Archer-Daniels-Midland Company (NYSE:ADM - Get Free Report) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 11,250,000 shares, a growth of 13.0% from the December 15th total of 9,960,000 shares. Approximately 2.4% of the shares of the stock are sold short. Based on an average daily volume of 2,970,000 shares, the days-to-cover ratio is presently 3.8 days.
Archer-Daniels-Midland Stock Performance
Archer-Daniels-Midland stock traded up $0.22 during trading hours on Friday, hitting $51.23. 3,234,014 shares of the stock traded hands, compared to its average volume of 2,508,151. 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 has a 1 year low of $48.40 and a 1 year high of $68.85. The stock has a market capitalization of $24.52 billion, a price-to-earnings ratio of 14.64 and a beta of 0.72. The firm's 50 day moving average price is $51.73 and its 200-day moving average price is $56.84.
Archer-Daniels-Midland Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.90%. The ex-dividend date was Thursday, November 21st. Archer-Daniels-Midland's payout ratio is 57.14%.
Archer-Daniels-Midland announced that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that authorizes the company to repurchase 100,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.
Institutional Trading of Archer-Daniels-Midland
Hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. grew its position in Archer-Daniels-Midland by 11.7% during the second quarter. American Century Companies Inc. now owns 277,696 shares of the company's stock valued at $16,787,000 after buying an additional 29,184 shares during the period. Federated Hermes Inc. grew its stake in Archer-Daniels-Midland by 547.9% during the 2nd quarter. Federated Hermes Inc. now owns 19,289 shares of the company's stock valued at $1,166,000 after acquiring an additional 16,312 shares in the last quarter. Edgestream Partners L.P. lifted its position in Archer-Daniels-Midland by 110.0% during the second quarter. Edgestream Partners L.P. now owns 22,132 shares of the company's stock worth $1,338,000 after buying an additional 11,594 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Archer-Daniels-Midland by 18.4% during the 2nd quarter. Amalgamated Bank now owns 130,674 shares of the company's stock worth $7,899,000 after acquiring an additional 20,278 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Archer-Daniels-Midland by 22.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 48,785 shares of the company's stock valued at $2,890,000 after buying an additional 8,944 shares during the period. 78.28% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ADM has been the topic of a number of research reports. Citigroup lifted their price objective on Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Morgan Stanley dropped 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 report on Tuesday, November 12th. Barclays reduced their price target on shares of 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. 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 report on Wednesday, December 4th. Finally, Stephens began coverage on shares of Archer-Daniels-Midland in a research note on Wednesday, December 11th. They issued an "equal weight" rating and a $55.00 price objective for the company. Two analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $59.08.
Read Our Latest Analysis on Archer-Daniels-Midland
About Archer-Daniels-Midland
(
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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.
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