Allstate Corp Buys New Shares in Archer-Daniels-Midland Company (NYSE:ADM)

Allstate Corp acquired a new position in shares of Archer-Daniels-Midland Company (NYSE:ADM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,233 shares of the company's stock, valued at approximately $719,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pictet Asset Management Holding SA increased its holdings in shares of Archer-Daniels-Midland by 2.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 222,932 shares of the company's stock valued at $11,263,000 after acquiring an additional 5,399 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Archer-Daniels-Midland by 18.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 848,364 shares of the company's stock valued at $42,859,000 after purchasing an additional 129,525 shares during the last quarter. Boussard & Gavaudan Investment Management LLP purchased a new position in Archer-Daniels-Midland in the fourth quarter valued at about $2,237,000. Norges Bank purchased a new stake in shares of Archer-Daniels-Midland during the 4th quarter worth approximately $333,521,000. Finally, Caisse Des Depots ET Consignations bought a new stake in shares of Archer-Daniels-Midland in the fourth quarter valued at $1,278,000. 78.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ADM has been the topic of a number of research reports. Bank of America lowered their price objective on Archer-Daniels-Midland from $54.00 to $48.00 and set an "underperform" rating on the stock in a research note on Tuesday, February 11th. Stephens dropped their price target on shares of Archer-Daniels-Midland from $55.00 to $52.00 in a research note on Tuesday, February 4th. Barclays reduced their price objective on shares of Archer-Daniels-Midland from $50.00 to $48.00 and set an "underweight" rating for the company in a research note on Monday, February 24th. Morgan Stanley dropped their target price on Archer-Daniels-Midland from $52.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 11th. Finally, BMO Capital Markets reduced their price target on Archer-Daniels-Midland from $51.00 to $49.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $53.63.

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Archer-Daniels-Midland Price Performance

Shares of Archer-Daniels-Midland stock traded down $4.25 during trading on Friday, hitting $43.32. The stock had a trading volume of 6,801,971 shares, compared to its average volume of 3,610,646. The company has a current ratio of 1.39, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34. Archer-Daniels-Midland Company has a 12 month low of $43.01 and a 12 month high of $66.08. The firm has a market cap of $20.78 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 1.54 and a beta of 0.66. The business's 50-day moving average is $47.51 and its 200 day moving average is $51.74.

Archer-Daniels-Midland (NYSE:ADM - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.07. Archer-Daniels-Midland had a return on equity of 10.44% and a net margin of 2.10%. The firm had revenue of $21.50 billion for the quarter, compared to analysts' expectations of $22.77 billion. During the same quarter last year, the firm posted $1.36 EPS. The company's revenue was down 6.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Archer-Daniels-Midland Company will post 4.31 earnings per share for the current year.

Archer-Daniels-Midland Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were issued a $0.51 dividend. This is a positive change from Archer-Daniels-Midland's previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, February 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.71%. Archer-Daniels-Midland's dividend payout ratio is presently 56.51%.

Archer-Daniels-Midland declared that its Board of Directors has authorized a share buyback plan on Wednesday, December 11th that permits the company to buyback 100,000,000 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

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.