Ipswich Investment Management Co. Inc. Sells 1,500 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Ipswich Investment Management Co. Inc. lowered its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 16.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,450 shares of the company’s stock after selling 1,500 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Archer-Daniels-Midland were worth $445,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ADM. Harbor Capital Advisors Inc. bought a new position in Archer-Daniels-Midland in the third quarter worth about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Archer-Daniels-Midland in the third quarter worth $26,000. Riverview Trust Co bought a new stake in Archer-Daniels-Midland during the 2nd quarter valued at about $27,000. Altshuler Shaham Ltd bought a new stake in shares of Archer-Daniels-Midland during the second quarter valued at approximately $28,000. Finally, Crewe Advisors LLC purchased a new position in shares of Archer-Daniels-Midland in the first quarter worth $30,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ADM. Morgan Stanley lowered their price target on Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, UBS Group lifted their target price 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. One equities research analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $62.83.

Insider Activity

In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 3,683 shares of the company’s 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 sale, the chief executive officer now owns 265,210 shares in the company, valued at $16,177,810. This represents a 1.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 219,348 shares of company stock valued at $13,296,833 in the last quarter. Insiders own 1.20% of the company’s stock.

Archer-Daniels-Midland Trading Up 1.6 %

Shares of Archer-Daniels-Midland stock opened at $53.35 on Friday. Archer-Daniels-Midland Company has a twelve month low of $48.92 and a twelve month high of $77.35. The firm has a market capitalization of $25.51 billion, a PE ratio of 10.71 and a beta of 0.73. The firm’s 50-day moving average price is $57.24 and its 200 day moving average price is $59.76. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Archer-Daniels-Midland Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, November 21st. Archer-Daniels-Midland’s payout ratio is currently 40.16%.

Archer-Daniels-Midland 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.