Archer Daniels Midland Co (ADM) Stake Boosted by Sawtooth Solutions LLC
Sawtooth Solutions LLC raised its position in Archer Daniels Midland Co (NYSE:ADM) by 311.8% during the 4th quarter, HoldingsChannel reports. The fund owned 36,708 shares of the company’s stock after buying an additional 27,793 shares during the quarter. Sawtooth Solutions LLC’s holdings in Archer Daniels Midland were worth $1,471,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its stake in Archer Daniels Midland by 27.8% in the 4th quarter. Victory Capital Management Inc. now owns 9,409,203 shares of the company’s stock valued at $377,121,000 after acquiring an additional 2,044,941 shares in the last quarter. Geode Capital Management LLC lifted its stake in Archer Daniels Midland by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 6,283,062 shares of the company’s stock valued at $251,328,000 after acquiring an additional 185,044 shares in the last quarter. Aristotle Capital Management LLC lifted its stake in Archer Daniels Midland by 6.4% in the 4th quarter. Aristotle Capital Management LLC now owns 5,244,585 shares of the company’s stock valued at $210,203,000 after acquiring an additional 315,644 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Archer Daniels Midland by 2.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,076,561 shares of the company’s stock valued at $173,149,000 after acquiring an additional 113,452 shares in the last quarter. Finally, Schroder Investment Management Group lifted its stake in Archer Daniels Midland by 153.8% in the 4th quarter. Schroder Investment Management Group now owns 3,179,178 shares of the company’s stock valued at $127,421,000 after acquiring an additional 1,926,341 shares in the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.
Several equities research analysts have commented on the company. Zacks Investment Research upgraded Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Wednesday, March 7th. Buckingham Research upgraded Archer Daniels Midland from a “neutral” rating to a “buy” rating and boosted their target price for the company from $41.64 to $47.00 in a research note on Wednesday, February 28th. Citigroup upgraded Archer Daniels Midland from a “neutral” rating to a “buy” rating and boosted their target price for the company from $42.72 to $49.00 in a research note on Tuesday, March 6th. Robert W. Baird boosted their target price on Archer Daniels Midland from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Stephens upgraded Archer Daniels Midland from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $44.65.
Archer Daniels Midland (NYSE:ADM) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. Archer Daniels Midland had a return on equity of 7.91% and a net margin of 2.62%. The company had revenue of $16.07 billion for the quarter, compared to analysts’ expectations of $16.64 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The business’s revenue was down 2.6% compared to the same quarter last year. research analysts forecast that Archer Daniels Midland Co will post 2.86 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.335 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.14%. This is a boost from Archer Daniels Midland’s previous quarterly dividend of $0.32. Archer Daniels Midland’s dividend payout ratio is currently 47.86%.
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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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