Perigon Wealth Management LLC Has $234,000 Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

Perigon Wealth Management LLC lowered its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 35.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,592 shares of the company’s stock after selling 2,520 shares during the quarter. Perigon Wealth Management LLC’s holdings in Archer-Daniels-Midland were worth $234,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its position in Archer-Daniels-Midland by 28.4% during the fourth quarter. Pacer Advisors Inc. now owns 10,382,639 shares of the company’s stock valued at $524,531,000 after purchasing an additional 2,296,193 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Archer-Daniels-Midland during the fourth quarter valued at approximately $45,000. Blue Trust Inc. grew its position in Archer-Daniels-Midland by 33.2% during the fourth quarter. Blue Trust Inc. now owns 6,387 shares of the company’s stock valued at $323,000 after purchasing an additional 1,591 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Archer-Daniels-Midland by 11.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 30,341 shares of the company’s stock valued at $1,533,000 after purchasing an additional 3,105 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its position in Archer-Daniels-Midland by 11.9% during the fourth quarter. Flagship Harbor Advisors LLC now owns 5,734 shares of the company’s stock valued at $290,000 after purchasing an additional 609 shares in the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.

Archer-Daniels-Midland Trading Down 0.9 %

Shares of Archer-Daniels-Midland stock opened at $51.20 on Monday. The stock has a market cap of $24.50 billion, a PE ratio of 14.63 and a beta of 0.72. The firm has a 50-day moving average of $51.42 and a 200-day moving average of $55.98. Archer-Daniels-Midland Company has a 52-week low of $48.40 and a 52-week high of $66.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 1.40.

Archer-Daniels-Midland Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.91%. The ex-dividend date was Thursday, November 21st. Archer-Daniels-Midland’s payout ratio is 57.14%.

Archer-Daniels-Midland declared that its Board of Directors has approved a stock buyback program on Wednesday, December 11th that allows the company to buyback 100,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have commented on ADM. Barclays decreased their target price on shares of Archer-Daniels-Midland from $56.00 to $50.00 and set an “underweight” rating for the company in a research report on Tuesday, January 21st. Bank of America downgraded shares of Archer-Daniels-Midland from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $63.00 to $54.00 in a research report on Tuesday, January 14th. Morgan Stanley decreased their target price on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 12th. Stephens began coverage on shares of Archer-Daniels-Midland in a research report on Wednesday, December 11th. They issued an “equal weight” rating and a $55.00 target price for the company. Finally, BMO Capital Markets decreased their price objective on shares of Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating for the company in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.89.

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.