Legacy Capital Group California Inc. Sells 581 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Legacy Capital Group California Inc. trimmed its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 3.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 14,746 shares of the company’s stock after selling 581 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Archer-Daniels-Midland were worth $881,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cherry Tree Wealth Management LLC purchased a new position in shares of Archer-Daniels-Midland during the 1st quarter worth approximately $27,000. Riverview Trust Co bought a new position in Archer-Daniels-Midland in the second quarter worth $27,000. Altshuler Shaham Ltd purchased a new position in Archer-Daniels-Midland during the second quarter valued at $28,000. Crewe Advisors LLC bought a new stake in shares of Archer-Daniels-Midland during the 1st quarter valued at $30,000. Finally, BOK Financial Private Wealth Inc. purchased a new stake in shares of Archer-Daniels-Midland in the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Stock Up 0.7 %

Shares of ADM opened at $56.50 on Friday. The business’s 50 day simple moving average is $59.31 and its 200-day simple moving average is $60.66. Archer-Daniels-Midland Company has a 1 year low of $50.72 and a 1 year high of $77.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 0.88. The stock has a market capitalization of $27.94 billion, a price-to-earnings ratio of 9.91 and a beta of 0.72.

Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.19). The company had revenue of $22.25 billion for the quarter, compared to analysts’ expectations of $23.12 billion. Archer-Daniels-Midland had a net margin of 2.93% and a return on equity of 12.06%. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter last year, the company earned $1.89 earnings per share. As a group, equities analysts expect that Archer-Daniels-Midland Company will post 5.33 earnings per share for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Wednesday, August 21st. Archer-Daniels-Midland’s dividend payout ratio is presently 35.09%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ADM shares. Citigroup lowered their target price on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a report on Monday, July 15th. UBS Group lifted their price objective on Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. raised their price target on Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $65.62.

Insider Buying and Selling

In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 45,471 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $61.00, for a total value of $2,773,731.00. Following the completion of the sale, the chief executive officer now directly owns 265,210 shares in the company, valued at approximately $16,177,810. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Juan R. Luciano sold 45,471 shares of Archer-Daniels-Midland stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $61.00, for a total value of $2,773,731.00. Following the completion of the sale, the chief executive officer now directly owns 265,210 shares in the company, valued at $16,177,810. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Juan R. Luciano sold 3,683 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $61.00, for a total transaction of $224,663.00. Following the transaction, the chief executive officer now owns 265,210 shares in the company, valued at approximately $16,177,810. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,348 shares of company stock valued at $13,296,833 over the last quarter. 1.20% of the stock is owned by corporate insiders.

Archer-Daniels-Midland Company Profile

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.