Cambridge Financial Group Inc. trimmed its position in shares of Archer Daniels Midland Co (NYSE:ADM) by 0.7% during the first quarter, HoldingsChannel reports. The firm owned 135,058 shares of the company’s stock after selling 895 shares during the quarter. Archer Daniels Midland comprises 3.2% of Cambridge Financial Group Inc.’s portfolio, making the stock its 21st largest holding. Cambridge Financial Group Inc.’s holdings in Archer Daniels Midland were worth $4,751,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Firestone Capital Management bought a new position in shares of Archer Daniels Midland during the fourth quarter worth $188,000. Retirement Network bought a new position in shares of Archer Daniels Midland during the fourth quarter worth $33,000. Procyon Private Wealth Partners LLC bought a new position in shares of Archer Daniels Midland during the fourth quarter worth $33,000. Key Financial Inc bought a new position in shares of Archer Daniels Midland during the first quarter worth $28,000. Finally, Farmers & Merchants Investments Inc. boosted its position in shares of Archer Daniels Midland by 53.8% during the first quarter. Farmers & Merchants Investments Inc. now owns 900 shares of the company’s stock worth $32,000 after purchasing an additional 315 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.
In other news, Director Pierre Dufour acquired 1,070 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was bought at an average price of $35.20 per share, with a total value of $37,664.00. Following the transaction, the director now directly owns 7,700 shares in the company, valued at approximately $271,040. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Francisco J. Sanchez acquired 1,370 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was purchased at an average cost of $36.95 per share, with a total value of $50,621.50. Following the transaction, the director now owns 4,370 shares in the company, valued at $161,471.50. The disclosure for this purchase can be found here. 1.27% of the stock is currently owned by insiders.
A number of equities analysts have recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Archer Daniels Midland from $47.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, March 30th. Credit Suisse Group dropped their price objective on shares of Archer Daniels Midland from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Monness Crespi & Hardt upgraded shares of Archer Daniels Midland from a “sell” rating to a “neutral” rating and set a $38.00 price objective on the stock in a report on Monday, March 2nd. Zacks Investment Research lowered shares of Archer Daniels Midland from a “buy” rating to a “hold” rating and set a $37.00 price objective on the stock. in a report on Monday, April 6th. Finally, Robert W. Baird raised their price objective on shares of Archer Daniels Midland from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $43.13.
ADM stock traded up $0.26 during midday trading on Friday, hitting $35.38. The company’s stock had a trading volume of 1,745,704 shares, compared to its average volume of 2,837,733. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.51 and a quick ratio of 1.00. Archer Daniels Midland Co has a twelve month low of $28.92 and a twelve month high of $47.20. The company’s fifty day moving average price is $35.73 and its 200 day moving average price is $40.65. The stock has a market capitalization of $19.51 billion, a P/E ratio of 12.96 and a beta of 0.94.
Archer Daniels Midland (NYSE:ADM) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. Archer Daniels Midland had a net margin of 2.39% and a return on equity of 10.15%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.71 billion. During the same period in the previous year, the business earned $0.46 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. Equities analysts expect that Archer Daniels Midland Co will post 2.91 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $1.44 annualized dividend and a yield of 4.07%. Archer Daniels Midland’s payout ratio is currently 44.44%.
About Archer Daniels Midland
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. The company operates through four segments: Origination, Oilseeds, Carbohydrate Solutions, and Nutrition. It buys, stores, cleans, and transports agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, as well as resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry.
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