Global Trust Asset Management LLC acquired a new stake in shares of Archer Daniels Midland Co (NYSE:ADM) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,609 shares of the company’s stock, valued at approximately $131,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its holdings in shares of Archer Daniels Midland by 34.9% during the third quarter. Nisa Investment Advisors LLC now owns 242,305 shares of the company’s stock valued at $12,181,000 after acquiring an additional 62,732 shares during the period. Sabal Trust CO bought a new position in shares of Archer Daniels Midland in the third quarter valued at about $26,206,000. Raymond James Trust N.A. raised its holdings in shares of Archer Daniels Midland by 12.8% in the third quarter. Raymond James Trust N.A. now owns 9,653 shares of the company’s stock valued at $485,000 after buying an additional 1,097 shares during the last quarter. Andra AP fonden raised its holdings in shares of Archer Daniels Midland by 43.4% in the third quarter. Andra AP fonden now owns 161,600 shares of the company’s stock valued at $8,124,000 after buying an additional 48,900 shares during the last quarter. Finally, First Hawaiian Bank bought a new position in shares of Archer Daniels Midland in the third quarter valued at about $1,392,000. 75.83% of the stock is owned by institutional investors.
A number of research firms recently issued reports on ADM. Stephens reaffirmed an “overweight” rating on shares of Archer Daniels Midland in a report on Thursday, August 16th. Cleveland Research reaffirmed a “hold” rating on shares of Archer Daniels Midland in a report on Monday, October 1st. Morgan Stanley lifted their price target on Archer Daniels Midland from $33.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, August 3rd. BMO Capital Markets lifted their price target on Archer Daniels Midland from $45.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, August 1st. Finally, Buckingham Research lifted their price target on Archer Daniels Midland from $53.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $47.62.
Shares of NYSE:ADM opened at $49.30 on Wednesday. The stock has a market cap of $28.14 billion, a price-to-earnings ratio of 20.29 and a beta of 1.04. Archer Daniels Midland Co has a 1-year low of $38.59 and a 1-year high of $52.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.59 and a quick ratio of 0.91.
Archer Daniels Midland (NYSE:ADM) last announced its quarterly earnings data on Tuesday, July 31st. The company reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.25. The firm had revenue of $17.07 billion during the quarter, compared to analysts’ expectations of $15.48 billion. Archer Daniels Midland had a return on equity of 9.19% and a net margin of 3.05%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS. As a group, sell-side analysts expect that Archer Daniels Midland Co will post 3.43 EPS for the current year.
About Archer Daniels Midland
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.
Recommended Story: Intrinsic Value and Stock Selection
Want to see what other hedge funds are holding ADM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Archer Daniels Midland Co (NYSE:ADM).
Receive News & Ratings for Archer Daniels Midland Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer Daniels Midland and related companies with MarketBeat.com's FREE daily email newsletter.