Archer Daniels Midland Sees Unusually Large Options Volume (NYSE:ADM)
Archer Daniels Midland Co (NYSE:ADM) was the recipient of unusually large options trading on Monday. Stock traders bought 4,573 call options on the stock. This is an increase of 70% compared to the typical volume of 2,690 call options.
A number of research firms recently weighed in on ADM. Barclays began coverage on Archer Daniels Midland in a report on Tuesday, June 30th. They issued an “overweight” rating and a $52.00 price target for the company. Credit Suisse Group cut Archer Daniels Midland from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $40.00 to $39.00 in a report on Monday, July 27th. Stephens started coverage on Archer Daniels Midland in a report on Thursday, July 9th. They set a “buy” rating and a $52.00 target price for the company. Seaport Global Securities started coverage on Archer Daniels Midland in a report on Tuesday, July 28th. They set a “buy” rating and a $51.00 target price for the company. Finally, Stifel Nicolaus reduced their target price on Archer Daniels Midland from $48.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $44.67.
Shares of ADM traded up $0.30 on Wednesday, reaching $47.77. The stock had a trading volume of 138,177 shares, compared to its average volume of 2,714,595. The firm has a market capitalization of $26.39 billion, a PE ratio of 15.21 and a beta of 0.96. The company has a quick ratio of 1.12, a current ratio of 1.72 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average of $44.46 and a 200 day moving average of $39.16. Archer Daniels Midland has a twelve month low of $28.92 and a twelve month high of $47.90.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Wednesday, August 19th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Tuesday, August 18th. Archer Daniels Midland’s payout ratio is currently 44.44%.
In other Archer Daniels Midland news, Director Pierre Dufour bought 1,025 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were purchased at an average cost of $46.10 per share, for a total transaction of $47,252.50. Following the purchase, the director now directly owns 18,800 shares in the company, valued at $866,680. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Gregory A. Morris sold 4,491 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $44.00, for a total value of $197,604.00. Following the transaction, the senior vice president now owns 188,821 shares in the company, valued at $8,308,124. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,754 shares of company stock valued at $1,328,902. Corporate insiders own 1.27% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Ellevest Inc. purchased a new stake in Archer Daniels Midland in the second quarter worth $28,000. FinTrust Capital Advisors LLC increased its stake in Archer Daniels Midland by 62.5% during the first quarter. FinTrust Capital Advisors LLC now owns 853 shares of the company’s stock worth $30,000 after acquiring an additional 328 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Archer Daniels Midland in the first quarter valued at $33,000. Ovata Capital Management Ltd acquired a new stake in shares of Archer Daniels Midland in the second quarter valued at $33,000. Finally, Harbor Investment Advisory LLC grew its stake in shares of Archer Daniels Midland by 116,800.0% in the first quarter. Harbor Investment Advisory LLC now owns 1,169 shares of the company’s stock valued at $41,000 after buying an additional 1,168 shares in the last quarter. 76.67% of the stock is currently owned by hedge funds and other institutional investors.
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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