Corebridge Financial Inc. Sells 14,471 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

Corebridge Financial Inc. lowered its position in Archer-Daniels-Midland Company (NYSE:ADM) by 9.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 137,674 shares of the company’s stock after selling 14,471 shares during the period. Corebridge Financial Inc.’s holdings in Archer-Daniels-Midland were worth $6,955,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. West Financial Advisors LLC grew its holdings in Archer-Daniels-Midland by 10.1% in the fourth quarter. West Financial Advisors LLC now owns 2,201 shares of the company’s stock worth $111,000 after purchasing an additional 201 shares during the last quarter. Hantz Financial Services Inc. increased its position in Archer-Daniels-Midland by 10.8% during the 4th quarter. Hantz Financial Services Inc. now owns 2,152 shares of the company’s stock valued at $109,000 after buying an additional 210 shares in the last quarter. Invesco LLC raised its stake in Archer-Daniels-Midland by 1.3% in the fourth quarter. Invesco LLC now owns 16,242 shares of the company’s stock valued at $821,000 after buying an additional 211 shares during the last quarter. Advisor OS LLC grew its stake in shares of Archer-Daniels-Midland by 4.9% during the fourth quarter. Advisor OS LLC now owns 4,565 shares of the company’s stock worth $231,000 after acquiring an additional 212 shares during the last quarter. Finally, Advisory Alpha LLC increased its holdings in shares of Archer-Daniels-Midland by 2.8% during the fourth quarter. Advisory Alpha LLC now owns 7,952 shares of the company’s stock valued at $402,000 after acquiring an additional 216 shares in the last quarter. Institutional investors own 78.28% of the company’s stock.

Archer-Daniels-Midland Trading Down 0.8 %

Shares of NYSE:ADM opened at $47.87 on Friday. The company has a current ratio of 1.39, a quick ratio of 0.81 and a debt-to-equity ratio of 0.34. Archer-Daniels-Midland Company has a 12-month low of $44.92 and a 12-month high of $66.08. The business has a 50 day moving average of $47.89 and a two-hundred day moving average of $52.24. The company has a market capitalization of $22.97 billion, a PE ratio of 13.26, a PEG ratio of 1.54 and a beta of 0.67.

Archer-Daniels-Midland (NYSE:ADM) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. Archer-Daniels-Midland had a net margin of 2.10% and a return on equity of 10.44%. The firm had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $22.77 billion. During the same period in the prior year, the firm posted $1.36 earnings per share. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, analysts forecast that Archer-Daniels-Midland Company will post 4.31 EPS for the current year.

Archer-Daniels-Midland Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were issued a $0.51 dividend. This is a boost from Archer-Daniels-Midland’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, February 18th. This represents a $2.04 dividend on an annualized basis and a yield of 4.26%. Archer-Daniels-Midland’s dividend payout ratio is presently 56.51%.

Archer-Daniels-Midland announced that its board has approved a share buyback plan on Wednesday, December 11th that allows the company to repurchase 100,000,000 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently commented on ADM. Citigroup lifted their target price on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Bank of America cut their target price on Archer-Daniels-Midland from $54.00 to $48.00 and set an “underperform” rating on the stock in a research report on Tuesday, February 11th. BMO Capital Markets lowered their price target on Archer-Daniels-Midland from $51.00 to $49.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Stephens cut their price objective on Archer-Daniels-Midland from $55.00 to $52.00 in a report on Tuesday, February 4th. Finally, Morgan Stanley dropped their target price on Archer-Daniels-Midland from $52.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $53.63.

About Archer-Daniels-Midland

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.