Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by Bangor Savings Bank

Bangor Savings Bank lowered its position in Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 93.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,056 shares of the company's stock after selling 13,927 shares during the quarter. Bangor Savings Bank's holdings in Archer-Daniels-Midland were worth $53,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in Archer-Daniels-Midland by 15,790.1% during the 2nd quarter. Pacer Advisors Inc. now owns 7,596,892 shares of the company's stock worth $459,232,000 after purchasing an additional 7,549,083 shares during the period. Wellington Management Group LLP lifted its stake in shares of 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 in the last quarter. AQR Capital Management LLC boosted its position in shares of Archer-Daniels-Midland by 73.6% in the second quarter. AQR Capital Management LLC now owns 2,830,927 shares of the company's stock worth $170,960,000 after buying an additional 1,199,992 shares during the period. State Street Corp raised its holdings in shares of Archer-Daniels-Midland by 3.3% during the 3rd quarter. State Street Corp now owns 32,045,672 shares of the company's stock valued at $1,914,408,000 after buying an additional 1,018,256 shares during the period. Finally, FMR LLC lifted its position in Archer-Daniels-Midland by 33.9% during the 3rd quarter. FMR LLC now owns 3,979,867 shares of the company's stock worth $237,757,000 after acquiring an additional 1,007,494 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 NYSE ADM traded up $0.49 during midday trading on Wednesday, hitting $49.92. The company's stock had a trading volume of 3,493,646 shares, compared to its average volume of 2,386,629. The firm has a market cap of $23.89 billion, a P/E ratio of 14.26 and a beta of 0.72. Archer-Daniels-Midland Company has a 1-year low of $48.40 and a 1-year high of $70.99. The firm's fifty day moving average price is $52.08 and its 200-day moving average price is $57.32. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 1.40.

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

Archer-Daniels-Midland Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Thursday, November 21st. Archer-Daniels-Midland's dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analyst Weigh In

ADM has been the subject of several recent research reports. Morgan Stanley lowered their price objective on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an "equal weight" rating for the company in a research report on Tuesday, November 12th. Citigroup lifted 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. BMO Capital Markets lowered 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. Barclays cut their price target on Archer-Daniels-Midland from $60.00 to $56.00 and set an "underweight" rating on the stock in a research note on Wednesday, December 4th. Finally, Stephens assumed coverage on Archer-Daniels-Midland in a research note on Wednesday, December 11th. They set an "equal weight" rating and a $55.00 price objective for the company. One research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $60.62.

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.