Huntington National Bank Continues to Hold Stake in Archer Daniels Midland Co. (ADM)
Huntington National Bank maintained its position in Archer Daniels Midland Co. (NYSE:ADM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,986 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Archer Daniels Midland were worth $6,019,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in ADM. Dubuque Bank & Trust Co. raised its position in Archer Daniels Midland by 46.8% in the first quarter. Dubuque Bank & Trust Co. now owns 9,241 shares of the company’s stock valued at $336,000 after buying an additional 2,948 shares during the period. IFP Advisors Inc increased its stake in Archer Daniels Midland by 94.9% in the first quarter. IFP Advisors Inc now owns 6,470 shares of the company’s stock valued at $235,000 after buying an additional 3,151 shares in the last quarter. Virginia Retirement System acquired a new stake in Archer Daniels Midland during the first quarter valued at about $11,331,000. Nisa Investment Advisors L.L.C. increased its stake in Archer Daniels Midland by 2.9% in the first quarter. Nisa Investment Advisors L.L.C. now owns 173,209 shares of the company’s stock valued at $6,289,000 after buying an additional 4,800 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. acquired a new stake in Archer Daniels Midland during the first quarter valued at about $475,000. 72.78% of the stock is currently owned by hedge funds and other institutional investors.
Archer Daniels Midland Co. (NYSE:ADM) traded down 0.07% during trading on Tuesday, hitting $42.15. 2,381,152 shares of the stock traded hands. The stock has a market cap of $24.52 billion, a PE ratio of 17.05 and a beta of 1.08. Archer Daniels Midland Co. has a one year low of $29.86 and a one year high of $47.03. The company has a 50-day moving average price of $43.33 and a 200 day moving average price of $40.91.
Archer Daniels Midland (NYSE:ADM) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by $0.04. Archer Daniels Midland had a net margin of 2.35% and a return on equity of 6.88%. The company had revenue of $15.63 billion for the quarter, compared to analyst estimates of $16.57 billion. During the same quarter last year, the business earned $0.60 EPS. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. Analysts expect that Archer Daniels Midland Co. will post $2.27 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Shareholders of record on Wednesday, August 17th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, August 15th. This represents a $1.20 annualized dividend and a yield of 2.85%. Archer Daniels Midland’s dividend payout ratio (DPR) is presently 48.58%.
Several research firms have issued reports on ADM. Macquarie lifted their price objective on Archer Daniels Midland from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, August 29th. Morgan Stanley restated a “hold” rating on shares of Archer Daniels Midland in a report on Thursday, June 16th. Vetr upgraded Archer Daniels Midland from a “hold” rating to a “strong-buy” rating and set a $49.80 price objective on the stock in a report on Tuesday, September 6th. Zacks Investment Research upgraded Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Wednesday, June 29th. Finally, BMO Capital Markets upgraded Archer Daniels Midland from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $40.44 to $48.00 in a report on Tuesday, May 24th. Eleven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $45.07.
In other Archer Daniels Midland news, insider Ambrose Michael D sold 41,525 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $45.00, for a total transaction of $1,868,625.00. Following the transaction, the insider now owns 198,028 shares in the company, valued at $8,911,260. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.15% of the company’s stock.
About Archer Daniels Midland
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