Norges Bank Invests $333.52 Million in Archer-Daniels-Midland Company (NYSE:ADM)

Norges Bank acquired a new stake in Archer-Daniels-Midland Company (NYSE:ADM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,601,752 shares of the company's stock, valued at approximately $333,521,000. Norges Bank owned 1.38% of Archer-Daniels-Midland as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in ADM. AustralianSuper Pty Ltd boosted its position in Archer-Daniels-Midland by 26.4% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,730,182 shares of the company's stock valued at $87,409,000 after buying an additional 360,844 shares during the period. Amundi boosted its holdings in Archer-Daniels-Midland by 56.7% in the fourth quarter. Amundi now owns 2,473,393 shares of the company's stock valued at $123,340,000 after purchasing an additional 894,562 shares during the period. Hickory Point Bank & Trust acquired a new position in Archer-Daniels-Midland during the 4th quarter worth $1,217,000. Semanteon Capital Management LP purchased a new stake in Archer-Daniels-Midland during the 4th quarter worth about $614,000. Finally, Aigen Investment Management LP raised its position in Archer-Daniels-Midland by 127.7% in the 4th quarter. Aigen Investment Management LP now owns 46,950 shares of the company's stock valued at $2,372,000 after purchasing an additional 26,329 shares in the last quarter. Institutional investors and hedge funds own 78.28% of the company's stock.

Archer-Daniels-Midland Stock Performance

Shares of ADM stock traded down $0.27 during trading hours on Wednesday, hitting $47.94. The stock had a trading volume of 1,538,594 shares, compared to its average volume of 3,599,443. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.39 and a quick ratio of 0.81. The firm has a market capitalization of $23.00 billion, a PE ratio of 13.28, a PEG ratio of 1.54 and a beta of 0.67. The stock's 50 day moving average is $47.77 and its 200 day moving average is $51.97. Archer-Daniels-Midland Company has a twelve month low of $44.92 and a twelve month high of $66.08.

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Archer-Daniels-Midland (NYSE:ADM - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.07. The firm had revenue of $21.50 billion during 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%. Archer-Daniels-Midland's quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 EPS. As a group, research analysts forecast that Archer-Daniels-Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer-Daniels-Midland declared that its board has initiated a share buyback plan on Wednesday, December 11th that authorizes the company to repurchase 100,000,000 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically 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 was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.51 per share. The ex-dividend date was Tuesday, February 18th. This is an increase from Archer-Daniels-Midland's previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 4.26%. Archer-Daniels-Midland's dividend payout ratio is currently 56.51%.

Analysts Set New Price Targets

A number of analysts recently weighed in on ADM shares. BMO Capital Markets cut their target price on shares of Archer-Daniels-Midland from $51.00 to $49.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 5th. Bank of America decreased their price objective on shares of Archer-Daniels-Midland from $54.00 to $48.00 and set an "underperform" rating for the company in a research report on Tuesday, February 11th. Morgan Stanley cut their price target on Archer-Daniels-Midland from $52.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Stephens lowered their price objective on Archer-Daniels-Midland from $55.00 to $52.00 in a research report on Tuesday, February 4th. Finally, Citigroup increased their price target on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $53.63.

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.