247,362 Archer Daniels Midland Company $ADM Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its position in Archer Daniels Midland Company (NYSE:ADM) by 113.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 465,089 shares of the company’s stock after acquiring an additional 247,362 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Archer Daniels Midland were worth $36,919,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. 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 purchasing an additional 120 shares during the last quarter. William Mack & Associates Inc. bought a new stake in Archer Daniels Midland in the 3rd quarter worth about $25,000. Kelleher Financial Advisors purchased a new stake in Archer Daniels Midland in the 2nd quarter valued at about $25,000. Latitude Advisors LLC purchased a new stake in Archer Daniels Midland in the 3rd quarter valued at about $28,000. Finally, Orion Capital Management LLC purchased a new stake in Archer Daniels Midland in the 2nd quarter valued at about $27,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer Daniels Midland Price Performance

Archer Daniels Midland stock opened at $69.25 on Wednesday. The firm has a market capitalization of $32.96 billion, a P/E ratio of 13.50, a PEG ratio of 2.04 and a beta of 0.63. Archer Daniels Midland Company has a one year low of $56.02 and a one year high of $88.75. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.45 and a quick ratio of 0.88. The business has a fifty day moving average price of $80.62 and a 200-day moving average price of $76.57.

Archer Daniels Midland (NYSE:ADM) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.17. The company had revenue of $22.34 billion for the quarter, compared to analyst estimates of $23.27 billion. Archer Daniels Midland had a return on equity of 10.84% and a net margin of 2.95%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. As a group, equities research analysts forecast that Archer Daniels Midland Company will post 5.69 EPS for the current year.

Archer Daniels Midland Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Wednesday, November 18th will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, November 18th. This represents a $2.08 annualized dividend and a dividend yield of 3.0%. Archer Daniels Midland’s dividend payout ratio is currently 40.55%.

Wall Street Analyst Weigh In

Several equities analysts have commented on ADM shares. Wall Street Zen cut shares of Archer Daniels Midland from a “strong-buy” rating to a “buy” rating in a research report on Sunday. William Blair began coverage on shares of Archer Daniels Midland in a report on Tuesday, September 15th. They set a “buy” rating for the company. Jefferies Financial Group upped their price objective on Archer Daniels Midland from $88.00 to $89.00 in a research note on Monday, October 19th. Morgan Stanley upgraded Archer Daniels Midland from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $60.00 to $79.00 in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. upgraded Archer Daniels Midland from an “underweight” rating to a “neutral” rating and set a $75.00 price target for the company in a research note on Wednesday, November 4th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Archer Daniels Midland currently has an average rating of “Hold” and an average price target of $80.25.

Insider Buying and Selling at Archer Daniels Midland

In other news, Director R II purchased 2,800 shares of the stock in a transaction dated Thursday, November 5th. The shares were purchased at an average cost of $70.27 per share, with a total value of $196,756.00. Following the completion of the acquisition, the director owned 2,800 shares in the company, valued at $196,756. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

About Archer Daniels Midland

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.