Martingale Asset Management L P Has $1.77 Million Stake in Archer-Daniels-Midland Company (NYSE:ADM)

Martingale Asset Management L P lessened its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,614 shares of the company’s stock after selling 500 shares during the period. Martingale Asset Management L P’s holdings in Archer-Daniels-Midland were worth $1,769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADM. Empower Advisory Group LLC boosted its holdings in Archer-Daniels-Midland by 6.4% during the third quarter. Empower Advisory Group LLC now owns 1,138,455 shares of the company’s stock worth $68,011,000 after purchasing an additional 68,133 shares during the last quarter. Pacer Advisors Inc. lifted its position in Archer-Daniels-Midland by 6.4% during the 3rd quarter. Pacer Advisors Inc. now owns 8,086,446 shares of the company’s stock worth $483,084,000 after buying an additional 489,554 shares in the last quarter. Marathon Asset Management Ltd boosted its stake in shares of Archer-Daniels-Midland by 4.5% during the 3rd quarter. Marathon Asset Management Ltd now owns 303,155 shares of the company’s stock worth $18,110,000 after buying an additional 13,177 shares during the last quarter. CFS Investment Advisory Services LLC bought a new position in shares of Archer-Daniels-Midland in the 3rd quarter valued at about $1,526,000. Finally, Bank of Montreal Can increased its position in shares of Archer-Daniels-Midland by 8.6% in the third quarter. Bank of Montreal Can now owns 559,660 shares of the company’s stock valued at $33,580,000 after acquiring an additional 44,241 shares during the last quarter. Institutional investors and hedge funds own 78.28% of the company’s stock.

Archer-Daniels-Midland Price Performance

NYSE:ADM opened at $54.60 on Monday. The company has a market cap of $26.13 billion, a P/E ratio of 15.60 and a beta of 0.73. The firm’s fifty day moving average price is $55.89 and its two-hundred day moving average price is $59.24. Archer-Daniels-Midland Company has a one year low of $48.92 and a one year high of $77.35. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 0.84.

Archer-Daniels-Midland Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.50 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a yield of 3.66%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is currently 57.14%.

Insiders Place Their Bets

In other news, CEO Juan R. Luciano sold 170,194 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $60.51, for a total transaction of $10,298,438.94. Following the transaction, the chief executive officer now owns 265,210 shares in the company, valued at approximately $16,047,857.10. This trade represents a 39.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ADM shares. 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 research report on Tuesday, November 12th. UBS Group boosted their target price on shares of Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. One analyst has rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.83.

About Archer-Daniels-Midland

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.