Archer Daniels Midland (ADM) Raised to “Buy” at Buckingham Research
Buckingham Research upgraded shares of Archer Daniels Midland (NYSE:ADM) from a neutral rating to a buy rating in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. Buckingham Research currently has $47.00 target price on the stock, up from their prior target price of $41.64.
Other equities analysts also recently issued reports about the company. Vertical Group upgraded Archer Daniels Midland from a hold rating to a buy rating and set a $49.00 target price for the company in a research report on Thursday, February 15th. Robert W. Baird reissued a buy rating and issued a $47.00 price target on shares of Archer Daniels Midland in a research note on Wednesday, November 1st. TheStreet cut Archer Daniels Midland from a b- rating to a c+ rating in a research note on Tuesday, October 31st. Zacks Investment Research raised Archer Daniels Midland from a sell rating to a hold rating in a research note on Friday, February 9th. Finally, Stifel Nicolaus set a $45.00 price target on Archer Daniels Midland and gave the company a hold rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Archer Daniels Midland presently has an average rating of Hold and an average price target of $43.38.
Archer Daniels Midland (ADM) opened at $42.20 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.59 and a quick ratio of 0.86. The company has a market capitalization of $23,600.00, a PE ratio of 20.00 and a beta of 1.09. Archer Daniels Midland has a 1 year low of $38.59 and a 1 year high of $46.39.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 20th will be paid a $0.335 dividend. This is a boost from Archer Daniels Midland’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 16th. This represents a $1.34 annualized dividend and a dividend yield of 3.18%. Archer Daniels Midland’s dividend payout ratio is presently 63.51%.
Several hedge funds have recently modified their holdings of ADM. Victory Capital Management Inc. grew its stake in Archer Daniels Midland by 27.8% during the fourth quarter. Victory Capital Management Inc. now owns 9,409,203 shares of the company’s stock worth $377,121,000 after purchasing an additional 2,044,941 shares during the period. Bank of New York Mellon Corp grew its stake in Archer Daniels Midland by 16.5% during the third quarter. Bank of New York Mellon Corp now owns 8,826,223 shares of the company’s stock worth $375,203,000 after purchasing an additional 1,246,972 shares during the period. Geode Capital Management LLC grew its stake in Archer Daniels Midland by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 6,283,062 shares of the company’s stock worth $251,328,000 after purchasing an additional 185,044 shares during the period. Aristotle Capital Management LLC grew its stake in Archer Daniels Midland by 6.4% during the fourth quarter. Aristotle Capital Management LLC now owns 5,244,585 shares of the company’s stock worth $210,203,000 after purchasing an additional 315,644 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in Archer Daniels Midland by 2.9% during the third quarter. Ameriprise Financial Inc. now owns 4,076,561 shares of the company’s stock worth $173,149,000 after purchasing an additional 113,452 shares during the period. 76.48% of the stock is owned by institutional investors.
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Archer Daniels Midland Company Profile
Archer-Daniels-Midland Company is a processor of oilseeds, corn, wheat, cocoa and other agricultural commodities. The Company manufactures protein meal, vegetable oil, corn sweeteners, flour, biodiesel, ethanol, and other food and feed ingredients. Its segments include Agricultural Services, which utilizes its United States grain elevator, global transportation network and port operations to buy, store, clean and transport agricultural commodities, such as oilseeds, wheat, milo, oats, rice and barley, and resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry; Corn Processing, which is engaged in corn wet milling and dry milling activities; Oilseeds Processing, which includes global activities related to the origination, merchandising, crushing and further processing of oilseeds; Wild Flavors and Specialty Ingredients products, which include flavors, sweeteners and health ingredients; Other, and Corporate.
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