Insider Buying: Archer Daniels Midland (NYSE:ADM) Director Acquires $196,756.00 in Stock

Archer Daniels Midland Company (NYSE:ADM) Director David Mcatee II purchased 2,800 shares of the stock in a transaction dated Thursday, November 5th. The stock was bought at an average cost of $70.27 per share, with a total value of $196,756.00. Following the transaction, the director owned 2,800 shares in the company, valued at $196,756. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Archer Daniels Midland Stock Performance

Shares of Archer Daniels Midland stock opened at $70.95 on Thursday. Archer Daniels Midland Company has a 1 year low of $56.80 and a 1 year high of $88.75. The firm’s 50-day moving average is $80.35 and its 200 day moving average is $76.59. The stock has a market cap of $33.77 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 2.03 and a beta of 0.63. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.45 and a quick ratio of 0.88.

Archer Daniels Midland (NYSE:ADM) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.17. The business had revenue of $22.34 billion during the quarter, compared to analyst estimates of $23.27 billion. Archer Daniels Midland had a net margin of 2.95% and a return on equity of 10.84%. Archer Daniels Midland’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $0.92 EPS. Sell-side analysts anticipate that Archer Daniels Midland Company will post 5.69 EPS for the current fiscal year.

Archer Daniels Midland Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Wednesday, November 18th will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, November 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.9%. Archer Daniels Midland’s dividend payout ratio is presently 40.55%.

Hedge Funds Weigh In On Archer Daniels Midland

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kelleher Financial Advisors bought a new stake in shares of Archer Daniels Midland in the second quarter worth approximately $25,000. Triumph Capital Management lifted its position in Archer Daniels Midland by 62.2% during the third quarter. Triumph Capital Management now owns 313 shares of the company’s stock valued at $25,000 after purchasing an additional 120 shares during the period. William Mack & Associates Inc. bought a new position in Archer Daniels Midland during the third quarter valued at approximately $25,000. Orion Capital Management LLC bought a new position in Archer Daniels Midland during the second quarter valued at approximately $27,000. Finally, Latitude Advisors LLC purchased a new stake in Archer Daniels Midland in the third quarter worth approximately $28,000. Institutional investors own 78.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Archer Daniels Midland from an “underweight” rating to a “neutral” rating and set a $75.00 price target for the company in a research report on Wednesday, November 4th. BMO Capital Markets upped their price objective on Archer Daniels Midland from $77.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, August 5th. Zacks Research cut Archer Daniels Midland from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Barclays increased their target price on Archer Daniels Midland from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group lifted their target price on Archer Daniels Midland from $88.00 to $89.00 in a report on Monday, October 19th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Archer Daniels Midland has an average rating of “Hold” and an average price target of $80.25.

About Archer Daniels Midland

Archer Daniels Midland Company (NYSE: ADM) is a global agricultural supply chain and food ingredient company. It sources, transports, stores and processes crops, connecting farmers with food, feed, fuel and industrial markets. ADM processes commodities such as corn, oilseeds and wheat into products including vegetable oils, protein meals, flour, starches, sweeteners and other food ingredients. Its businesses also supply ingredients and solutions for human and animal nutrition, as well as products used in biofuels and other industrial applications.