Cadence Capital Management LLC Buys 39,251 Shares of Archer-Daniels-Midland Company (ADM)
Cadence Capital Management LLC increased its position in Archer-Daniels-Midland Company (NYSE:ADM) by 37.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 145,406 shares of the company’s stock after buying an additional 39,251 shares during the period. Cadence Capital Management LLC’s holdings in Archer-Daniels-Midland were worth $6,017,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Archer-Daniels-Midland by 4.0% in the first quarter. Vanguard Group Inc. now owns 43,397,849 shares of the company’s stock worth $1,998,037,000 after buying an additional 1,672,627 shares during the last quarter. BlackRock Inc. boosted its position in shares of Archer-Daniels-Midland by 1,027.8% in the first quarter. BlackRock Inc. now owns 39,248,469 shares of the company’s stock worth $1,806,998,000 after buying an additional 35,768,331 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Archer-Daniels-Midland by 1.2% in the first quarter. Macquarie Group Ltd. now owns 16,974,063 shares of the company’s stock worth $781,486,000 after buying an additional 207,704 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Archer-Daniels-Midland by 5.7% in the first quarter. Geode Capital Management LLC now owns 5,327,074 shares of the company’s stock worth $244,894,000 after buying an additional 287,718 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Archer-Daniels-Midland by 16.6% in the first quarter. Victory Capital Management Inc. now owns 5,239,564 shares of the company’s stock worth $241,229,000 after buying an additional 745,593 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.
Shares of Archer-Daniels-Midland Company (ADM) traded up 0.497% on Monday, hitting $41.475. The stock had a trading volume of 347,538 shares. Archer-Daniels-Midland Company has a one year low of $40.22 and a one year high of $47.88. The firm has a 50 day moving average price of $41.72 and a 200 day moving average price of $43.23. The company has a market capitalization of $23.33 billion, a P/E ratio of 17.537 and a beta of 1.11.
Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.05. Archer-Daniels-Midland had a net margin of 2.22% and a return on equity of 8.40%. The company had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $15.86 billion. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Archer-Daniels-Midland’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities research analysts predict that Archer-Daniels-Midland Company will post $2.61 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 17th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $1.28 annualized dividend and a dividend yield of 3.10%. Archer-Daniels-Midland’s dividend payout ratio is 53.78%.
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A number of research analysts have recently weighed in on ADM shares. Argus downgraded Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a report on Thursday, June 1st. Citigroup Inc. reiterated a “buy” rating on shares of Archer-Daniels-Midland in a report on Wednesday, July 12th. Zacks Investment Research downgraded Archer-Daniels-Midland from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 31st. Vetr upgraded Archer-Daniels-Midland from a “buy” rating to a “strong-buy” rating and set a $46.76 price target on the stock in a report on Monday, May 22nd. Finally, BidaskClub upgraded Archer-Daniels-Midland from a “sell” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Archer-Daniels-Midland has a consensus rating of “Hold” and a consensus target price of $45.10.
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