Planning Capital Management Corp Raises Stake in Archer-Daniels-Midland Company (NYSE:ADM)

Planning Capital Management Corp grew its position in Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 26.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,578 shares of the company's stock after purchasing an additional 9,980 shares during the period. Archer-Daniels-Midland comprises about 1.9% of Planning Capital Management Corp's holdings, making the stock its 19th largest position. Planning Capital Management Corp's holdings in Archer-Daniels-Midland were worth $2,842,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. bought a new position in shares of Archer-Daniels-Midland during the third quarter valued at $25,000. Ashton Thomas Securities LLC bought a new position in Archer-Daniels-Midland in the 3rd quarter worth approximately $26,000. Riverview Trust Co acquired a new stake in shares of Archer-Daniels-Midland in the 2nd quarter valued at $27,000. Altshuler Shaham Ltd bought a new stake in shares of Archer-Daniels-Midland during the second quarter worth $28,000. Finally, Crewe Advisors LLC bought a new position in Archer-Daniels-Midland in the first quarter valued at about $30,000. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Juan R. Luciano sold 45,471 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $61.00, for a total transaction of $2,773,731.00. Following the transaction, the chief executive officer now directly owns 265,210 shares of the company's stock, valued at $16,177,810. This trade represents a 14.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 219,348 shares of company stock worth $13,296,833. 1.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ADM. JPMorgan Chase & Co. raised their price target on Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Morgan Stanley lowered their price target on Archer-Daniels-Midland from $57.00 to $52.00 and set an "equal weight" rating for the company in a report on Tuesday. Finally, UBS Group raised their price objective 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 analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to data from MarketBeat, Archer-Daniels-Midland presently has a consensus rating of "Hold" and an average target price of $62.83.

Archer-Daniels-Midland Trading Up 1.2 %

NYSE ADM traded up $0.64 on Thursday, reaching $52.51. The company had a trading volume of 2,129,961 shares, compared to its average volume of 4,245,657. The firm has a market cap of $25.11 billion, a price-to-earnings ratio of 10.42 and a beta of 0.73. Archer-Daniels-Midland Company has a fifty-two week low of $48.92 and a fifty-two week high of $77.35. The business has a 50 day moving average of $57.51 and a two-hundred day moving average of $59.86. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 0.88.

Archer-Daniels-Midland Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Thursday, November 21st. Archer-Daniels-Midland's dividend payout ratio (DPR) is presently 40.16%.

About Archer-Daniels-Midland

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.