Allspring Global Investments Holdings LLC Reduces Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

Allspring Global Investments Holdings LLC decreased its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 28.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,201 shares of the company's stock after selling 44,759 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Archer-Daniels-Midland were worth $5,735,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC boosted its position in shares of Archer-Daniels-Midland by 4.3% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 13,162 shares of the company's stock worth $665,000 after buying an additional 548 shares during the period. Stonebridge Financial Group LLC bought a new stake in Archer-Daniels-Midland during the fourth quarter valued at about $28,000. Essex Financial Services Inc. raised its position in shares of Archer-Daniels-Midland by 14.6% during the fourth quarter. Essex Financial Services Inc. now owns 16,561 shares of the company's stock valued at $837,000 after buying an additional 2,105 shares during the last quarter. Principle Wealth Partners LLC grew its stake in Archer-Daniels-Midland by 13.0% during the fourth quarter. Principle Wealth Partners LLC now owns 12,177 shares of the company's stock worth $615,000 after buying an additional 1,400 shares during the last quarter. Finally, Arlington Trust Co LLC bought a new stake in shares of Archer-Daniels-Midland during the fourth quarter valued at approximately $51,000. 78.28% of the stock is owned by institutional investors and hedge funds.

Archer-Daniels-Midland Stock Performance

Archer-Daniels-Midland stock traded up $1.73 during midday trading on Friday, reaching $48.28. 2,396,008 shares of the company's stock were exchanged, compared to its average volume of 3,563,201. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.84 and a current ratio of 5.44. Archer-Daniels-Midland Company has a 52 week low of $44.92 and a 52 week high of $66.08. The stock's 50-day simple moving average is $49.55 and its 200 day simple moving average is $54.42. The firm has a market cap of $23.10 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 1.47 and a beta of 0.72.

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

Archer-Daniels-Midland declared that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that permits the company to buyback 100,000,000 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Archer-Daniels-Midland Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be given a $0.51 dividend. This is a positive change from Archer-Daniels-Midland's previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Tuesday, February 18th. Archer-Daniels-Midland's dividend payout ratio (DPR) is presently 56.51%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Bank of America dropped their price objective on shares of Archer-Daniels-Midland from $54.00 to $48.00 and set an "underperform" rating on the stock in a report on Tuesday, February 11th. Stephens reduced their price target on shares of Archer-Daniels-Midland from $55.00 to $52.00 in a report on Tuesday, February 4th. Barclays lowered their price objective on shares of Archer-Daniels-Midland from $56.00 to $50.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 21st. Citigroup boosted their price target on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets reduced their price objective on shares of Archer-Daniels-Midland from $51.00 to $49.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $55.11.

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.