B. Riley Wealth Advisors Inc. Acquires 5,001 Shares of Archer-Daniels-Midland Company (NYSE:ADM)

B. Riley Wealth Advisors Inc. lifted its holdings in shares of Archer-Daniels-Midland Company (NYSE:ADM) by 7.2% during the third quarter, HoldingsChannel reports. The firm owned 73,983 shares of the company’s stock after purchasing an additional 5,001 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Archer-Daniels-Midland were worth $4,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new stake in Archer-Daniels-Midland in the third quarter worth about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Archer-Daniels-Midland during the 3rd quarter worth approximately $26,000. Altshuler Shaham Ltd bought a new stake in shares of Archer-Daniels-Midland in the 2nd quarter worth approximately $28,000. Peterson Financial Group Inc. purchased a new position in Archer-Daniels-Midland in the third quarter valued at approximately $28,000. Finally, Sachetta LLC grew its holdings in Archer-Daniels-Midland by 39.8% during the second quarter. Sachetta LLC now owns 737 shares of the company’s stock valued at $46,000 after purchasing an additional 210 shares during the period. 78.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADM. Barclays lowered their target price on Archer-Daniels-Midland from $60.00 to $56.00 and set an “underweight” rating on the stock in a research note on Wednesday, December 4th. BMO Capital Markets lowered their price objective on Archer-Daniels-Midland from $55.00 to $51.00 and set a “market perform” rating on the stock in a research note on Wednesday, December 4th. Citigroup upped their price objective on shares of Archer-Daniels-Midland from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Stephens began coverage on shares of Archer-Daniels-Midland in a research note on Wednesday. They issued an “equal weight” rating and a $55.00 target price for the company. Finally, Morgan Stanley dropped their price target on shares of Archer-Daniels-Midland from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Archer-Daniels-Midland has an average rating of “Hold” and a consensus target price of $60.62.

Archer-Daniels-Midland Stock Down 1.3 %

Shares of NYSE:ADM opened at $52.40 on Friday. The company has a market cap of $25.08 billion, a price-to-earnings ratio of 14.97 and a beta of 0.72. Archer-Daniels-Midland Company has a one year low of $48.92 and a one year high of $77.35. The firm has a fifty day moving average price of $54.50 and a two-hundred day moving average price of $58.65. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 0.84.

Archer-Daniels-Midland Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 21st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.82%. The ex-dividend date was Thursday, November 21st. Archer-Daniels-Midland’s payout ratio is 57.14%.

Archer-Daniels-Midland announced that its board has authorized a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase 100,000,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Archer-Daniels-Midland Company Profile

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.