Panagora Asset Management Inc. Raises Holdings in Archer-Daniels-Midland Company (NYSE:ADM)

17 Jan 2024

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Panagora Asset Management Inc Raises Holdings in ArcherDanielsMidland
Company NYSEADM

Panagora Asset Management Inc. grew its position in shares of Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 57.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1

Panagora Asset Management Inc. grew its position in shares of Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 57.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,222,341 shares of the company's stock after acquiring an additional 448,049 shares during the quarter. Panagora Asset Management Inc. owned about 0.23% of Archer-Daniels-Midland worth $92,189,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ADM. State Street Corp raised its holdings in Archer-Daniels-Midland by 4.4% in the second quarter. State Street Corp now owns 31,364,445 shares of the company's stock valued at $2,369,897,000 after buying an additional 1,314,810 shares during the period. Geode Capital Management LLC raised its stake in shares of Archer-Daniels-Midland by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 9,956,183 shares of the company's stock valued at $749,998,000 after acquiring an additional 105,943 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Archer-Daniels-Midland by 63,476.2% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 7,555,392 shares of the company's stock valued at $570,885,000 after acquiring an additional 7,543,508 shares in the last quarter. Morgan Stanley boosted its position in Archer-Daniels-Midland by 9.2% during the 4th quarter. Morgan Stanley now owns 6,744,254 shares of the company's stock worth $626,204,000 after purchasing an additional 570,811 shares during the period. Finally, Norges Bank acquired a new stake in Archer-Daniels-Midland in the 4th quarter valued at $525,111,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

Archer-Daniels-Midland Stock Up 0.1 %

Shares of ADM stock traded up $0.09 during trading hours on Monday, hitting $69.56. 2,548,600 shares of the company were exchanged, compared to its average volume of 3,103,633. The stock has a market capitalization of $37.10 billion, a price-to-earnings ratio of 9.69 and a beta of 0.78. Archer-Daniels-Midland Company has a one year low of $69.01 and a one year high of $89.32. The business's 50-day simple moving average is $72.94 and its two-hundred day simple moving average is $76.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.07 and a current ratio of 1.69.

Archer-Daniels-Midland (NYSE:ADM - Get Free Report) last released its earnings results on Tuesday, October 24th. The company reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.10. The company had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $23.69 billion. Archer-Daniels-Midland had a return on equity of 16.63% and a net margin of 4.05%. Archer-Daniels-Midland's quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.86 EPS. Sell-side analysts predict that Archer-Daniels-Midland Company will post 7.26 EPS for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 6th. Shareholders of record on Wednesday, November 15th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.59%. Archer-Daniels-Midland's dividend payout ratio (DPR) is 25.07%.

Wall Street Analysts Forecast Growth

ADM has been the subject of several analyst reports. StockNews.com raised Archer-Daniels-Midland from a "hold" rating to a "buy" rating in a research report on Thursday. Morgan Stanley dropped their price objective on shares of Archer-Daniels-Midland from $87.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Monday, October 30th. Stephens decreased their target price on shares of Archer-Daniels-Midland from $80.00 to $75.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 25th. BMO Capital Markets downgraded shares of Archer-Daniels-Midland from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $90.00 to $80.00 in a research note on Monday, December 18th. Finally, UBS Group decreased their price objective on shares of Archer-Daniels-Midland from $115.00 to $104.00 and set a "buy" rating for the company in a research report on Wednesday, December 20th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Archer-Daniels-Midland presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.89.

Check Out Our Latest Analysis on ADM

Archer-Daniels-Midland Profile

(Free Report)

Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. The company operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.