Bank of Montreal Can Raises Stake in Archer-Daniels-Midland Company (NYSE:ADM)

Bank of Montreal Can grew its stake in Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 8.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 559,660 shares of the company's stock after purchasing an additional 44,241 shares during the period. Bank of Montreal Can owned about 0.12% of Archer-Daniels-Midland worth $33,580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Quent Capital LLC raised its stake in shares of Archer-Daniels-Midland by 8.2% during the 2nd quarter. Quent Capital LLC now owns 2,158 shares of the company's stock worth $130,000 after purchasing an additional 164 shares during the period. Focused Wealth Management Inc raised its stake in shares of Archer-Daniels-Midland by 3.3% during the 2nd quarter. Focused Wealth Management Inc now owns 5,338 shares of the company's stock worth $323,000 after purchasing an additional 169 shares during the period. Accordant Advisory Group Inc raised its stake in shares of Archer-Daniels-Midland by 0.8% during the 2nd quarter. Accordant Advisory Group Inc now owns 23,462 shares of the company's stock worth $1,418,000 after purchasing an additional 176 shares during the period. Legacy Capital Group California Inc. raised its stake in shares of Archer-Daniels-Midland by 1.2% during the 2nd quarter. Legacy Capital Group California Inc. now owns 15,327 shares of the company's stock worth $927,000 after purchasing an additional 181 shares during the period. Finally, Lake Street Advisors Group LLC raised its stake 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. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADM. UBS Group boosted their price objective on Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday, September 9th. Morgan Stanley lowered their price objective on Archer-Daniels-Midland from $57.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the company's stock. According to MarketBeat, Archer-Daniels-Midland presently has an average rating of "Hold" and a consensus price target of $62.83.

Archer-Daniels-Midland Price Performance

Shares of ADM traded up $0.23 during midday trading on Friday, hitting $54.60. 1,810,243 shares of the company traded hands, compared to its average volume of 4,180,529. The stock has a 50-day moving average of $56.03 and a 200-day moving average of $59.32. Archer-Daniels-Midland Company has a one year low of $48.92 and a one year high of $77.35. The firm has a market cap of $26.13 billion, a P/E ratio of 15.53 and a beta of 0.73. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Thursday, November 21st. Archer-Daniels-Midland's payout ratio is 57.14%.

Insider Transactions at Archer-Daniels-Midland

In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 170,194 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $60.51, for a total value of $10,298,438.94. Following the completion of the sale, the chief executive officer now owns 265,210 shares of the company's stock, valued at $16,047,857.10. This represents a 39.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by insiders.

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.