Huntington National Bank decreased its stake in Archer Daniels Midland Co. (NYSE:ADM) by 40.6% during the second quarter, Holdings Channel reports. The fund owned 75,373 shares of the company’s stock after selling 51,613 shares during the period. Huntington National Bank’s holdings in Archer Daniels Midland were worth $3,233,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. State Street Corp increased its stake in Archer Daniels Midland by 7.0% in the first quarter. State Street Corp now owns 33,551,175 shares of the company’s stock valued at $1,218,240,000 after buying an additional 2,191,435 shares during the last quarter. American Century Companies Inc. increased its position in shares of Archer Daniels Midland by 2,281.0% in the second quarter. American Century Companies Inc. now owns 1,164,376 shares of the company’s stock worth $49,940,000 after buying an additional 1,115,473 shares in the last quarter. Chubb Ltd. acquired a new position in shares of Archer Daniels Midland during the first quarter worth $16,339,000. First Republic Investment Management Inc. increased its position in shares of Archer Daniels Midland by 45.8% in the first quarter. First Republic Investment Management Inc. now owns 1,343,997 shares of the company’s stock worth $48,801,000 after buying an additional 422,387 shares in the last quarter. Finally, BB&T Securities LLC increased its position in shares of Archer Daniels Midland by 3,258.5% in the first quarter. BB&T Securities LLC now owns 362,722 shares of the company’s stock worth $13,169,000 after buying an additional 351,922 shares in the last quarter. Hedge funds and other institutional investors own 72.77% of the company’s stock.
Shares of Archer Daniels Midland Co. (NYSE:ADM) traded down 0.28% during midday trading on Friday, reaching $42.13. The company’s stock had a trading volume of 1,790,042 shares. The company has a 50-day moving average price of $42.65 and a 200-day moving average price of $41.53. Archer Daniels Midland Co. has a 12 month low of $29.86 and a 12 month high of $47.03. The firm has a market cap of $24.51 billion, a price-to-earnings ratio of 17.04 and a beta of 1.02.
Archer Daniels Midland (NYSE:ADM) last issued its earnings results on Tuesday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.04. Archer Daniels Midland had a return on equity of 6.88% and a net margin of 2.35%. The firm earned $15.63 billion during the quarter, compared to analyst estimates of $16.57 billion. During the same period in the previous year, the company earned $0.60 EPS. Archer Daniels Midland’s revenue for the quarter was down 9.1% on a year-over-year basis. Equities analysts expect that Archer Daniels Midland Co. will post $2.23 earnings per share for the current year.
A number of equities analysts have recently weighed in on ADM shares. Zacks Investment Research upgraded Archer Daniels Midland from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Wednesday, June 29th. Argus upgraded Archer Daniels Midland from a “hold” rating to a “buy” rating and upped their target price for the company from $43.93 to $54.00 in a report on Thursday, August 4th. BB&T Corp. started coverage on Archer Daniels Midland in a report on Tuesday, July 12th. They issued a “hold” rating on the stock. Macquarie upped their target price on Archer Daniels Midland from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, August 29th. Finally, Vetr upgraded Archer Daniels Midland from a “hold” rating to a “strong-buy” rating and set a $49.80 target price on the stock in a report on Tuesday, September 6th. Eleven research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $45.07.
In other Archer Daniels Midland news, insider Ambrose Michael D sold 41,525 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $45.00, for a total value of $1,868,625.00. Following the completion of the transaction, the insider now owns 198,028 shares of the company’s stock, valued at approximately $8,911,260. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.15% of the stock is owned by company insiders.
About Archer Daniels Midland
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