Strs Ohio boosted its holdings in Archer Daniels Midland Co (NYSE:ADM) by 7.2% in the 3rd quarter, Holdings Channel reports. The firm owned 55,444 shares of the company’s stock after buying an additional 3,710 shares during the quarter. Strs Ohio’s holdings in Archer Daniels Midland were worth $2,787,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in ADM. BlackRock Inc. increased its stake in Archer Daniels Midland by 8.7% in the second quarter. BlackRock Inc. now owns 45,957,560 shares of the company’s stock valued at $2,106,235,000 after purchasing an additional 3,694,727 shares during the last quarter. Northern Trust Corp increased its stake in Archer Daniels Midland by 13.1% in the second quarter. Northern Trust Corp now owns 11,824,020 shares of the company’s stock valued at $541,894,000 after purchasing an additional 1,369,242 shares during the last quarter. FMR LLC increased its stake in Archer Daniels Midland by 252.0% in the second quarter. FMR LLC now owns 1,126,191 shares of the company’s stock valued at $51,613,000 after purchasing an additional 806,287 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Archer Daniels Midland by 8.2% in the second quarter. Bank of New York Mellon Corp now owns 8,985,797 shares of the company’s stock valued at $411,820,000 after purchasing an additional 683,457 shares during the last quarter. Finally, Sabal Trust CO acquired a new position in Archer Daniels Midland in the third quarter valued at $26,206,000. Hedge funds and other institutional investors own 76.01% of the company’s stock.
In other Archer Daniels Midland news, VP John P. Stott sold 2,500 shares of the business’s stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $52.00, for a total transaction of $130,000.00. Following the completion of the sale, the vice president now owns 32,885 shares of the company’s stock, valued at $1,710,020. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph D. Taets sold 8,406 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $49.00, for a total value of $411,894.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,057 shares of company stock valued at $5,689,232. 0.94% of the stock is owned by company insiders.
Archer Daniels Midland (NYSE:ADM) last posted its quarterly earnings results on Tuesday, July 31st. The company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.25. Archer Daniels Midland had a return on equity of 9.19% and a net margin of 3.05%. The firm had revenue of $17.07 billion during the quarter, compared to the consensus estimate of $15.48 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, research analysts anticipate that Archer Daniels Midland Co will post 3.44 earnings per share for the current year.
ADM has been the subject of several analyst reports. Zacks Investment Research upgraded Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Wednesday, July 4th. Buckingham Research upped their target price on Archer Daniels Midland from $53.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Morgan Stanley upped their target price on Archer Daniels Midland from $33.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, August 3rd. Cleveland Research reiterated a “hold” rating on shares of Archer Daniels Midland in a research note on Monday, October 1st. Finally, BMO Capital Markets upped their target price on Archer Daniels Midland from $45.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, August 1st. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $47.62.
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. 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.
Read More: Average Daily Trade Volume – ADTV
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