OLD National Bancorp IN Cuts Stock Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

OLD National Bancorp IN cut its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,273 shares of the company’s stock after selling 1,375 shares during the period. OLD National Bancorp IN’s holdings in Archer-Daniels-Midland were worth $974,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empower Advisory Group LLC grew its position in shares of Archer-Daniels-Midland by 6.4% during the 3rd quarter. Empower Advisory Group LLC now owns 1,138,455 shares of the company’s stock valued at $68,011,000 after acquiring an additional 68,133 shares during the period. Kieckhefer Group LLC purchased a new position in Archer-Daniels-Midland during the fourth quarter worth approximately $2,339,000. Nordea Investment Management AB grew its holdings in Archer-Daniels-Midland by 30.7% in the fourth quarter. Nordea Investment Management AB now owns 2,082,442 shares of the company’s stock valued at $105,163,000 after purchasing an additional 489,217 shares during the period. Pacer Advisors Inc. raised its stake in shares of Archer-Daniels-Midland by 6.4% during the 3rd quarter. Pacer Advisors Inc. now owns 8,086,446 shares of the company’s stock worth $483,084,000 after buying an additional 489,554 shares during the period. Finally, Marathon Asset Management Ltd lifted its position in shares of Archer-Daniels-Midland by 4.5% during the 3rd quarter. Marathon Asset Management Ltd now owns 303,155 shares of the company’s stock valued at $18,110,000 after buying an additional 13,177 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Trading Down 0.9 %

ADM opened at $51.20 on Friday. The stock has a market capitalization of $24.50 billion, a PE ratio of 14.63 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 1.40. Archer-Daniels-Midland Company has a one year low of $48.40 and a one year high of $66.08. The business’s 50 day moving average price is $51.46 and its 200 day moving average price is $56.12.

Archer-Daniels-Midland announced that its board has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase 100,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Archer-Daniels-Midland Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a yield of 3.91%. Archer-Daniels-Midland’s payout ratio is currently 57.14%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ADM. Bank of America lowered shares of Archer-Daniels-Midland from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $63.00 to $54.00 in a report on Tuesday, January 14th. BMO Capital Markets reduced their price objective on Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating for the company in a research note on Wednesday, December 4th. Morgan Stanley dropped their target price on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Tuesday, November 12th. Barclays decreased their price target on shares of Archer-Daniels-Midland from $56.00 to $50.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 21st. Finally, Stephens started coverage on shares of Archer-Daniels-Midland in a report on Wednesday, December 11th. They issued an “equal weight” rating and a $55.00 price objective for the company. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.89.

About Archer-Daniels-Midland

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.