Old Port Advisors Purchase $1.02 Million Holding in Archer Daniels Midland Co (NYSE:ADM)

Old Port Advisors Purchase $1.02 Million Holding in Archer Daniels Midland Co (NYSE:ADM)

Old Port Advisors purchased a new position in shares of Archer Daniels Midland Co (NYSE:ADM) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 22,161 shares of the company’s stock, valued at approximately $1,016,000.

Several other large investors also recently bought and sold shares of ADM. American Century Companies Inc. increased its position in shares of Archer Daniels Midland by 26.6% during the 1st quarter. American Century Companies Inc. now owns 19,635 shares of the company’s stock worth $852,000 after purchasing an additional 4,126 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Archer Daniels Midland by 5.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 50,692 shares of the company’s stock worth $2,199,000 after purchasing an additional 2,409 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Archer Daniels Midland during the 1st quarter worth approximately $1,753,000. Candriam Luxembourg S.C.A. increased its position in shares of Archer Daniels Midland by 34.2% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 50,251 shares of the company’s stock worth $2,179,000 after purchasing an additional 12,799 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of Archer Daniels Midland by 16.3% during the 1st quarter. IFP Advisors Inc now owns 11,415 shares of the company’s stock worth $495,000 after purchasing an additional 1,598 shares during the last quarter. 75.83% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have weighed in on ADM. Zacks Investment Research raised Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Wednesday, July 4th. Cleveland Research reissued a “hold” rating on shares of Archer Daniels Midland in a report on Monday, October 1st. BMO Capital Markets boosted their target price on Archer Daniels Midland from $45.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, August 1st. JPMorgan Chase & Co. raised Archer Daniels Midland from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $42.00 to $48.00 in a report on Monday, July 9th. Finally, Buckingham Research boosted their target price on Archer Daniels Midland from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Archer Daniels Midland presently has an average rating of “Hold” and an average price target of $47.62.

ADM opened at $51.45 on Wednesday. The firm has a market capitalization of $28.14 billion, a P/E ratio of 21.27 and a beta of 1.04. Archer Daniels Midland Co has a 1 year low of $38.59 and a 1 year high of $52.06. The company has a quick ratio of 0.91, a current ratio of 1.59 and a debt-to-equity ratio of 0.32.

Archer Daniels Midland (NYSE:ADM) last released its quarterly earnings results on Tuesday, July 31st. The company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.25. The business had revenue of $17.07 billion during the quarter, compared to the consensus estimate of $15.48 billion. Archer Daniels Midland had a return on equity of 9.19% and a net margin of 3.05%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. On average, research analysts expect that Archer Daniels Midland Co will post 3.43 EPS for the current fiscal year.

In related news, insider Joseph D. Taets sold 3,218 shares of the business’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $49.10, for a total value of $158,003.80. Following the completion of the sale, the insider now directly owns 182,770 shares in the company, valued at approximately $8,974,007. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John P. Stott sold 4,243 shares of the business’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $49.40, for a total value of $209,604.20. Following the completion of the sale, the vice president now owns 35,385 shares of the company’s stock, valued at $1,748,019. The disclosure for this sale can be found here. Insiders sold a total of 122,018 shares of company stock valued at $5,926,840 over the last 90 days. 0.94% of the stock is currently owned by corporate insiders.

About Archer Daniels Midland

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.

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