Massachusetts Financial Services Co. MA Decreases Stake in Archer-Daniels-Midland Company (NYSE:ADM)

Massachusetts Financial Services Co. MA lowered its position in Archer-Daniels-Midland Company (NYSE:ADM) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 394,087 shares of the company’s stock after selling 2,738 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.08% of Archer-Daniels-Midland worth $23,543,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Archer-Daniels-Midland during the 3rd quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Archer-Daniels-Midland during the 3rd quarter worth approximately $26,000. Riverview Trust Co purchased a new stake in shares of Archer-Daniels-Midland during the 2nd quarter worth approximately $27,000. Altshuler Shaham Ltd purchased a new stake in shares of Archer-Daniels-Midland during the 2nd quarter worth approximately $28,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Archer-Daniels-Midland during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Insider Activity

In other news, CEO Juan R. Luciano sold 45,471 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $61.00, for a total transaction of $2,773,731.00. Following the completion of the transaction, the chief executive officer now owns 265,210 shares of the company’s stock, valued at $16,177,810. This represents a 14.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 219,348 shares of company stock valued at $13,296,833 in the last 90 days. 1.20% of the stock is currently owned by insiders.

Archer-Daniels-Midland Price Performance

NYSE:ADM opened at $53.01 on Tuesday. The firm has a market cap of $25.37 billion, a price-to-earnings ratio of 15.15 and a beta of 0.73. The company has a current ratio of 1.40, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The company’s 50-day moving average is $56.45 and its two-hundred day moving average is $59.45. Archer-Daniels-Midland Company has a 12-month low of $48.92 and a 12-month high of $77.35.

Archer-Daniels-Midland Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Thursday, November 21st. Archer-Daniels-Midland’s dividend payout ratio is currently 57.14%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. UBS Group lifted their target price on shares of Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley dropped their price objective on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Archer-Daniels-Midland 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.