New York Life Investment Management LLC Acquires 1,177 Shares of Archer Daniels Midland Company $ADM

New York Life Investment Management LLC increased its holdings in Archer Daniels Midland Company (NYSE:ADM) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,087 shares of the company’s stock after buying an additional 1,177 shares during the period. New York Life Investment Management LLC’s holdings in Archer Daniels Midland were worth $3,805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Archer Daniels Midland by 10.9% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 508,956 shares of the company’s stock worth $26,863,000 after buying an additional 49,954 shares during the period. Perpetual Ltd bought a new position in Archer Daniels Midland in the 2nd quarter valued at $227,000. Wellington Management Group LLP boosted its holdings in Archer Daniels Midland by 17.9% in the 1st quarter. Wellington Management Group LLP now owns 24,944,136 shares of the company’s stock valued at $1,197,568,000 after purchasing an additional 3,791,597 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Archer Daniels Midland by 54.5% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 81,953 shares of the company’s stock valued at $3,935,000 after purchasing an additional 28,896 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in Archer Daniels Midland by 9.5% in the 1st quarter. Allianz Asset Management GmbH now owns 371,258 shares of the company’s stock valued at $17,824,000 after purchasing an additional 32,110 shares during the period. 78.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ADM has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Archer Daniels Midland in a report on Wednesday, October 8th. JPMorgan Chase & Co. assumed coverage on Archer Daniels Midland in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $61.00 target price on the stock. UBS Group restated a “buy” rating and issued a $70.00 target price (up from $60.00) on shares of Archer Daniels Midland in a research note on Monday, August 11th. Morgan Stanley upped their target price on Archer Daniels Midland from $47.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 12th. Finally, Barclays upgraded Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $50.00 to $61.00 in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $55.50.

Archer Daniels Midland Trading Up 0.3%

Shares of ADM stock opened at $60.72 on Friday. The stock has a market capitalization of $29.18 billion, a PE ratio of 26.75, a P/E/G ratio of 4.78 and a beta of 0.70. Archer Daniels Midland Company has a 1-year low of $40.98 and a 1-year high of $65.00. The business has a 50-day moving average of $61.75 and a 200 day moving average of $55.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.42 and a quick ratio of 0.90.

Archer Daniels Midland (NYSE:ADM) last released its quarterly earnings data on Monday, December 2nd. The company reported $1.63 earnings per share (EPS) for the quarter. Archer Daniels Midland had a net margin of 1.33% and a return on equity of 8.43%. The firm had revenue of $21.70 billion for the quarter. As a group, sell-side analysts anticipate that Archer Daniels Midland Company will post 4.31 earnings per share for the current year.

Archer Daniels Midland Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were given a $0.51 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.4%. Archer Daniels Midland’s payout ratio is presently 89.87%.

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.