The Manufacturers Life Insurance Company Sells 27,963 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

The Manufacturers Life Insurance Company lowered its stake in Archer-Daniels-Midland Company (NYSE:ADM) by 6.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 393,117 shares of the company’s stock after selling 27,963 shares during the period. The Manufacturers Life Insurance Company’s holdings in Archer-Daniels-Midland were worth $23,485,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ADM. Cetera Investment Advisers increased its holdings in Archer-Daniels-Midland by 1,643.5% during the 1st quarter. Cetera Investment Advisers now owns 197,088 shares of the company’s stock worth $12,379,000 after purchasing an additional 185,784 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Archer-Daniels-Midland by 143.4% during the second quarter. GAMMA Investing LLC now owns 9,643 shares of the company’s stock worth $583,000 after buying an additional 5,682 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Archer-Daniels-Midland by 14.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,729 shares of the company’s stock valued at $105,000 after buying an additional 213 shares during the last quarter. DNB Asset Management AS lifted its stake in Archer-Daniels-Midland by 9.9% in the 2nd quarter. DNB Asset Management AS now owns 104,383 shares of the company’s stock valued at $6,310,000 after acquiring an additional 9,420 shares in the last quarter. Finally, Bank & Trust Co acquired a new position in Archer-Daniels-Midland during the 2nd quarter worth approximately $732,000. Institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Trading Up 0.4 %

Archer-Daniels-Midland stock opened at $54.60 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 1.40. The stock has a 50-day simple moving average of $55.89 and a 200 day simple moving average of $59.24. The stock has a market capitalization of $26.13 billion, a P/E ratio of 15.60 and a beta of 0.73. Archer-Daniels-Midland Company has a 52 week low of $48.92 and a 52 week high of $77.35.

Archer-Daniels-Midland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Thursday, November 21st. Archer-Daniels-Midland’s payout ratio is presently 57.14%.

Analyst Upgrades and Downgrades

ADM has been the topic of a number of research reports. UBS Group boosted their price objective on shares of Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Morgan Stanley cut their price target on shares of 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. One equities research analyst has rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. Based on data from MarketBeat, Archer-Daniels-Midland presently has a consensus rating of “Hold” and a consensus price target of $62.83.

Insider Buying and Selling at Archer-Daniels-Midland

In other news, CEO Juan R. Luciano sold 170,194 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $60.51, for a total transaction of $10,298,438.94. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Archer-Daniels-Midland Company 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.