Archer-Daniels-Midland Company (NYSE:ADM) Shares Sold by Procyon Advisors LLC

Posted by Defense World Staff on Jun 22nd, 2023

Procyon Advisors LLC decreased its stake in Archer-Daniels-Midland Company (NYSE:ADM – Get Rating) by 6.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,882 shares of the company’s stock after selling 202 shares during the period. Procyon Advisors LLC’s holdings in Archer-Daniels-Midland were worth $230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADM. Trust Co. of Vermont lifted its stake in shares of Archer-Daniels-Midland by 135.6% in the fourth quarter. Trust Co. of Vermont now owns 318 shares of the company’s stock valued at $30,000 after purchasing an additional 183 shares during the period. Glassy Mountain Advisors Inc. purchased a new position in Archer-Daniels-Midland during the 4th quarter valued at about $32,000. Exchange Traded Concepts LLC increased its holdings in Archer-Daniels-Midland by 655.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 393 shares of the company’s stock valued at $36,000 after acquiring an additional 341 shares in the last quarter. RFP Financial Group LLC purchased a new position in Archer-Daniels-Midland during the 4th quarter valued at about $36,000. Finally, Financial Management Professionals Inc. increased its holdings in Archer-Daniels-Midland by 275.5% during the 4th quarter. Financial Management Professionals Inc. now owns 398 shares of the company’s stock valued at $37,000 after acquiring an additional 292 shares in the last quarter. Institutional investors and hedge funds own 78.13% of the company’s stock.

Archer-Daniels-Midland Trading Down 0.8 %

NYSE ADM opened at $73.46 on Thursday. The company’s fifty day simple moving average is $75.27 and its 200-day simple moving average is $81.06. Archer-Daniels-Midland Company has a 52 week low of $69.92 and a 52 week high of $98.28. The company has a current ratio of 1.51, a quick ratio of 0.86 and a debt-to-equity ratio of 0.31. The stock has a market cap of $40.01 billion, a P/E ratio of 9.22, a PEG ratio of 1.73 and a beta of 0.81.

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

Archer-Daniels-Midland Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 7th. Investors of record on Wednesday, May 17th were paid a $0.45 dividend. The ex-dividend date was Tuesday, May 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.45%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 22.58%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ADM shares. 92 Resources reiterated a “maintains” rating on shares of Archer-Daniels-Midland in a report on Thursday, April 27th. Barclays decreased their target price on shares of Archer-Daniels-Midland from $99.00 to $95.00 in a research report on Thursday, June 1st. Morgan Stanley decreased their target price on shares of Archer-Daniels-Midland from $94.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 13th. StockNews.com began coverage on shares of Archer-Daniels-Midland in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of Archer-Daniels-Midland from $87.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 12th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Archer-Daniels-Midland currently has a consensus rating of “Moderate Buy” and an average target price of $100.33.

Archer-Daniels-Midland Profile

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Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. The company operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.