Flagship Harbor Advisors LLC Raises Stake in Archer-Daniels-Midland Company (NYSE:ADM)

Flagship Harbor Advisors LLC lifted its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 11.9% in the fourth quarter, Holdings Channel reports. The firm owned 5,734 shares of the company’s stock after purchasing an additional 609 shares during the period. Flagship Harbor Advisors LLC’s holdings in Archer-Daniels-Midland were worth $290,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Lake Street Advisors Group LLC grew its holdings in shares of Archer-Daniels-Midland by 4.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 4,015 shares of the company’s stock worth $240,000 after purchasing an additional 183 shares during the period. OLD National Bancorp IN lifted its position in Archer-Daniels-Midland by 0.9% during the 3rd quarter. OLD National Bancorp IN now owns 20,648 shares of the company’s stock worth $1,234,000 after acquiring an additional 189 shares in the last quarter. UMB Bank n.a. lifted its position in Archer-Daniels-Midland by 3.4% during the 3rd quarter. UMB Bank n.a. now owns 5,830 shares of the company’s stock worth $348,000 after acquiring an additional 194 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its position in Archer-Daniels-Midland by 4.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 5,125 shares of the company’s stock worth $306,000 after acquiring an additional 201 shares in the last quarter. Finally, West Financial Advisors LLC lifted its position in Archer-Daniels-Midland by 10.1% during the 4th quarter. West Financial Advisors LLC now owns 2,201 shares of the company’s stock worth $111,000 after acquiring an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Stock Performance

Shares of ADM opened at $51.74 on Thursday. The business’s fifty day moving average price is $51.52 and its 200 day moving average price is $56.19. Archer-Daniels-Midland Company has a 12-month low of $48.40 and a 12-month high of $66.08. The stock has a market capitalization of $24.76 billion, a PE 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 Dividend Announcement

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

Archer-Daniels-Midland announced that its board has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase 100,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on ADM shares. Stephens initiated coverage on Archer-Daniels-Midland in a research report on Wednesday, December 11th. They issued an “equal weight” rating and a $55.00 target price on the stock. Citigroup increased their target price on Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Morgan Stanley reduced their target price on Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 12th. Barclays reduced their target price on Archer-Daniels-Midland from $56.00 to $50.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. Finally, BMO Capital Markets reduced their target price on Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating for the company in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, Archer-Daniels-Midland currently has an average rating of “Hold” and an average target price of $56.89.

Archer-Daniels-Midland Company 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.