Rhumbline Advisers increased its holdings in shares of Archer Daniels Midland Co (NYSE:ADM) by 2.0% in the fourth quarter, Holdings Channel reports. The fund owned 1,056,001 shares of the company’s stock after buying an additional 20,537 shares during the quarter. Rhumbline Advisers’ holdings in Archer Daniels Midland were worth $42,325,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of ADM. Hermes Investment Management Ltd. increased its holdings in Archer Daniels Midland by 6.1% during the 4th quarter. Hermes Investment Management Ltd. now owns 20,950 shares of the company’s stock worth $840,000 after purchasing an additional 1,200 shares during the period. First Manhattan Co. increased its holdings in Archer Daniels Midland by 23.3% during the 4th quarter. First Manhattan Co. now owns 6,609 shares of the company’s stock worth $264,000 after purchasing an additional 1,251 shares during the period. Nordea Investment Management AB increased its holdings in Archer Daniels Midland by 3.9% during the 3rd quarter. Nordea Investment Management AB now owns 34,489 shares of the company’s stock worth $1,466,000 after purchasing an additional 1,307 shares during the period. Eqis Capital Management Inc. increased its holdings in Archer Daniels Midland by 12.1% during the 3rd quarter. Eqis Capital Management Inc. now owns 12,640 shares of the company’s stock worth $537,000 after purchasing an additional 1,364 shares during the period. Finally, Xact Kapitalforvaltning AB increased its holdings in Archer Daniels Midland by 1.7% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 87,103 shares of the company’s stock worth $3,703,000 after purchasing an additional 1,423 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.
Archer Daniels Midland Co (ADM) opened at $43.13 on Tuesday. Archer Daniels Midland Co has a fifty-two week low of $38.59 and a fifty-two week high of $47.44. The stock has a market capitalization of $24,102.74, a price-to-earnings ratio of 15.40 and a beta of 1.11. The company has a debt-to-equity ratio of 0.36, a current ratio of 9.60 and a quick ratio of 0.91.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Tuesday, February 20th will be paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 3.11%. This is an increase from Archer Daniels Midland’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 16th. Archer Daniels Midland’s payout ratio is 45.71%.
Several research analysts have commented on the company. Zacks Investment Research upgraded Archer Daniels Midland from a “sell” rating to a “hold” rating in a report on Friday, February 9th. Robert W. Baird lifted their price target on Archer Daniels Midland from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Vertical Group upgraded Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Thursday, February 15th. Stephens upgraded Archer Daniels Midland from an “equal weight” rating to an “overweight” rating in a report on Wednesday, February 7th. Finally, Monness Crespi & Hardt started coverage on Archer Daniels Midland in a report on Tuesday, October 24th. They issued a “sell” rating and a $38.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $42.97.
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Archer Daniels Midland Profile
Archer-Daniels-Midland Company is a processor of oilseeds, corn, wheat, cocoa and other agricultural commodities. The Company manufactures protein meal, vegetable oil, corn sweeteners, flour, biodiesel, ethanol, and other food and feed ingredients. Its segments include Agricultural Services, which utilizes its United States grain elevator, global transportation network and port operations to buy, store, clean and transport agricultural commodities, such as oilseeds, wheat, milo, oats, rice and barley, and resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry; Corn Processing, which is engaged in corn wet milling and dry milling activities; Oilseeds Processing, which includes global activities related to the origination, merchandising, crushing and further processing of oilseeds; Wild Flavors and Specialty Ingredients products, which include flavors, sweeteners and health ingredients; Other, and Corporate.
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