New York State Teachers Retirement System Has $42.29 Million Holdings in Archer-Daniels-Midland Company (ADM)
New York State Teachers Retirement System trimmed its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 994,895 shares of the company’s stock after selling 33,403 shares during the quarter. New York State Teachers Retirement System owned approximately 0.18% of Archer-Daniels-Midland worth $42,293,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of ADM. Enterprise Financial Services Corp grew its stake in 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 purchasing an additional 380 shares in the last quarter. Manchester Capital Management LLC grew its stake in Archer-Daniels-Midland by 28.3% in the second quarter. Manchester Capital Management LLC now owns 2,718 shares of the company’s stock valued at $112,000 after purchasing an additional 600 shares in the last quarter. Carroll Financial Associates Inc. grew its stake in Archer-Daniels-Midland by 24.7% in the second quarter. Carroll Financial Associates Inc. now owns 3,854 shares of the company’s stock valued at $159,000 after purchasing an additional 764 shares in the last quarter. V Wealth Management LLC boosted its stake in shares of Archer-Daniels-Midland by 0.5% during the 2nd quarter. V Wealth Management LLC now owns 4,486 shares of the company’s stock worth $184,000 after acquiring an additional 22 shares during the period. Finally, Exane Derivatives boosted its stake in shares of Archer-Daniels-Midland by 575.0% during the 2nd quarter. Exane Derivatives now owns 4,509 shares of the company’s stock worth $187,000 after acquiring an additional 3,841 shares during the period. Hedge funds and other institutional investors own 72.57% of the company’s stock.
Several research analysts have recently commented on the company. Monness Crespi & Hardt assumed coverage on Archer-Daniels-Midland in a research note on Tuesday, October 24th. They set a “sell” rating and a $38.00 target price for the company. Zacks Investment Research upgraded Archer-Daniels-Midland from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Citigroup Inc. downgraded Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $42.25 to $45.00 in a research note on Thursday, September 28th. Robert W. Baird assumed coverage on Archer-Daniels-Midland in a research note on Monday, September 11th. They set an “outperform” rating and a $50.00 target price for the company. Finally, Piper Jaffray Companies set a $42.00 target price on Archer-Daniels-Midland and gave the stock a “hold” rating in a research note on Sunday, October 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $41.53.
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Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings results on Tuesday, October 31st. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.10). Archer-Daniels-Midland had a net margin of 2.01% and a return on equity of 7.86%. The firm had revenue of $14.83 billion for the quarter, compared to analyst estimates of $16 billion. During the same period last year, the firm posted $0.59 EPS. The business’s revenue was down 6.3% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Wednesday, November 15th. Archer-Daniels-Midland’s dividend payout ratio (DPR) is 59.81%.
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