Bar Harbor Trust Services Sells 1,584 Shares of Archer-Daniels-Midland Company (ADM)
Bar Harbor Trust Services lowered its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 138,971 shares of the company’s stock after selling 1,584 shares during the period. Archer-Daniels-Midland makes up approximately 3.0% of Bar Harbor Trust Services’ portfolio, making the stock its 14th largest position. Bar Harbor Trust Services’ holdings in Archer-Daniels-Midland were worth $5,751,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in ADM. Guardian Life Insurance Co. of America raised its position in shares of Archer-Daniels-Midland by 0.4% in the first quarter. Guardian Life Insurance Co. of America now owns 2,206 shares of the company’s stock valued at $102,000 after buying an additional 8 shares during the period. Enterprise Financial Services Corp raised its position in shares of Archer-Daniels-Midland by 17.7% in the second quarter. Enterprise Financial Services Corp now owns 2,526 shares of the company’s stock valued at $105,000 after buying an additional 380 shares during the period. Ledyard National Bank purchased a new position in shares of Archer-Daniels-Midland during the first quarter valued at approximately $120,000. Whittier Trust Co. raised its position in shares of Archer-Daniels-Midland by 1,221.7% in the first quarter. Whittier Trust Co. now owns 3,172 shares of the company’s stock valued at $146,000 after buying an additional 2,932 shares during the period. Finally, Point72 Asia Hong Kong Ltd raised its position in shares of Archer-Daniels-Midland by 681.1% in the first quarter. Point72 Asia Hong Kong Ltd now owns 3,398 shares of the company’s stock valued at $156,000 after buying an additional 2,963 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.
Shares of Archer-Daniels-Midland Company (NYSE:ADM) opened at 42.05 on Wednesday. The company’s 50-day moving average price is $41.65 and its 200 day moving average price is $43.27. Archer-Daniels-Midland Company has a one year low of $40.22 and a one year high of $47.88. The stock has a market capitalization of $23.66 billion, a PE ratio of 17.78 and a beta of 1.11.
Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $15.86 billion. Archer-Daniels-Midland had a return on equity of 8.40% and a net margin of 2.22%. Archer-Daniels-Midland’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.41 earnings per share. Analysts anticipate that Archer-Daniels-Midland Company will post $2.61 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 17th will be issued a $0.32 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.04%. Archer-Daniels-Midland’s payout ratio is 53.78%.
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Several equities analysts have recently commented on the company. BidaskClub upgraded Archer-Daniels-Midland from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 3rd. Credit Suisse Group set a $45.00 price objective on Archer-Daniels-Midland and gave the company a “hold” rating in a research report on Tuesday, July 18th. BMO Capital Markets reiterated a “hold” rating and set a $41.00 price objective on shares of Archer-Daniels-Midland in a research report on Tuesday, June 27th. Vetr upgraded Archer-Daniels-Midland from a “buy” rating to a “strong-buy” rating and set a $46.76 price objective on the stock in a research report on Wednesday, May 31st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $45.00 price objective (up from $40.00) on shares of Archer-Daniels-Midland in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $45.10.
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