Archer Daniels Midland Co (NYSE:ADM) Sees Large Increase in Short Interest

Archer Daniels Midland Co (NYSE:ADM) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 9,791,700 shares, a growth of 6.4% from the May 30th total of 9,202,500 shares. Based on an average daily volume of 3,660,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 1.8% of the shares of the company are short sold.

In related news, CEO Juan R. Luciano purchased 23,657 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was acquired at an average price of $42.30 per share, for a total transaction of $1,000,691.10. Following the completion of the purchase, the chief executive officer now directly owns 569,152 shares of the company’s stock, valued at $24,075,129.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ray G. Young purchased 6,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were bought at an average price of $42.76 per share, with a total value of $256,560.00. The disclosure for this purchase can be found here. 1.11% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of ADM. Comerica Securities Inc. grew its position in Archer Daniels Midland by 5.1% during the fourth quarter. Comerica Securities Inc. now owns 6,212 shares of the company’s stock valued at $255,000 after buying an additional 301 shares during the period. Bessemer Group Inc. grew its position in Archer Daniels Midland by 135.4% during the fourth quarter. Bessemer Group Inc. now owns 9,025 shares of the company’s stock valued at $369,000 after buying an additional 5,191 shares during the period. Dimensional Fund Advisors LP grew its position in Archer Daniels Midland by 6.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,382,794 shares of the company’s stock valued at $179,562,000 after buying an additional 246,133 shares during the period. Stifel Financial Corp grew its position in Archer Daniels Midland by 42.8% during the fourth quarter. Stifel Financial Corp now owns 317,595 shares of the company’s stock valued at $13,006,000 after buying an additional 95,258 shares during the period. Finally, Geode Capital Management LLC grew its position in Archer Daniels Midland by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 8,128,709 shares of the company’s stock valued at $332,509,000 after buying an additional 700,278 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Several research firms have recently commented on ADM. ValuEngine cut Wolverine World Wide from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. BMO Capital Markets increased their price objective on Discover Financial Services to $92.00 and gave the stock a “market perform” rating in a research report on Monday, April 29th. Zacks Investment Research cut Glu Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Stifel Nicolaus increased their price objective on FactSet Research Systems from $230.00 to $242.00 and gave the stock a “hold” rating in a research report on Wednesday, June 26th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $48.00 price objective (down previously from $54.00) on shares of Archer Daniels Midland in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $50.50.

NYSE:ADM opened at $40.82 on Wednesday. The business has a fifty day simple moving average of $40.62. The stock has a market capitalization of $23.33 billion, a PE ratio of 11.66 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.52 and a quick ratio of 0.85. Archer Daniels Midland has a 1 year low of $37.77 and a 1 year high of $52.06.

Archer Daniels Midland (NYSE:ADM) last released its quarterly earnings data on Friday, April 26th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.16). The business had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $16.19 billion. Archer Daniels Midland had a return on equity of 9.83% and a net margin of 2.57%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. Sell-side analysts anticipate that Archer Daniels Midland will post 3.16 EPS for the current fiscal year.

Archer Daniels Midland Company Profile

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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