Canada Pension Plan Investment Board increased its position in Archer-Daniels-Midland Company (NYSE:ADM) by 333.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,270,430 shares of the company’s stock after buying an additional 1,746,628 shares during the quarter. Canada Pension Plan Investment Board owned 0.40% of Archer-Daniels-Midland worth $96,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in ADM. FMR LLC lifted its position in Archer-Daniels-Midland by 3.9% in the 1st quarter. FMR LLC now owns 930,266 shares of the company’s stock worth $42,829,000 after buying an additional 34,989 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in Archer-Daniels-Midland by 3.9% in the 1st quarter. Thrivent Financial For Lutherans now owns 20,808 shares of the company’s stock worth $958,000 after buying an additional 790 shares during the last quarter. Bank of Nova Scotia lifted its position in Archer-Daniels-Midland by 907.7% in the 1st quarter. Bank of Nova Scotia now owns 131,344 shares of the company’s stock worth $6,047,000 after buying an additional 118,310 shares during the last quarter. Achmea Investment Management B.V. bought a new stake in Archer-Daniels-Midland in the 1st quarter worth approximately $6,387,000. Finally, Jacobi Capital Management LLC lifted its position in Archer-Daniels-Midland by 7.9% in the 1st quarter. Jacobi Capital Management LLC now owns 5,595 shares of the company’s stock worth $253,000 after buying an additional 410 shares during the last quarter. Institutional investors own 72.57% of the company’s stock.
Several analysts have weighed in on ADM shares. Credit Suisse Group lowered their price objective on Archer-Daniels-Midland from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, August 31st. Citigroup Inc. downgraded Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $42.25 to $45.00 in a research report on Thursday, September 28th. Robert W. Baird started coverage on Archer-Daniels-Midland in a research report on Monday, September 11th. They issued an “outperform” rating and a $50.00 price objective for the company. Piper Jaffray Companies set a $42.00 price objective on Archer-Daniels-Midland and gave the company a “hold” rating in a research report on Sunday, October 1st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 price objective (up previously from $40.00) on shares of Archer-Daniels-Midland in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $41.53.
Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.10). The business had revenue of $14.83 billion for the quarter, compared to the consensus estimate of $16 billion. Archer-Daniels-Midland had a return on equity of 7.86% and a net margin of 2.01%. Archer-Daniels-Midland’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Thursday, November 16th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Wednesday, November 15th. Archer-Daniels-Midland’s payout ratio is 59.81%.
TRADEMARK VIOLATION NOTICE: This story was first reported by Community Financial News and is the property of of Community Financial News. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://www.com-unik.info/2017/11/03/canada-pension-plan-investment-board-purchases-1746628-shares-of-archer-daniels-midland-company-adm.html.
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 Company (NYSE:ADM).
What are top analysts saying about Archer-Daniels-Midland Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Archer-Daniels-Midland Company and related companies.