Summit Financial LLC Makes New $760,000 Investment in Archer-Daniels-Midland Company (NYSE:ADM)

Summit Financial LLC purchased a new position in shares of Archer-Daniels-Midland Company (NYSE:ADM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,035 shares of the company's stock, valued at approximately $760,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADM. AustralianSuper Pty Ltd boosted its holdings in Archer-Daniels-Midland by 26.4% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,730,182 shares of the company's stock valued at $87,409,000 after acquiring an additional 360,844 shares during the last quarter. Amundi lifted its stake in shares of Archer-Daniels-Midland by 56.7% in the 4th 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 in the last quarter. Hickory Point Bank & Trust acquired a new stake in Archer-Daniels-Midland during the 4th quarter worth approximately $1,217,000. Semanteon Capital Management LP acquired a new position in Archer-Daniels-Midland during the fourth quarter valued at approximately $614,000. Finally, Aigen Investment Management LP grew its stake in Archer-Daniels-Midland by 127.7% during the fourth quarter. Aigen Investment Management LP now owns 46,950 shares of the company's stock worth $2,372,000 after buying an additional 26,329 shares during the period. Hedge funds and other institutional investors own 78.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets lowered their target price on Archer-Daniels-Midland from $51.00 to $49.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Barclays cut their target price on shares of Archer-Daniels-Midland from $50.00 to $48.00 and set an "underweight" rating on the stock in a research note on Monday, February 24th. Bank of America lowered their price objective on Archer-Daniels-Midland from $54.00 to $48.00 and set an "underperform" rating for the company in a report on Tuesday, February 11th. Stephens reduced their target price on Archer-Daniels-Midland from $55.00 to $52.00 in a report on Tuesday, February 4th. Finally, Morgan Stanley dropped 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 report on Tuesday, February 11th. Two 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.com, the company currently has a consensus rating of "Hold" and a consensus target price of $53.63.

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Archer-Daniels-Midland Stock Performance

Archer-Daniels-Midland stock traded up $0.22 during mid-day trading on Monday, hitting $43.54. 2,138,584 shares of the company's stock traded hands, compared to its average volume of 3,605,322. Archer-Daniels-Midland Company has a one year low of $41.78 and a one year high of $66.08. The company has a market cap of $20.89 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.54 and a beta of 0.66. The firm has a 50 day moving average price of $47.51 and a 200 day moving average price of $51.67. The company has a quick ratio of 0.81, a current ratio of 1.39 and a debt-to-equity ratio of 0.34.

Archer-Daniels-Midland (NYSE:ADM - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.07. Archer-Daniels-Midland had a net margin of 2.10% and a return on equity of 10.44%. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $22.77 billion. During the same quarter last year, the business earned $1.36 earnings per share. The business's revenue for the quarter was down 6.4% on a year-over-year basis. On average, equities analysts forecast that Archer-Daniels-Midland Company will post 4.31 EPS for the current year.

Archer-Daniels-Midland announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that authorizes the company to buyback 100,000,000 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Archer-Daniels-Midland Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 4.68%. This is a boost from Archer-Daniels-Midland's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, February 18th. Archer-Daniels-Midland's dividend payout ratio (DPR) is presently 56.51%.

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.