Connecticut Wealth Management LLC Increases Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

Connecticut Wealth Management LLC raised its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 244.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,842 shares of the company’s stock after purchasing an additional 9,114 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Archer-Daniels-Midland were worth $927,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jeppson Wealth Management LLC lifted its holdings in Archer-Daniels-Midland by 3.3% in the 4th quarter. Jeppson Wealth Management LLC now owns 4,738 shares of the company’s stock worth $342,000 after buying an additional 151 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Archer-Daniels-Midland by 1.0% in the third quarter. Park Avenue Securities LLC now owns 16,850 shares of the company’s stock valued at $1,271,000 after purchasing an additional 172 shares during the last quarter. Strengthening Families & Communities LLC grew its stake in Archer-Daniels-Midland by 37.3% during the 3rd quarter. Strengthening Families & Communities LLC now owns 641 shares of the company’s stock valued at $48,000 after purchasing an additional 174 shares in the last quarter. Modera Wealth Management LLC increased its holdings in Archer-Daniels-Midland by 3.9% during the 3rd quarter. Modera Wealth Management LLC now owns 4,883 shares of the company’s stock worth $368,000 after purchasing an additional 182 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Archer-Daniels-Midland by 1.0% in the 4th quarter. Signaturefd LLC now owns 18,051 shares of the company’s stock valued at $1,304,000 after purchasing an additional 183 shares in the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.

Analysts Set New Price Targets

ADM has been the subject of a number of research analyst reports. Citigroup lifted their price target on shares of Archer-Daniels-Midland from $63.00 to $64.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Roth Mkm cut shares of Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $98.00 to $66.00 in a research report on Monday, January 22nd. Jefferies Financial Group lowered their price objective on Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, March 13th. BMO Capital Markets reduced their target price on Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating on the stock in a report on Wednesday, March 13th. Finally, Stifel Nicolaus lowered Archer-Daniels-Midland from a “buy” rating to a “hold” rating and decreased their target price for the stock from $116.00 to $56.00 in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $67.50.

Archer-Daniels-Midland Stock Performance

Shares of ADM stock traded down $0.18 during trading hours on Friday, reaching $59.17. The stock had a trading volume of 3,273,862 shares, compared to its average volume of 3,743,537. The firm has a market capitalization of $29.26 billion, a PE ratio of 10.38 and a beta of 0.78. The firm has a 50-day simple moving average of $59.63 and a 200-day simple moving average of $64.60. Archer-Daniels-Midland Company has a twelve month low of $50.72 and a twelve month high of $87.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.47 and a quick ratio of 0.95.

Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.35 by $0.11. The company had revenue of $21.85 billion for the quarter, compared to analyst estimates of $22.26 billion. Archer-Daniels-Midland had a net margin of 3.32% and a return on equity of 13.87%. Archer-Daniels-Midland’s revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.09 earnings per share. As a group, equities analysts forecast that Archer-Daniels-Midland Company will post 5.58 earnings per share for the current year.

Archer-Daniels-Midland Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 3.38%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 35.09%.

Archer-Daniels-Midland declared that its Board of Directors has initiated a share buyback plan on Tuesday, March 12th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

About Archer-Daniels-Midland

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.