SSgA Funds Management, Inc. recently announced the acquisition of new stake in Archer Daniels Midland Co. (NYSE:ADM). The institutional investor has increased its shareholding in the Consumer Defensive company by 0.91% to 31.65 million shares with purchase of 0.28 million shares. This fresh investment now brings its stake to 5.93% valued currently at $2.33 billion. In addition, Northern Trust Investments, Inc. raised its holdings by 0.21 million to 12.67 million shares. And Geode Capital Management LLC has lifted its position by 0.24% or 24052.0 shares – to 9.98 million shares.
Currently, there are 547.00M common shares owned by the public and among those 529.33M shares have been available to trade.
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Insiders at the company have transacted a total of 37 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 1,287,258 shares. Insider sales of the common stock occurred on 15 occasions, with total insider shares sold totaling 810,049 shares.
The top 3 mutual fund holders in Archer Daniels Midland Co. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Washington Mutual Investors Fund. Vanguard Total Stock Market ETF owns 16.78 million shares of the company’s stock, all valued at over $1.24 billion. The company bought an additional 86987.0 shares recently to bring their total holdings to about 3.15% of the shares outstanding. Vanguard 500 Index Fund bought 64627.0 shares to see its total holdings expand to 12.95 million shares valued at over $954.68 million and representing 2.43% of the shares outstanding. Washington Mutual Investors Fund sold -6.74 million shares to bring its total holdings to over 10.98 million shares at a value of $809.53 million. Washington Mutual Investors Fund now owns shares totaling to 2.06% of the shares outstanding.
However, the script later moved the day high at 75.60, down -4.50%. The company’s stock has a 5-day price change of -3.65% and -8.55% over the past three months. ADM shares are trading -22.09% year to date (YTD), with the 12-month market performance down to -21.73% lower. It has a 12-month low price of $69.31 and touched a high of $96.16 over the same period. ADM has an average intraday trading volume of 2.93 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.62%, -1.40%, and -6.04% respectively.
Institutional ownership of Archer Daniels Midland Co. (NYSE: ADM) shares accounts for 80.85% of the company’s 547.00M shares outstanding. Mutual fund holders own 38.01%, while other institutional holders and individual stakeholders account for 43.24% and 12.38% respectively.
It has a market capitalization of $38.58B and a beta (3y monthly) value of 0.79. The stock’s trailing 12-month PE ratio is 10.07, while the earnings-per-share (ttm) stands at $7.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.82% over the week and 1.79% over the month.
Analysts forecast that Archer Daniels Midland Co. (ADM) will achieve an EPS of $1.66 for the current quarter, $1.72 for the next quarter and $6.58 for 2024. The lowest estimate earnings-per-share for the quarter is $1.57 while analysts give the company a high EPS estimate of $1.79. Comparatively, EPS for the current quarter was $1.93 a year ago. Earnings per share for the fiscal year are expected to decrease by -7.17%, and -9.84% over the next financial year. EPS should shrink at an annualized rate of -5.30% over the next five years, compared to 22.55% over the past 5-year period.
Looking at the support for the ADM, a number of firms have released research notes about the stock. BMO Capital Markets stated their Market Perform rating for the stock in a research note on Dec-19-23, with the firm’s price target at $90-$80.
