CIBC Private Wealth Group LLC Raises Stock Position in Archer-Daniels-Midland Company (NYSE:ADM)

Posted by on Jun 7th, 2023

CIBC Private Wealth Group LLC raised its stake in Archer-Daniels-Midland Company (NYSE:ADM – Get Rating) by 22.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,151 shares of the company’s stock after buying an additional 937 shares during the period. CIBC Private Wealth Group LLC’s holdings in Archer-Daniels-Midland were worth $478,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Kistler Tiffany Companies LLC acquired a new stake in shares of Archer-Daniels-Midland in the third quarter valued at approximately $29,000. Trust Co. of Vermont boosted its position in Archer-Daniels-Midland by 135.6% during the fourth quarter. Trust Co. of Vermont now owns 318 shares of the company’s stock worth $30,000 after acquiring an additional 183 shares during the last quarter. Glassy Mountain Advisors Inc. acquired a new stake in Archer-Daniels-Midland during the fourth quarter worth approximately $32,000. Exchange Traded Concepts LLC boosted its position in Archer-Daniels-Midland by 655.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 393 shares of the company’s stock worth $36,000 after acquiring an additional 341 shares during the last quarter. Finally, RFP Financial Group LLC purchased a new position in Archer-Daniels-Midland during the fourth quarter worth approximately $36,000. 78.23% of the stock is owned by hedge funds and other institutional investors.

Archer-Daniels-Midland Stock Up 1.6 %

NYSE ADM opened at $72.39 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 0.86. The company’s 50 day simple moving average is $76.59 and its 200 day simple moving average is $82.66. Archer-Daniels-Midland Company has a 12 month low of $69.92 and a 12 month high of $98.28. The company has a market capitalization of $39.43 billion, a P/E ratio of 9.08, a PEG ratio of 1.65 and a beta of 0.81.

Archer-Daniels-Midland (NYSE:ADM – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.38. Archer-Daniels-Midland had a return on equity of 18.39% and a net margin of 4.36%. The business had revenue of $24.07 billion for the quarter, compared to the consensus estimate of $24.09 billion. During the same quarter in the previous year, the company posted $1.90 earnings per share. Archer-Daniels-Midland’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts expect that Archer-Daniels-Midland Company will post 6.84 earnings per share for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 7th. Shareholders of record on Wednesday, May 17th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, May 16th. This represents a $1.80 annualized dividend and a yield of 2.49%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 22.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Robert W. Baird cut their price target on shares of Archer-Daniels-Midland from $98.00 to $90.00 in a research note on Wednesday, April 26th. 92 Resources reaffirmed a “maintains” rating on shares of Archer-Daniels-Midland in a research note on Thursday, April 27th. StockNews.com assumed coverage on shares of Archer-Daniels-Midland in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Barclays cut their target price on shares of Archer-Daniels-Midland from $99.00 to $95.00 in a research note on Thursday, June 1st. Finally, Morgan Stanley decreased their price objective on shares of Archer-Daniels-Midland from $94.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, April 13th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Archer-Daniels-Midland has an average rating of “Moderate Buy” and a consensus target price of $100.33.

Archer-Daniels-Midland Company Profile

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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.

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

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