Man Group plc Sells 688,779 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Man Group plc lowered its stake in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 85.7% during the fourth quarter, HoldingsChannel reports. The firm owned 115,304 shares of the company’s stock after selling 688,779 shares during the quarter. Man Group plc’s holdings in Archer-Daniels-Midland were worth $5,825,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairway Wealth LLC bought a new stake in shares of Archer-Daniels-Midland during the 4th quarter worth approximately $25,000. Raleigh Capital Management Inc. increased its holdings in shares of Archer-Daniels-Midland by 179.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 556 shares of the company’s stock worth $28,000 after acquiring an additional 357 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Archer-Daniels-Midland during the 4th quarter worth approximately $28,000. CoreFirst Bank & Trust acquired a new position in shares of Archer-Daniels-Midland during the 4th quarter worth approximately $30,000. Finally, Crews Bank & Trust acquired a new position in shares of Archer-Daniels-Midland during the 4th quarter worth approximately $30,000. Institutional investors own 78.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ADM. Barclays decreased their target price on Archer-Daniels-Midland from $50.00 to $48.00 and set an “underweight” rating on the stock in a report on Monday, February 24th. Citigroup decreased their target price on Archer-Daniels-Midland from $51.00 to $49.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Stephens decreased their target price on Archer-Daniels-Midland from $55.00 to $52.00 in a report on Tuesday, February 4th. BMO Capital Markets decreased their price objective on Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Finally, Bank of America lowered Archer-Daniels-Midland from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $47.00 to $45.00 in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $52.00.

Archer-Daniels-Midland Stock Performance

Shares of NYSE ADM opened at $50.20 on Wednesday. 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’s fifty day moving average price is $47.26 and its two-hundred day moving average price is $49.25. Archer-Daniels-Midland Company has a one year low of $40.98 and a one year high of $66.08. The firm has a market cap of $24.12 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 1.54 and a beta of 0.69.

Archer-Daniels-Midland (NYSE:ADM) last released its earnings results on Tuesday, May 6th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $20.18 billion for the quarter, compared to analyst estimates of $22.05 billion. Archer-Daniels-Midland had a return on equity of 10.44% and a net margin of 2.10%. Archer-Daniels-Midland’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 EPS. On average, equities analysts forecast that Archer-Daniels-Midland Company will post 4.31 EPS for the current year.

Archer-Daniels-Midland Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Wednesday, May 21st. Archer-Daniels-Midland’s dividend payout ratio (DPR) is currently 72.86%.

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.