Archer Daniels Midland (NYSE:ADM) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Archer Daniels Midland (NYSE:ADM) from a strong-buy rating to a buy rating in a report released on Sunday morning,Wall Street Zen reports.

ADM has been the subject of several other research reports. Morgan Stanley upgraded Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $60.00 to $79.00 in a report on Wednesday, August 5th. Jefferies Financial Group boosted their target price on Archer Daniels Midland from $88.00 to $89.00 in a research note on Monday, October 19th. Zacks Research downgraded Archer Daniels Midland from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Stephens reduced their target price on Archer Daniels Midland from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 4th. Finally, Weiss Ratings cut Archer Daniels Midland from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 28th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Archer Daniels Midland currently has an average rating of “Hold” and an average target price of $80.25.

Archer Daniels Midland Trading Down 0.8%

NYSE ADM opened at $69.25 on Friday. Archer Daniels Midland has a 52 week low of $56.02 and a 52 week high of $88.75. The company has a 50 day moving average price of $80.62 and a 200 day moving average price of $76.57. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.31. The firm has a market cap of $32.96 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 2.04 and a beta of 0.63.

Archer Daniels Midland (NYSE:ADM) last announced its earnings results on Tuesday, November 3rd. The company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.17. Archer Daniels Midland had a net margin of 2.95% and a return on equity of 10.84%. The company had revenue of $22.34 billion during the quarter, compared to the consensus estimate of $23.27 billion. During the same period last year, the firm earned $0.92 earnings per share. Archer Daniels Midland’s revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Archer Daniels Midland will post 5.69 EPS for the current fiscal year.

Archer Daniels Midland Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Wednesday, November 18th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.0%. Archer Daniels Midland’s dividend payout ratio (DPR) is currently 40.55%.

Insider Activity at Archer Daniels Midland

In related news, Director R II acquired 2,800 shares of the stock in a transaction dated Thursday, November 5th. The stock was acquired at an average cost of $70.27 per share, for a total transaction of $196,756.00. Following the completion of the purchase, the director owned 2,800 shares of the company’s stock, valued at approximately $196,756. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Archer Daniels Midland

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADM. Kelleher Financial Advisors acquired a new stake in shares of Archer Daniels Midland during the 2nd quarter worth approximately $25,000. Triumph Capital Management boosted its holdings in Archer Daniels Midland by 62.2% during the third quarter. Triumph Capital Management now owns 313 shares of the company’s stock worth $25,000 after buying an additional 120 shares in the last quarter. William Mack & Associates Inc. purchased a new stake in Archer Daniels Midland during the third quarter worth $25,000. Orion Capital Management LLC acquired a new stake in Archer Daniels Midland during the second quarter valued at $27,000. Finally, Latitude Advisors LLC acquired a new stake in Archer Daniels Midland during the third quarter valued at $28,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer Daniels Midland Company Profile

Archer Daniels Midland Company (NYSE: ADM) is a global agricultural supply chain and food ingredient company. It sources, transports, stores and processes crops, connecting farmers with food, feed, fuel and industrial markets. ADM processes commodities such as corn, oilseeds and wheat into products including vegetable oils, protein meals, flour, starches, sweeteners and other food ingredients. Its businesses also supply ingredients and solutions for human and animal nutrition, as well as products used in biofuels and other industrial applications.