Taylor Hoffman Wealth Management Sells 690 Shares of Archer Daniels Midland Co (NYSE:ADM)

Taylor Hoffman Wealth Management lessened its stake in Archer Daniels Midland Co (NYSE:ADM) by 10.7% in the third quarter, HoldingsChannel reports. The firm owned 5,732 shares of the company’s stock after selling 690 shares during the period. Taylor Hoffman Wealth Management’s holdings in Archer Daniels Midland were worth $235,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADM. Steward Partners Investment Advisory LLC acquired a new position in Archer Daniels Midland in the second quarter valued at about $31,000. Cornerstone Advisors Inc. grew its stake in Archer Daniels Midland by 48.9% in the second quarter. Cornerstone Advisors Inc. now owns 917 shares of the company’s stock valued at $37,000 after acquiring an additional 301 shares during the period. Hartford Financial Management Inc. grew its stake in Archer Daniels Midland by 125.0% in the second quarter. Hartford Financial Management Inc. now owns 900 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares during the period. Coastal Capital Group Inc. acquired a new position in Archer Daniels Midland in the second quarter valued at about $41,000. Finally, Bartlett & Co. LLC grew its stake in Archer Daniels Midland by 187.4% in the third quarter. Bartlett & Co. LLC now owns 1,006 shares of the company’s stock valued at $41,000 after acquiring an additional 656 shares during the period. Institutional investors and hedge funds own 75.84% of the company’s stock.

Shares of ADM stock traded down $0.23 on Friday, hitting $43.31. 2,481,431 shares of the stock were exchanged, compared to its average volume of 3,479,829. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $23.92 billion, a P/E ratio of 12.37 and a beta of 1.10. The business has a 50-day moving average of $40.81 and a 200 day moving average of $40.39. Archer Daniels Midland Co has a fifty-two week low of $36.45 and a fifty-two week high of $48.99.

Archer Daniels Midland (NYSE:ADM) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.10. The company had revenue of $16.73 billion during the quarter, compared to analysts’ expectations of $16.18 billion. Archer Daniels Midland had a return on equity of 8.06% and a net margin of 1.85%. Archer Daniels Midland’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. As a group, research analysts forecast that Archer Daniels Midland Co will post 2.57 EPS for the current fiscal year.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.40 annualized dividend and a dividend yield of 3.23%. Archer Daniels Midland’s dividend payout ratio is currently 40.00%.

ADM has been the subject of a number of research analyst reports. Barclays reissued an “overweight” rating on shares of Archer Daniels Midland in a research note on Thursday, October 24th. Credit Suisse Group reduced their price objective on Archer Daniels Midland from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Argus upped their price objective on Archer Daniels Midland from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday. Buckingham Research reduced their price objective on Archer Daniels Midland from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Finally, Peel Hunt reaffirmed a “hold” rating on shares of Archer Daniels Midland in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $48.38.

Archer Daniels Midland Profile

Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. The company operates through four segments: Origination, Oilseeds, Carbohydrate Solutions, and Nutrition. It buys, stores, cleans, and transports agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, as well as resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry.

Featured Story: Accumulation/Distribution

Want to see what other hedge funds are holding ADM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Archer Daniels Midland Co (NYSE:ADM).

Institutional Ownership by Quarter for Archer Daniels Midland (NYSE:ADM)

Leave a Reply

Your email address will not be published. Required fields are marked *

*