SlateStone Wealth LLC Sells 37,533 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

SlateStone Wealth LLC cut its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 74.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,600 shares of the company’s stock after selling 37,533 shares during the quarter. SlateStone Wealth LLC’s holdings in Archer-Daniels-Midland were worth $762,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Easterly Investment Partners LLC boosted its position in shares of Archer-Daniels-Midland by 57.2% during the second quarter. Easterly Investment Partners LLC now owns 154,234 shares of the company’s stock worth $9,323,000 after acquiring an additional 56,132 shares during the last quarter. Cypress Capital Group lifted its position in shares of Archer-Daniels-Midland by 337.9% in the second quarter. Cypress Capital Group now owns 19,200 shares of the company’s stock worth $1,161,000 after buying an additional 14,815 shares in the last quarter. AMG National Trust Bank purchased a new position in Archer-Daniels-Midland during the 2nd quarter valued at approximately $372,000. SNS Financial Group LLC increased its stake in Archer-Daniels-Midland by 15.5% in the 2nd quarter. SNS Financial Group LLC now owns 16,140 shares of the company’s stock worth $976,000 after acquiring an additional 2,172 shares during the last quarter. Finally, Courier Capital LLC grew its holdings in shares of Archer-Daniels-Midland by 12.5% in the second quarter. Courier Capital LLC now owns 16,334 shares of the company’s stock valued at $987,000 after purchasing an additional 1,817 shares in the last quarter. Institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Stock Up 0.4 %

ADM stock opened at $60.76 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 0.88. The firm’s fifty day simple moving average is $61.28 and its 200-day simple moving average is $60.09. Archer-Daniels-Midland Company has a 12 month low of $50.72 and a 12 month high of $81.87. The company has a market capitalization of $30.04 billion, a P/E ratio of 10.66 and a beta of 0.74.

Archer-Daniels-Midland (NYSE:ADM) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.19). Archer-Daniels-Midland had a return on equity of 12.06% and a net margin of 2.93%. The business had revenue of $22.25 billion during the quarter, compared to analyst estimates of $23.12 billion. During the same period in the previous year, the company posted $1.89 EPS. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, equities research analysts forecast that Archer-Daniels-Midland Company will post 5.41 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, September 11th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Wednesday, August 21st. Archer-Daniels-Midland’s dividend payout ratio is presently 35.09%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ADM. JPMorgan Chase & Co. lifted their price objective on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Citigroup cut their price objective on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.62.

Archer-Daniels-Midland Profile

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.