Wells Fargo & Company MN increased its stake in Archer Daniels Midland Company (NYSE:ADM) by 21.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,794,862 shares of the company’s stock after purchasing an additional 320,308 shares during the period. Wells Fargo & Company MN owned approximately 0.32% of Archer Daniels Midland worth $76,299,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Manchester Capital Management LLC grew its position in Archer Daniels Midland by 28.3% in the second quarter. Manchester Capital Management LLC now owns 2,718 shares of the company’s stock valued at $112,000 after acquiring an additional 600 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co bought a new position in Archer Daniels Midland in the third quarter valued at about $202,000. Stratos Wealth Partners LTD. bought a new position in Archer Daniels Midland in the third quarter valued at about $212,000. Honkamp Krueger Financial Services Inc. bought a new position in Archer Daniels Midland in the third quarter valued at about $220,000. Finally, Raymond James Trust N.A. bought a new position in Archer Daniels Midland in the third quarter valued at about $230,000. Institutional investors own 75.94% of the company’s stock.
Shares of Archer Daniels Midland Company (NYSE:ADM) opened at $41.22 on Thursday. The firm has a market capitalization of $22,839.78, a PE ratio of 17.23 and a beta of 1.09. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.61. Archer Daniels Midland Company has a twelve month low of $38.59 and a twelve month high of $47.44.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Thursday, November 16th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Wednesday, November 15th. Archer Daniels Midland’s dividend payout ratio is currently 59.81%.
A number of research analysts have issued reports on the company. TheStreet cut Archer Daniels Midland from a “b-” rating to a “c+” rating in a research report on Tuesday, October 31st. Robert W. Baird reiterated a “buy” rating and issued a $47.00 target price on shares of Archer Daniels Midland in a research report on Wednesday, November 1st. BMO Capital Markets reduced their price target on Archer Daniels Midland from $41.00 to $36.00 and set a “market perform” rating on the stock in a report on Wednesday, November 1st. Monness Crespi & Hardt reduced their price target on Archer Daniels Midland from $38.00 to $37.00 and set a “sell” rating on the stock in a report on Wednesday, November 1st. Finally, Piper Jaffray Companies set a $39.00 price target on Archer Daniels Midland and gave the stock a “hold” rating in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $42.22.
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