DNB Asset Management AS Acquires 4,579 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Posted by on Mar 21st, 2023

DNB Asset Management AS boosted its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM – Get Rating) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,728 shares of the company’s stock after purchasing an additional 4,579 shares during the period. DNB Asset Management AS’s holdings in Archer-Daniels-Midland were worth $13,995,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its stake in Archer-Daniels-Midland by 71.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 136 shares during the last quarter. Selective Wealth Management Inc. increased its holdings in shares of Archer-Daniels-Midland by 681.8% during the third quarter. Selective Wealth Management Inc. now owns 344 shares of the company’s stock worth $28,000 after buying an additional 300 shares in the last quarter. Glassy Mountain Advisors Inc. acquired a new position in shares of Archer-Daniels-Midland during the fourth quarter worth $32,000. Kistler Tiffany Companies LLC acquired a new position in shares of Archer-Daniels-Midland during the third quarter worth $29,000. Finally, Financial Management Professionals Inc. increased its holdings in shares of Archer-Daniels-Midland by 275.5% during the fourth quarter. Financial Management Professionals Inc. now owns 398 shares of the company’s stock worth $37,000 after buying an additional 292 shares in the last quarter. 78.23% of the stock is currently owned by institutional investors.

Archer-Daniels-Midland Stock Performance

NYSE ADM opened at $76.93 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.46 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $42.04 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 1.72 and a beta of 0.79. The stock has a fifty day simple moving average of $82.03 and a 200 day simple moving average of $87.52. Archer-Daniels-Midland Company has a twelve month low of $70.02 and a twelve month high of $98.88.

Archer-Daniels-Midland (NYSE:ADM – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.29. The business had revenue of $26.23 billion for the quarter, compared to analysts’ expectations of $25.37 billion. Archer-Daniels-Midland had a net margin of 4.26% and a return on equity of 18.32%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.50 earnings per share. Sell-side analysts expect that Archer-Daniels-Midland Company will post 6.74 EPS for the current year.

Archer-Daniels-Midland Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 2nd. Shareholders of record on Thursday, February 9th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, February 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.34%. This is a boost from Archer-Daniels-Midland’s previous quarterly dividend of $0.40. Archer-Daniels-Midland’s dividend payout ratio is 23.35%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ADM. UBS Group began coverage on shares of Archer-Daniels-Midland in a report on Tuesday, December 13th. They set a “buy” rating and a $115.00 price target for the company. Stifel Nicolaus upped their price target on shares of Archer-Daniels-Midland from $114.00 to $116.00 in a report on Tuesday, January 3rd. Finally, StockNews.com assumed coverage on shares of Archer-Daniels-Midland in a report on Thursday, March 16th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.71.

About Archer-Daniels-Midland

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Archer-Daniels-Midland Co engages in the production of oilseeds, corn, wheat, cocoa, and other agricultural commodities. It operates through the following segments: Ag Services and Oilseeds, Carbohydrate Solutions, Nutrition, and Other. The Ag Services and Oilseeds segment includes activities related to the origination, merchandising, transportation, and storage of agricultural raw materials, and the crushing and further processing of oilseeds such as soybeans and soft seeds cottonseed, sunflower seed, canola, rapeseed, and flaxseed into vegetable oils and protein meals.

See Also

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Institutional Ownership by Quarter for Archer-Daniels-Midland (NYSE:ADM)

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