Fifth Third Bancorp Lowers Stake in Archer-Daniels-Midland Company (NYSE:ADM)

Fifth Third Bancorp decreased its position in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 41.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,769 shares of the company’s stock after selling 12,016 shares during the period. Fifth Third Bancorp’s holdings in Archer-Daniels-Midland were worth $847,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ADM. apricus wealth LLC boosted its holdings in shares of Archer-Daniels-Midland by 10.7% during the fourth quarter. apricus wealth LLC now owns 40,626 shares of the company’s stock worth $2,052,000 after purchasing an additional 3,940 shares during the last quarter. Pflug Koory LLC boosted its stake in Archer-Daniels-Midland by 5.1% in the 4th quarter. Pflug Koory LLC now owns 14,749 shares of the company’s stock worth $745,000 after buying an additional 712 shares during the last quarter. Impact Partnership Wealth LLC grew its holdings in Archer-Daniels-Midland by 5.6% in the 4th quarter. Impact Partnership Wealth LLC now owns 12,257 shares of the company’s stock valued at $619,000 after buying an additional 651 shares during the period. Cornerstone Wealth Management LLC increased its stake in shares of Archer-Daniels-Midland by 12.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 5,971 shares of the company’s stock valued at $302,000 after acquiring an additional 676 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Archer-Daniels-Midland by 179.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 556 shares of the company’s stock worth $28,000 after acquiring an additional 357 shares during the period. Institutional investors and hedge funds own 78.28% of the company’s stock.

Archer-Daniels-Midland Trading Up 2.3 %

NYSE ADM opened at $51.74 on Thursday. The company’s fifty day simple moving average is $51.52 and its 200-day simple moving average is $56.19. The stock has a market cap of $24.76 billion, a P/E ratio of 14.78 and a beta of 0.72. Archer-Daniels-Midland Company has a 52 week low of $48.40 and a 52 week high of $66.08. The company has a current ratio of 1.40, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34.

Archer-Daniels-Midland declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 11th that allows the company to repurchase 100,000,000 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Archer-Daniels-Midland Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.00 dividend on an annualized basis and a yield of 3.87%. Archer-Daniels-Midland’s payout ratio is currently 57.14%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. BMO Capital Markets dropped their price target on shares of Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating for the company in a research report on Wednesday, December 4th. Citigroup upped their price objective on Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Bank of America cut Archer-Daniels-Midland from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $63.00 to $54.00 in a report on Tuesday, January 14th. Barclays dropped their price target on Archer-Daniels-Midland from $56.00 to $50.00 and set an “underweight” rating for the company in a research note on Tuesday, January 21st. Finally, Stephens initiated coverage on Archer-Daniels-Midland in a research note on Wednesday, December 11th. They issued an “equal weight” rating and a $55.00 price objective on the stock. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.89.

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.