New Mexico Educational Retirement Board cut its stake in shares of Archer Daniels Midland Company (NYSE:ADM) by 8.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 53,003 shares of the company’s stock after selling 4,900 shares during the period. New Mexico Educational Retirement Board’s holdings in Archer Daniels Midland were worth $2,236,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Guardian Life Insurance Co. of America boosted its stake 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 last quarter. Enterprise Financial Services Corp boosted its stake 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 last quarter. Ledyard National Bank bought a new stake in shares of Archer Daniels Midland during the first quarter valued at approximately $120,000. Whittier Trust Co. boosted its stake 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 last quarter. Finally, Point72 Asia Hong Kong Ltd boosted its stake 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 last quarter. Institutional investors and hedge funds own 73.21% of the company’s stock.

Archer Daniels Midland Company (ADM) opened at 42.12 on Friday. The firm’s 50 day moving average price is $41.60 and its 200-day moving average price is $43.35. Archer Daniels Midland Company has a 12-month low of $40.22 and a 12-month high of $47.88. The company has a market capitalization of $23.69 billion, a PE ratio of 17.81 and a beta of 1.11.

Archer Daniels Midland (NYSE:ADM) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.05. Archer Daniels Midland had a return on equity of 6.41% and a net margin of 1.84%. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $15.86 billion. During the same period in the previous year, the company posted $0.41 earnings per share. The firm’s revenue was down 4.4% on a year-over-year basis. On average, equities analysts anticipate that Archer Daniels Midland Company will post $2.61 earnings per share for the current fiscal 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 given a dividend of $0.32 per share. The ex-dividend date is Tuesday, August 15th. This represents a $1.28 annualized dividend and a dividend yield of 3.04%. Archer Daniels Midland’s dividend payout ratio is presently 53.78%.

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Several brokerages recently commented on ADM. BidaskClub upgraded Archer Daniels Midland from a “strong sell” rating to a “sell” rating in a report on Thursday, August 3rd. Stifel Nicolaus restated a “hold” rating and set a $45.00 price target (up from $40.00) on shares of Archer Daniels Midland in a report on Thursday, August 3rd. Zacks Investment Research upgraded Archer Daniels Midland from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Argus cut Archer Daniels Midland from a “buy” rating to a “hold” rating in a report on Thursday, June 1st. Finally, Citigroup Inc. restated a “buy” rating on shares of Archer Daniels Midland in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $45.10.

About Archer Daniels Midland

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Institutional Ownership by Quarter for Archer Daniels Midland (NYSE:ADM)

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