Public Employees Retirement System of Ohio Buys 13,284 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Public Employees Retirement System of Ohio boosted its position in Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 5.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 256,521 shares of the company's stock after acquiring an additional 13,284 shares during the period. Public Employees Retirement System of Ohio owned 0.05% of Archer-Daniels-Midland worth $15,325,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Archer-Daniels-Midland in the 3rd quarter worth about $25,000. Ashton Thomas Securities LLC purchased a new position in shares of Archer-Daniels-Midland in the 3rd quarter valued at approximately $26,000. Altshuler Shaham Ltd bought a new stake in shares of Archer-Daniels-Midland during the second quarter valued at approximately $28,000. Peterson Financial Group Inc. bought a new position in Archer-Daniels-Midland in the third quarter worth $28,000. Finally, Sachetta LLC lifted its position in Archer-Daniels-Midland by 39.8% during the second quarter. Sachetta LLC now owns 737 shares of the company's stock valued at $46,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 78.28% of the company's stock.

Archer-Daniels-Midland Stock Performance

Shares of ADM stock traded up $0.87 on Wednesday, reaching $52.95. The stock had a trading volume of 3,627,190 shares, compared to its average volume of 4,154,111. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 1.40. Archer-Daniels-Midland Company has a 1 year low of $48.92 and a 1 year high of $77.35. The stock has a market cap of $25.34 billion, a P/E ratio of 15.10 and a beta of 0.72. The company has a 50 day simple moving average of $54.86 and a 200 day simple moving average of $58.80.

Archer-Daniels-Midland announced that its Board of Directors has approved a share buyback plan on Wednesday, December 11th that allows the company to buyback 100,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Archer-Daniels-Midland Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Thursday, November 21st. Archer-Daniels-Midland's payout ratio is currently 57.14%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ADM. BMO Capital Markets reduced their target price on shares of Archer-Daniels-Midland from $55.00 to $51.00 and set a "market perform" rating on the stock in a research report on Wednesday, December 4th. Morgan Stanley decreased their target price on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an "equal weight" rating for the company in a research note on Tuesday, November 12th. UBS Group boosted their price target on Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, September 9th. Citigroup raised their price objective on Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Finally, Stephens started coverage on Archer-Daniels-Midland in a report on Wednesday. They issued an "equal weight" rating and a $55.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $60.62.

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.