Archer-Daniels-Midland Company (NYSE:ADM) Position Reduced by Fifth Third Bancorp

Fifth Third Bancorp lessened its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 41.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,769 shares of the company’s stock after selling 12,016 shares during the quarter. Fifth Third Bancorp’s holdings in Archer-Daniels-Midland were worth $847,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. State Street Corp lifted its holdings in Archer-Daniels-Midland by 3.3% during the 3rd quarter. State Street Corp now owns 32,045,672 shares of the company’s stock worth $1,914,408,000 after buying an additional 1,018,256 shares during the last quarter. Wellington Management Group LLP lifted its stake in Archer-Daniels-Midland by 41.5% during the third quarter. Wellington Management Group LLP now owns 19,430,111 shares of the company’s stock worth $1,160,755,000 after purchasing an additional 5,702,451 shares during the last quarter. Pacer Advisors Inc. increased its stake in Archer-Daniels-Midland by 6.4% during the third quarter. Pacer Advisors Inc. now owns 8,086,446 shares of the company’s stock valued at $483,084,000 after purchasing an additional 489,554 shares during the last quarter. FMR LLC raised its holdings in shares of Archer-Daniels-Midland by 33.9% during the third quarter. FMR LLC now owns 3,979,867 shares of the company’s stock worth $237,757,000 after purchasing an additional 1,007,494 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Archer-Daniels-Midland by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,607,843 shares of the company’s stock valued at $215,533,000 after buying an additional 63,883 shares during the period. Institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Price Performance

Shares of NYSE:ADM opened at $51.74 on Thursday. The stock has a market cap of $24.76 billion, a price-to-earnings ratio of 14.78 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 0.84. Archer-Daniels-Midland Company has a 12 month low of $48.40 and a 12 month high of $66.08. The stock’s 50 day moving average price is $51.52 and its 200 day moving average price is $56.19.

Archer-Daniels-Midland announced that its Board of Directors has authorized a share buyback plan on Wednesday, December 11th that allows the company to repurchase 100,000,000 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Archer-Daniels-Midland Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.00 annualized dividend and a yield of 3.87%. Archer-Daniels-Midland’s dividend payout ratio is currently 57.14%.

Wall Street Analysts Forecast Growth

ADM has been the topic of a number of recent research reports. Barclays cut their target price on shares of Archer-Daniels-Midland from $56.00 to $50.00 and set an “underweight” rating on the stock in a report on Tuesday, January 21st. Bank of America lowered Archer-Daniels-Midland from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $63.00 to $54.00 in a research report on Tuesday, January 14th. BMO Capital Markets cut their target price on Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating on the stock in a research note on Wednesday, December 4th. Stephens initiated coverage on shares of Archer-Daniels-Midland in a research report on Wednesday, December 11th. They set an “equal weight” rating and a $55.00 price target for the company. Finally, Citigroup lifted their price objective on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.89.

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.