Legal & General Group Plc Has $148.58 Million Stake in Archer-Daniels-Midland Company (NYSE:ADM)

Legal & General Group Plc decreased its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 23.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,941,039 shares of the company’s stock after selling 925,545 shares during the quarter. Legal & General Group Plc’s holdings in Archer-Daniels-Midland were worth $148,581,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP increased its holdings in shares of Archer-Daniels-Midland by 19.1% in the third quarter. Quantinno Capital Management LP now owns 34,925 shares of the company’s stock worth $2,086,000 after acquiring an additional 5,607 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Archer-Daniels-Midland in the third quarter worth about $212,000. Orion Portfolio Solutions LLC increased its holdings in shares of Archer-Daniels-Midland by 15.2% in the third quarter. Orion Portfolio Solutions LLC now owns 33,602 shares of the company’s stock worth $2,007,000 after acquiring an additional 4,425 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Archer-Daniels-Midland by 5.5% in the third quarter. Public Employees Retirement System of Ohio now owns 256,521 shares of the company’s stock worth $15,325,000 after acquiring an additional 13,284 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Archer-Daniels-Midland by 52.0% in the third quarter. Barclays PLC now owns 1,502,158 shares of the company’s stock worth $89,738,000 after acquiring an additional 514,005 shares in the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.

Archer-Daniels-Midland Stock Up 6.1 %

Shares of NYSE:ADM opened at $44.35 on Thursday. The business’s 50-day moving average is $46.67 and its 200-day moving average is $51.17. Archer-Daniels-Midland Company has a 1 year low of $40.98 and a 1 year high of $66.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.39 and a quick ratio of 0.81. The company has a market capitalization of $21.28 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 1.54 and a beta of 0.66.

Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. The business had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $22.77 billion. Archer-Daniels-Midland had a return on equity of 10.44% and a net margin of 2.10%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.36 EPS. Equities research analysts predict that Archer-Daniels-Midland Company will post 4.31 earnings per share for the current year.

Archer-Daniels-Midland announced that its board has initiated a share buyback program on Wednesday, December 11th that permits the company to repurchase 100,000,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Archer-Daniels-Midland Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.51 per share. This is a positive change from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Tuesday, February 18th. Archer-Daniels-Midland’s payout ratio is currently 56.51%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADM. Bank of America lowered their price target on Archer-Daniels-Midland from $54.00 to $48.00 and set an “underperform” rating for the company in a report on Tuesday, February 11th. Stephens decreased their price objective on Archer-Daniels-Midland from $55.00 to $52.00 in a report on Tuesday, February 4th. Morgan Stanley decreased their price objective on Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Barclays decreased their price objective on Archer-Daniels-Midland from $50.00 to $48.00 and set an “underweight” rating for the company in a report on Monday, February 24th. Finally, BMO Capital Markets decreased their price objective on Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $53.63.

About Archer-Daniels-Midland

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.