Stifel Financial Corp Purchases 24,433 Shares of Archer Daniels Midland Co (NYSE:ADM)
Stifel Financial Corp lifted its position in Archer Daniels Midland Co (NYSE:ADM) by 10.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,729 shares of the company’s stock after buying an additional 24,433 shares during the period. Stifel Financial Corp’s holdings in Archer Daniels Midland were worth $10,746,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new position in Archer Daniels Midland in the 2nd quarter worth $31,000. Hartford Financial Management Inc. boosted its stake in Archer Daniels Midland by 125.0% in the 2nd quarter. Hartford Financial Management Inc. now owns 900 shares of the company’s stock worth $37,000 after purchasing an additional 500 shares during the period. Coastal Capital Group Inc. acquired a new position in Archer Daniels Midland in the 2nd quarter worth $41,000. Bartlett & Co. LLC boosted its stake in Archer Daniels Midland by 187.4% in the 3rd quarter. Bartlett & Co. LLC now owns 1,006 shares of the company’s stock worth $41,000 after purchasing an additional 656 shares during the period. Finally, Westside Investment Management Inc. acquired a new position in Archer Daniels Midland in the 2nd quarter worth $43,000. Institutional investors and hedge funds own 76.92% of the company’s stock.
In other news, VP John P. Stott sold 2,500 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $42.66, for a total transaction of $106,650.00. Following the completion of the transaction, the vice president now directly owns 32,201 shares in the company, valued at approximately $1,373,694.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.11% of the company’s stock.
Archer Daniels Midland (NYSE:ADM) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. Archer Daniels Midland had a net margin of 1.85% and a return on equity of 8.06%. The company had revenue of $16.73 billion during the quarter, compared to the consensus estimate of $16.18 billion. During the same period in the prior year, the business posted $0.92 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, sell-side analysts expect that Archer Daniels Midland Co will post 2.57 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.23%. Archer Daniels Midland’s dividend payout ratio is 40.00%.
A number of equities analysts recently weighed in on ADM shares. ValuEngine raised shares of Archer Daniels Midland from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st. Credit Suisse Group reduced their target price on shares of Archer Daniels Midland from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Stephens started coverage on shares of Archer Daniels Midland in a research note on Monday, October 7th. They issued an “overweight” rating and a $50.00 target price for the company. Finally, Robert W. Baird set a $48.00 target price on shares of Archer Daniels Midland and gave the stock a “buy” rating in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $48.43.
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. The company operates through four segments: Origination, Oilseeds, Carbohydrate Solutions, and Nutrition. It buys, stores, cleans, and transports agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, as well as resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry.
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