Royal London Asset Management Ltd. Invests $10.48 Million in Archer Daniels Midland Co (ADM)

Royal London Asset Management Ltd. purchased a new stake in Archer Daniels Midland Co (NYSE:ADM) in the second quarter, Holdings Channel reports. The firm purchased 228,559 shares of the company’s stock, valued at approximately $10,476,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADM. American Century Companies Inc. raised its position in shares of Archer Daniels Midland by 26.6% in the first quarter. American Century Companies Inc. now owns 19,635 shares of the company’s stock valued at $852,000 after buying an additional 4,126 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Archer Daniels Midland by 4.9% during the first quarter. Envestnet Asset Management Inc. now owns 74,127 shares of the company’s stock valued at $3,217,000 after purchasing an additional 3,493 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Archer Daniels Midland by 5.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 50,692 shares of the company’s stock valued at $2,199,000 after purchasing an additional 2,409 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in Archer Daniels Midland during the first quarter valued at approximately $1,753,000. Finally, Oppenheimer Asset Management Inc. raised its position in Archer Daniels Midland by 19.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 62,310 shares of the company’s stock valued at $2,702,000 after purchasing an additional 10,351 shares in the last quarter. Institutional investors own 75.78% of the company’s stock.

NYSE ADM opened at $50.32 on Monday. The firm has a market cap of $28.17 billion, a price-to-earnings ratio of 20.71 and a beta of 1.05. Archer Daniels Midland Co has a fifty-two week low of $38.59 and a fifty-two week high of $51.11. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32.

Archer Daniels Midland (NYSE:ADM) last posted its earnings results on Tuesday, July 31st. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. The firm had revenue of $17.07 billion for the quarter, compared to analysts’ expectations of $15.48 billion. Archer Daniels Midland had a net margin of 3.05% and a return on equity of 9.19%. The company’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. sell-side analysts predict that Archer Daniels Midland Co will post 3.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 6th. Shareholders of record on Thursday, August 16th were paid a dividend of $0.335 per share. The ex-dividend date of this dividend was Wednesday, August 15th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.66%. Archer Daniels Midland’s payout ratio is presently 55.14%.

In other Archer Daniels Midland news, insider Joseph D. Taets sold 2,153 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $51.00, for a total transaction of $109,803.00. Following the sale, the insider now owns 169,213 shares of the company’s stock, valued at $8,629,863. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Ambrose Michael D sold 100,151 shares of the business’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $48.34, for a total transaction of $4,841,299.34. Following the sale, the senior vice president now directly owns 234,053 shares in the company, valued at approximately $11,314,122.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 123,312 shares of company stock worth $5,987,697. Insiders own 0.94% of the company’s stock.

Several research analysts have commented on the stock. Stephens restated an “overweight” rating on shares of Archer Daniels Midland in a research report on Thursday, August 16th. BMO Capital Markets boosted their price objective on shares of Archer Daniels Midland from $45.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, August 1st. Buckingham Research boosted their price objective on shares of Archer Daniels Midland from $53.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Morgan Stanley boosted their price objective on shares of Archer Daniels Midland from $33.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, August 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Archer Daniels Midland from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $42.00 to $48.00 in a research report on Monday, July 9th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $47.62.

Archer Daniels Midland Profile

Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. It operates through four segments: Carbohydrate Solutions, Nutrition, Oilseeds, and Origination. The company offers oilseeds, corn, wheat, milo, oats, rice, and barley; and structured trade finance, as well as processes wheat into wheat flour.

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Institutional Ownership by Quarter for Archer Daniels Midland (NYSE:ADM)

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