PNC Financial Services Group Inc. Sells 27,447 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

PNC Financial Services Group Inc. lowered its position in Archer-Daniels-Midland Company (NYSE:ADM) by 14.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 166,171 shares of the company’s stock after selling 27,447 shares during the period. PNC Financial Services Group Inc.’s holdings in Archer-Daniels-Midland were worth $8,395,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Assetmark Inc. increased its position in shares of Archer-Daniels-Midland by 0.9% during the 3rd quarter. Assetmark Inc. now owns 114,149 shares of the company’s stock valued at $6,819,000 after purchasing an additional 1,043 shares during the last quarter. Sigma Planning Corp grew its position in Archer-Daniels-Midland by 4.8% during the third quarter. Sigma Planning Corp now owns 23,055 shares of the company’s stock valued at $1,377,000 after buying an additional 1,050 shares during the period. Crossmark Global Holdings Inc. increased its holdings in Archer-Daniels-Midland by 1.6% during the third quarter. Crossmark Global Holdings Inc. now owns 25,377 shares of the company’s stock valued at $1,516,000 after buying an additional 388 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Archer-Daniels-Midland in the third quarter worth approximately $26,000. Finally, Aigen Investment Management LP purchased a new position in shares of Archer-Daniels-Midland during the 3rd quarter worth $1,232,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Trading Down 3.9 %

Archer-Daniels-Midland stock opened at $48.62 on Wednesday. Archer-Daniels-Midland Company has a 1 year low of $44.92 and a 1 year high of $66.08. The firm’s 50 day moving average price is $48.80 and its 200-day moving average price is $53.35. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.39 and a quick ratio of 0.81. The stock has a market cap of $23.33 billion, a P/E ratio of 13.47, a PEG ratio of 1.54 and a beta of 0.67.

Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.07. Archer-Daniels-Midland had a net margin of 2.10% and a return on equity of 10.44%. The company had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $22.77 billion. During the same period in the previous year, the firm posted $1.36 EPS. Archer-Daniels-Midland’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities analysts predict that Archer-Daniels-Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer-Daniels-Midland Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a yield of 4.20%. Archer-Daniels-Midland’s dividend payout ratio is presently 56.51%.

Archer-Daniels-Midland announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that permits the company to buyback 100,000,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently commented on ADM. Bank of America decreased their target price on Archer-Daniels-Midland from $54.00 to $48.00 and set an “underperform” rating on the stock in a report on Tuesday, February 11th. Barclays decreased their price objective on Archer-Daniels-Midland from $50.00 to $48.00 and set an “underweight” rating on the stock in a research note on Monday, February 24th. BMO Capital Markets cut their price objective on Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Citigroup raised their target price on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley dropped their price target on shares of Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.89.

About Archer-Daniels-Midland

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.