Wedge Capital Management L L P NC Buys 6,484 Shares of Archer Daniels Midland Co (ADM)

Wedge Capital Management L L P NC boosted its stake in shares of Archer Daniels Midland Co (NYSE:ADM) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 202,261 shares of the company’s stock after buying an additional 6,484 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Archer Daniels Midland were worth $8,107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADM. Thrivent Financial For Lutherans lifted its holdings in Archer Daniels Midland by 3.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 21,528 shares of the company’s stock worth $891,000 after buying an additional 720 shares during the period. FMR LLC lifted its holdings in Archer Daniels Midland by 33.5% during the 2nd quarter. FMR LLC now owns 1,242,184 shares of the company’s stock worth $51,403,000 after buying an additional 311,918 shares during the period. Numeric Investors LLC acquired a new position in Archer Daniels Midland during the 2nd quarter worth about $265,000. QS Investors LLC lifted its holdings in Archer Daniels Midland by 1.2% during the 2nd quarter. QS Investors LLC now owns 47,681 shares of the company’s stock worth $1,973,000 after buying an additional 580 shares during the period. Finally, Royal Bank of Canada lifted its holdings in Archer Daniels Midland by 3.4% during the 2nd quarter. Royal Bank of Canada now owns 595,684 shares of the company’s stock worth $24,649,000 after buying an additional 19,773 shares during the period. 76.33% of the stock is currently owned by hedge funds and other institutional investors.

Archer Daniels Midland Co (NYSE:ADM) opened at $40.60 on Tuesday. The stock has a market capitalization of $23,169.74, a PE ratio of 18.97 and a beta of 1.11. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.61 and a quick ratio of 0.91. Archer Daniels Midland Co has a 52 week low of $38.59 and a 52 week high of $47.44.

A number of research analysts have recently issued reports on ADM shares. Piper Jaffray Companies set a $39.00 price objective on Archer Daniels Midland and gave the company a “hold” rating in a research note on Tuesday, October 31st. Monness Crespi & Hardt started coverage on Archer Daniels Midland in a research note on Tuesday, October 24th. They issued a “sell” rating and a $38.00 price objective on the stock. Robert W. Baird reissued a “buy” rating and issued a $47.00 price objective on shares of Archer Daniels Midland in a research note on Wednesday, November 1st. Stifel Nicolaus set a $45.00 price objective on Archer Daniels Midland and gave the company a “hold” rating in a research note on Wednesday, November 1st. Finally, Zacks Investment Research raised Archer Daniels Midland from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $41.97.

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Archer Daniels Midland Profile

Archer-Daniels-Midland Company is a processor of oilseeds, corn, wheat, cocoa and other agricultural commodities. The Company manufactures protein meal, vegetable oil, corn sweeteners, flour, biodiesel, ethanol, and other food and feed ingredients. Its segments include Agricultural Services, which utilizes its United States grain elevator, global transportation network and port operations to buy, store, clean and transport agricultural commodities, such as oilseeds, wheat, milo, oats, rice and barley, and resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry; Corn Processing, which is engaged in corn wet milling and dry milling activities; Oilseeds Processing, which includes global activities related to the origination, merchandising, crushing and further processing of oilseeds; Wild Flavors and Specialty Ingredients products, which include flavors, sweeteners and health ingredients; Other, and Corporate.

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Institutional Ownership by Quarter for Archer Daniels Midland (NYSE:ADM)

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