Citigroup Inc. Cuts Stake in Archer-Daniels-Midland Company (NYSE:ADM)

Citigroup Inc. lowered its stake in Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 19.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 468,078 shares of the company's stock after selling 113,928 shares during the period. Citigroup Inc. owned approximately 0.10% of Archer-Daniels-Midland worth $27,963,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ADM. BOKF NA increased its holdings in shares of Archer-Daniels-Midland by 7.4% in the first quarter. BOKF NA now owns 8,670 shares of the company's stock worth $541,000 after buying an additional 598 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Archer-Daniels-Midland by 1.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 734,301 shares of the company's stock worth $46,123,000 after purchasing an additional 7,681 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Archer-Daniels-Midland by 3.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 67,577 shares of the company's stock worth $4,245,000 after purchasing an additional 2,372 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Archer-Daniels-Midland by 45.1% in the first quarter. Tidal Investments LLC now owns 80,313 shares of the company's stock worth $5,049,000 after purchasing an additional 24,966 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new stake in shares of Archer-Daniels-Midland in the first quarter worth about $1,129,000. Hedge funds and other institutional investors own 78.28% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ADM. Morgan Stanley cut their target price 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. JPMorgan Chase & Co. boosted their price objective on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. Finally, UBS Group upped their target price on shares of Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $62.83.

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 dated Tuesday, September 3rd. The shares were sold at an average price of $60.51, for a total value of $10,298,438.94. Following the completion of the transaction, the chief executive officer now owns 265,210 shares in the company, valued at approximately $16,047,857.10. This represents a 39.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 219,348 shares of company stock worth $13,296,833. Company insiders own 1.20% of the company's stock.

Archer-Daniels-Midland Stock Up 1.3 %

ADM stock traded up $0.71 during trading on Tuesday, hitting $53.72. 3,017,059 shares of the company's stock traded hands, compared to its average volume of 4,199,994. The firm has a market capitalization of $25.71 billion, a P/E ratio of 15.35 and a beta of 0.73. The business has a fifty day simple moving average of $56.31 and a two-hundred day simple moving average of $59.38. The company has a quick ratio of 0.84, a current ratio of 1.40 and a debt-to-equity ratio of 0.34. Archer-Daniels-Midland Company has a 1 year low of $48.92 and a 1 year high of $77.35.

Archer-Daniels-Midland Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.72%. The ex-dividend date is Thursday, November 21st. Archer-Daniels-Midland's dividend payout ratio is currently 57.14%.

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.