Toronto Dominion Bank Raises Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

Toronto Dominion Bank raised its position in shares of Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 255,148 shares of the company's stock after purchasing an additional 13,320 shares during the quarter. Toronto Dominion Bank owned 0.05% of Archer-Daniels-Midland worth $15,243,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Empower Advisory Group LLC increased its holdings in Archer-Daniels-Midland by 6.4% in the 3rd quarter. Empower Advisory Group LLC now owns 1,138,455 shares of the company's stock worth $68,011,000 after buying an additional 68,133 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Archer-Daniels-Midland by 6.4% in the 3rd quarter. Pacer Advisors Inc. now owns 8,086,446 shares of the company's stock valued at $483,084,000 after acquiring an additional 489,554 shares during the last quarter. Marathon Asset Management Ltd increased its stake in shares of Archer-Daniels-Midland by 4.5% in the third quarter. Marathon Asset Management Ltd now owns 303,155 shares of the company's stock worth $18,110,000 after acquiring an additional 13,177 shares during the period. CFS Investment Advisory Services LLC purchased a new position in shares of Archer-Daniels-Midland during the third quarter worth $1,526,000. Finally, Bank of Montreal Can lifted its position in Archer-Daniels-Midland by 8.6% during the third quarter. Bank of Montreal Can now owns 559,660 shares of the company's stock valued at $33,580,000 after purchasing an additional 44,241 shares during the period. 78.28% of the stock is owned by institutional investors and hedge funds.

Archer-Daniels-Midland Price Performance

ADM stock traded down $0.67 during midday trading on Friday, reaching $52.41. The stock had a trading volume of 2,378,778 shares, compared to its average volume of 4,141,109. Archer-Daniels-Midland Company has a 52-week low of $48.92 and a 52-week high of $77.35. The company has a market cap of $25.08 billion, a price-to-earnings ratio of 14.91 and a beta of 0.72. The company's fifty day simple moving average is $54.64 and its 200 day simple moving average is $58.72. The company has a current ratio of 1.40, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34.

Archer-Daniels-Midland declared that its board has approved a stock repurchase program on Wednesday, December 11th that authorizes the company to buyback 100,000,000 outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Archer-Daniels-Midland Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.00 annualized dividend and a dividend yield of 3.82%. Archer-Daniels-Midland's dividend payout ratio is presently 57.14%.

Analyst Upgrades and Downgrades

ADM has been the subject of a number of recent research reports. Barclays reduced their price objective on Archer-Daniels-Midland from $60.00 to $56.00 and set an "underweight" rating for the company in a research note on Wednesday, December 4th. Stephens initiated coverage on Archer-Daniels-Midland in a research report on Wednesday. They set an "equal weight" rating and a $55.00 price target for the company. Citigroup upped their price objective on Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. BMO Capital Markets decreased their target price on shares of Archer-Daniels-Midland from $55.00 to $51.00 and set a "market perform" rating for the company in a research note on Wednesday, December 4th. Finally, UBS Group raised their price target on shares of Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $60.62.

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.