying an additional 7,549,083 shares during the last quarter. Vanguard Group Inc. raised its position in Archer-Daniels-Midland by 12.1% in the 1st 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. Jacobs Levy Equity Management Inc. raised its holdings 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 valued at $187,885,000 after buying an additional 1,753,077 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Archer-Daniels-Midland by 73.6% during the second quarter. AQR Capital Management LLC now owns 2,830,927 shares of the company’s stock worth $170,960,000 after buying an additional 1,199,992 shares during the period. Finally, ProShare Advisors LLC increased its position 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 valued at $207,847,000 after acquiring an additional 957,270 shares during the period. 78.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. UBS Group increased their price objective on Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Citigroup lowered their price objective on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $63.82.

Archer-Daniels-Midland Price Performance

Shares of NYSE ADM traded down $0.82 during midday trading on Thursday, hitting $52.44. The company had a trading volume of 415,275 shares, compared to its average volume of 4,257,353. The firm has a market capitalization of $25.07 billion, a price-to-earnings ratio of 10.69 and a beta of 0.73. Archer-Daniels-Midland Company has a twelve month low of $48.92 and a twelve month high of $77.35. The business has a 50-day simple moving average of $58.40 and a two-hundred day simple moving average of $60.19. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.37.

Insider Activity

In related news, CEO Juan R. Luciano sold 45,471 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $61.00, for a total value of $2,773,731.00. Following the completion of the transaction, the chief executive officer now directly owns 265,210 shares of the company’s stock, valued at $16,177,810. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 170,194 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $60.51, for a total transaction of $10,298,438.94. Following the completion of the transaction, the chief executive officer now directly owns 265,210 shares in the company, valued at approximately $16,047,857.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Juan R. Luciano sold 45,471 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $61.00, for a total transaction of $2,773,731.00. Following the completion of the sale, the chief executive officer now owns 265,210 shares in the company, valued at $16,177,810. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 219,348 shares of company stock worth $13,296,833. Company insiders own 1.20% of the company’s stock.

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.