Bank of New York Mellon Corp Grows Stake in Archer Daniels Midland Co (ADM)

Bank of New York Mellon Corp increased its stake in shares of Archer Daniels Midland Co (NYSE:ADM) by 8.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,985,797 shares of the company’s stock after purchasing an additional 683,457 shares during the period. Bank of New York Mellon Corp’s holdings in Archer Daniels Midland were worth $411,820,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp raised its holdings in shares of Archer Daniels Midland by 408.7% during the second quarter. MUFG Americas Holdings Corp now owns 2,676 shares of the company’s stock valued at $123,000 after purchasing an additional 2,150 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Archer Daniels Midland by 71.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 2,778 shares of the company’s stock valued at $127,000 after purchasing an additional 1,154 shares during the last quarter. Sun Life Financial INC raised its holdings in shares of Archer Daniels Midland by 2,206.7% during the second quarter. Sun Life Financial INC now owns 3,460 shares of the company’s stock valued at $159,000 after purchasing an additional 3,310 shares during the last quarter. JNBA Financial Advisors raised its holdings in shares of Archer Daniels Midland by 741.4% during the second quarter. JNBA Financial Advisors now owns 3,601 shares of the company’s stock valued at $165,000 after purchasing an additional 3,173 shares during the last quarter. Finally, MCF Advisors LLC raised its holdings in shares of Archer Daniels Midland by 100.4% during the second quarter. MCF Advisors LLC now owns 3,833 shares of the company’s stock valued at $171,000 after purchasing an additional 1,920 shares during the last quarter. 76.01% of the stock is owned by hedge funds and other institutional investors.

Shares of ADM stock opened at $47.01 on Tuesday. Archer Daniels Midland Co has a 12 month low of $38.59 and a 12 month high of $52.06. The company has a market cap of $26.01 billion, a price-to-earnings ratio of 19.35 and a beta of 1.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.59 and a quick ratio of 0.91.

Archer Daniels Midland (NYSE:ADM) last announced its earnings results on Tuesday, July 31st. The company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.25. Archer Daniels Midland had a net margin of 3.05% and a return on equity of 9.19%. The business had revenue of $17.07 billion during the quarter, compared to analysts’ expectations of $15.48 billion. During the same period in the prior year, the company earned $0.57 earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. As a group, research analysts predict that Archer Daniels Midland Co will post 3.44 earnings per share for the current year.

Several research analysts have recently weighed in on ADM shares. Zacks Investment Research raised shares of Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Wednesday, July 4th. JPMorgan Chase & Co. raised shares of Archer Daniels Midland from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $42.00 to $48.00 in a report on Monday, July 9th. Morgan Stanley upped their target price on shares of Archer Daniels Midland from $33.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, August 3rd. Buckingham Research upped their target price on shares of Archer Daniels Midland from $53.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Finally, Cleveland Research reaffirmed a “hold” rating on shares of Archer Daniels Midland in a report on Monday, October 1st. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $47.62.

In other news, VP John P. Stott sold 2,500 shares of the stock in a transaction on Monday, October 8th. The shares were sold at an average price of $52.00, for a total value of $130,000.00. Following the completion of the sale, the vice president now directly owns 32,885 shares of the company’s stock, valued at $1,710,020. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Ambrose Michael D sold 100,151 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $48.34, for a total transaction of $4,841,299.34. Following the completion of the sale, the senior vice president now directly owns 234,053 shares of the company’s stock, valued at $11,314,122.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,057 shares of company stock valued at $5,689,232. 0.94% of the stock is owned by corporate insiders.

Archer Daniels Midland Profile

Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. It operates through four segments: Carbohydrate Solutions, Nutrition, Oilseeds, and Origination. The company offers oilseeds, corn, wheat, milo, oats, rice, and barley; and structured trade finance, as well as processes wheat into wheat flour.

Further Reading: Market Capitalization in the Stock Market

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

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