Summit Securities Group LLC Buys Shares of 1,200 Archer-Daniels-Midland Company (NYSE:ADM)

Summit Securities Group LLC acquired a new position in Archer-Daniels-Midland Company (NYSE:ADM) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,200 shares of the company’s stock, valued at approximately $61,000.

Other hedge funds have also recently bought and sold shares of the company. AustralianSuper Pty Ltd grew its holdings in Archer-Daniels-Midland by 26.4% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,730,182 shares of the company’s stock worth $87,409,000 after acquiring an additional 360,844 shares during the period. Amundi raised its holdings in shares of Archer-Daniels-Midland by 56.7% in the 4th quarter. Amundi now owns 2,473,393 shares of the company’s stock worth $123,340,000 after purchasing an additional 894,562 shares in the last quarter. Hickory Point Bank & Trust acquired a new stake in Archer-Daniels-Midland during the fourth quarter valued at approximately $1,217,000. Semanteon Capital Management LP bought a new stake in Archer-Daniels-Midland during the fourth quarter worth approximately $614,000. Finally, Aigen Investment Management LP increased its holdings in shares of Archer-Daniels-Midland by 127.7% in the fourth quarter. Aigen Investment Management LP now owns 46,950 shares of the company’s stock valued at $2,372,000 after buying an additional 26,329 shares in the last quarter. 78.28% of the stock is currently owned by institutional investors.

Archer-Daniels-Midland Trading Down 0.8 %

NYSE ADM opened at $47.87 on Monday. The company has a market capitalization of $22.97 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 1.54 and a beta of 0.67. Archer-Daniels-Midland Company has a 1-year low of $44.92 and a 1-year high of $66.08. The company has a current ratio of 1.39, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34. The firm’s fifty day simple moving average is $47.89 and its 200-day simple moving average is $52.14.

Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $22.77 billion. During the same period last year, the business earned $1.36 EPS. The business’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, sell-side 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 declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.51 per share. This is a positive change 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 4.26%. Archer-Daniels-Midland’s dividend payout ratio is 56.51%.

Archer-Daniels-Midland announced that its Board of Directors has initiated a share buyback program on Wednesday, December 11th that allows the company to repurchase 100,000,000 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Bank of America cut their target price on Archer-Daniels-Midland from $54.00 to $48.00 and set an “underperform” rating on the stock in a research report on Tuesday, February 11th. Morgan Stanley reduced their price target on shares of Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. BMO Capital Markets lowered their price objective on shares of Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Citigroup raised their target price on Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Barclays dropped their price target 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. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, Archer-Daniels-Midland presently has a consensus rating of “Hold” and a consensus target price of $53.63.

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.