Kingsview Wealth Management LLC Purchases 149,967 Shares of Archer Daniels Midland Company (NYSE:ADM)

Kingsview Wealth Management LLC grew its holdings in Archer Daniels Midland Company (NYSE:ADM) by 376.8% during the first quarter, Holdings Channel.com reports. The firm owned 189,766 shares of the company’s stock after acquiring an additional 149,967 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Archer Daniels Midland were worth $9,111,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ADM. Capital Advisors Ltd. LLC increased its holdings in shares of Archer Daniels Midland by 43.4% during the first quarter. Capital Advisors Ltd. LLC now owns 783 shares of the company’s stock worth $38,000 after buying an additional 237 shares in the last quarter. Sagespring Wealth Partners LLC lifted its position in shares of Archer Daniels Midland by 4.1% in the 1st quarter. Sagespring Wealth Partners LLC now owns 6,023 shares of the company’s stock worth $289,000 after purchasing an additional 239 shares during the period. Stolper Co lifted its position in shares of Archer Daniels Midland by 0.8% in the 1st quarter. Stolper Co now owns 33,691 shares of the company’s stock worth $1,618,000 after purchasing an additional 275 shares during the period. Horizon Investments LLC increased its stake in shares of Archer Daniels Midland by 3.5% in the 4th quarter. Horizon Investments LLC now owns 8,529 shares of the company’s stock valued at $431,000 after acquiring an additional 285 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its stake in shares of Archer Daniels Midland by 6.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,296 shares of the company’s stock valued at $254,000 after acquiring an additional 326 shares in the last quarter. 78.28% of the stock is currently owned by institutional investors and hedge funds.

Archer Daniels Midland Stock Down 0.7%

Shares of ADM opened at $53.60 on Friday. The firm has a market cap of $25.75 billion, a P/E ratio of 19.14, a PEG ratio of 3.01 and a beta of 0.69. The stock’s 50 day moving average is $51.26 and its two-hundred day moving average is $49.05. Archer Daniels Midland Company has a 12 month low of $40.98 and a 12 month high of $66.08. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34.

Archer Daniels Midland (NYSE:ADM) last posted its earnings results on Tuesday, May 6th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Archer Daniels Midland had a return on equity of 8.71% and a net margin of 1.63%. The company had revenue of $20.18 billion for the quarter, compared to the consensus estimate of $22.05 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Analysts predict that Archer Daniels Midland Company will post 4.31 earnings per share for the current fiscal year.

Archer Daniels Midland Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Wednesday, May 21st were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Wednesday, May 21st. Archer Daniels Midland’s payout ratio is currently 72.86%.

Analyst Upgrades and Downgrades

ADM has been the topic of a number of analyst reports. Citigroup cut their price objective on shares of Archer Daniels Midland from $51.00 to $49.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. UBS Group raised Archer Daniels Midland from a “neutral” rating to a “buy” rating and raised their price target for the stock from $55.00 to $60.00 in a research note on Monday, May 19th. Barclays raised their price target on Archer Daniels Midland from $48.00 to $50.00 and gave the company an “underweight” rating in a report on Wednesday, July 2nd. Finally, Bank of America downgraded Archer Daniels Midland from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $47.00 to $45.00 in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $52.25.

Archer Daniels Midland Company 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.