Fifth Third Bancorp Grows Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

Fifth Third Bancorp grew its stake in Archer-Daniels-Midland Company (NYSE:ADM – Free Report) by 6.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 25,347 shares of the company’s stock after buying an additional 1,551 shares during the quarter. Fifth Third Bancorp’s holdings in Archer-Daniels-Midland were worth $1,831,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADM. Norges Bank purchased a new position in Archer-Daniels-Midland in the 4th quarter worth approximately $525,111,000. Morgan Stanley grew its stake in Archer-Daniels-Midland by 41.8% in the 3rd quarter. Morgan Stanley now owns 8,641,438 shares of the company’s stock worth $651,737,000 after buying an additional 2,547,232 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Archer-Daniels-Midland in the 1st quarter worth approximately $105,741,000. State Street Corp lifted its holdings in shares of Archer-Daniels-Midland by 4.4% in the 2nd quarter. State Street Corp now owns 31,364,445 shares of the company’s stock worth $2,369,897,000 after acquiring an additional 1,314,810 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Archer-Daniels-Midland by 73.7% in the 1st quarter. Deutsche Bank AG now owns 2,935,163 shares of the company’s stock worth $233,815,000 after acquiring an additional 1,245,194 shares during the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered shares of Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $90.00 to $67.00 in a report on Monday, January 22nd. Jefferies Financial Group reduced their price objective on shares of Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating on the stock in a research report on Wednesday, March 13th. Stifel Nicolaus downgraded shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating and reduced their target price for the stock from $116.00 to $56.00 in a research report on Monday, January 22nd. Roth Capital downgraded shares of Archer-Daniels-Midland from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. Finally, BMO Capital Markets cut their price objective on shares of Archer-Daniels-Midland from $66.00 to $60.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.50.

Archer-Daniels-Midland Stock Down 0.1 %

Shares of ADM opened at $62.65 on Thursday. The company has a market cap of $31.94 billion, a PE ratio of 9.71 and a beta of 0.77. The business has a fifty day moving average of $56.09 and a 200 day moving average of $66.87. Archer-Daniels-Midland Company has a 52-week low of $50.72 and a 52-week high of $87.30. The company has a quick ratio of 0.95, a current ratio of 1.60 and a debt-to-equity ratio of 0.34.

Archer-Daniels-Midland (NYSE:ADM – Get Free Report) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.07). Archer-Daniels-Midland had a return on equity of 15.25% and a net margin of 3.71%. The company had revenue of $22.98 billion during the quarter, compared to the consensus estimate of $23.79 billion. During the same quarter in the prior year, the business earned $1.93 earnings per share. The firm’s quarterly revenue was down 11.4% compared to the same quarter last year. On average, sell-side analysts expect that Archer-Daniels-Midland Company will post 5.58 EPS for the current year.

Archer-Daniels-Midland announced that its board has authorized a stock repurchase program on Tuesday, March 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Archer-Daniels-Midland Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 8th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.19%. This is an increase from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, February 7th. Archer-Daniels-Midland’s dividend payout ratio (DPR) is 31.25%.

Archer-Daniels-Midland Company Profile

(Free Report)

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.

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