Summit Financial LLC Makes New $760,000 Investment in Archer-Daniels-Midland Company (NYSE:ADM)

Summit Financial LLC purchased a new stake in Archer-Daniels-Midland Company (NYSE:ADM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,035 shares of the company’s stock, valued at approximately $760,000.

Other hedge funds have also modified their holdings of the company. AustralianSuper Pty Ltd increased its position in Archer-Daniels-Midland by 26.4% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,730,182 shares of the company’s stock worth $87,409,000 after buying an additional 360,844 shares in the last quarter. Amundi increased its position in Archer-Daniels-Midland by 56.7% during the 4th quarter. Amundi now owns 2,473,393 shares of the company’s stock worth $123,340,000 after purchasing an additional 894,562 shares in the last quarter. Hickory Point Bank & Trust purchased a new position in Archer-Daniels-Midland in the 4th quarter valued at about $1,217,000. Semanteon Capital Management LP acquired a new stake in shares of Archer-Daniels-Midland during the 4th quarter worth about $614,000. Finally, Aigen Investment Management LP grew its holdings in shares of Archer-Daniels-Midland by 127.7% during the fourth quarter. Aigen Investment Management LP now owns 46,950 shares of the company’s stock worth $2,372,000 after buying an additional 26,329 shares in the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on ADM shares. Morgan Stanley decreased their target price on shares of Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Citigroup lifted their price objective on Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Bank of America reduced their target price on Archer-Daniels-Midland from $54.00 to $48.00 and set an “underperform” rating on the stock in a research report on Tuesday, February 11th. BMO Capital Markets lowered their price target on Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Finally, Stephens decreased their target price on shares of Archer-Daniels-Midland from $55.00 to $52.00 in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $53.63.

Archer-Daniels-Midland Stock Down 0.5 %

ADM opened at $47.97 on Thursday. Archer-Daniels-Midland Company has a 1 year low of $44.92 and a 1 year high of $66.08. The firm has a 50 day moving average price of $47.72 and a 200 day moving average price of $51.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.39. The company has a market cap of $23.01 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 1.54 and a beta of 0.67.

Archer-Daniels-Midland (NYSE:ADM) last issued its earnings results on Tuesday, February 4th. The company reported $1.14 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 business had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $22.77 billion. During the same quarter last year, the firm posted $1.36 EPS. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. Sell-side analysts expect that Archer-Daniels-Midland Company will post 4.31 earnings per share for the current year.

Archer-Daniels-Midland Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were given a $0.51 dividend. This is an increase from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, February 18th. This represents a $2.04 annualized dividend and a dividend yield of 4.25%. Archer-Daniels-Midland’s dividend payout ratio is presently 56.51%.

Archer-Daniels-Midland declared that its board has approved a stock repurchase program on Wednesday, December 11th that authorizes the company to buyback 100,000,000 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Archer-Daniels-Midland Profile

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.