Worldquant Millennium Advisors LLC lowered its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 78.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,101 shares of the company's stock after selling 661,537 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Archer-Daniels-Midland were worth $10,759,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of ADM. Focused Wealth Management Inc boosted its stake in shares of Archer-Daniels-Midland by 3.3% in the 2nd quarter. Focused Wealth Management Inc now owns 5,338 shares of the company's stock worth $323,000 after buying an additional 169 shares during the last quarter. Accordant Advisory Group Inc boosted its position in Archer-Daniels-Midland by 0.8% in the second quarter. Accordant Advisory Group Inc now owns 23,462 shares of the company's stock worth $1,418,000 after purchasing an additional 176 shares during the last quarter. Legacy Capital Group California Inc. grew its stake in Archer-Daniels-Midland by 1.2% in the 2nd quarter. Legacy Capital Group California Inc. now owns 15,327 shares of the company's stock valued at $927,000 after purchasing an additional 181 shares during the period. Lake Street Advisors Group LLC increased its position in shares of Archer-Daniels-Midland by 4.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 4,015 shares of the company's stock valued at $240,000 after purchasing an additional 183 shares during the last quarter. Finally, OLD National Bancorp IN raised its stake in shares of Archer-Daniels-Midland by 0.9% during the 3rd quarter. OLD National Bancorp IN now owns 20,648 shares of the company's stock worth $1,234,000 after purchasing an additional 189 shares during the period. 78.28% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on ADM shares. Morgan Stanley reduced their price target on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an "equal weight" rating for the company in a research report on Tuesday, November 12th. Citigroup lifted their price target on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday. UBS Group increased their price objective on Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Monday, September 9th. BMO Capital Markets lowered their target price on Archer-Daniels-Midland from $55.00 to $51.00 and set a "market perform" rating on the stock in a research note on Wednesday. Finally, Barclays cut their price target on Archer-Daniels-Midland from $60.00 to $56.00 and set an "underweight" rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $61.08.
Read Our Latest Research Report on Archer-Daniels-Midland
Archer-Daniels-Midland Price Performance
Archer-Daniels-Midland stock traded down $0.86 during midday trading on Friday, reaching $51.42. 2,766,682 shares of the stock were exchanged, compared to its average volume of 2,943,136. The company's fifty day moving average is $55.17 and its 200-day moving average is $58.95. 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 52 week low of $48.92 and a 52 week high of $77.35. The firm has a market cap of $24.61 billion, a PE ratio of 14.69 and a beta of 0.72.
Archer-Daniels-Midland Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a $0.50 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.89%. Archer-Daniels-Midland's dividend payout ratio (DPR) is presently 57.14%.
Archer-Daniels-Midland Profile
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Free Report)
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.
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