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 $2.29 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 29 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 1,271,183 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 793,974 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 16.75 million shares of the company’s stock, all valued at over $1.21 billion. The company sold 73797.0 shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund sold 40601.0 shares to see its total holdings shrink to 13.02 million shares valued at over $940.57 million and representing 2.44% of the shares outstanding. Washington Mutual Investors Fund sold -3.07 million shares to bring its total holdings to over 7.91 million shares at a value of $571.46 million. Washington Mutual Investors Fund now owns shares totaling to 1.48% of the shares outstanding.
The company’s stock has a 5-day price change of -25.69% and -30.00% over the past three months. ADM shares are trading -28.43% year to date (YTD), with the 12-month market performance down to -39.41% lower. It has a 12-month low price of $68.00 and touched a high of $87.30 over the same period. ADM has an average intraday trading volume of 3.37 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 -26.97%, -28.83%, and -32.17% respectively.
Institutional ownership of Archer Daniels Midland Co. (NYSE: ADM) shares accounts for 80.31% of the company’s 547.00M shares outstanding. Mutual fund holders own 39.14%, while other institutional holders and individual stakeholders account for 41.56% and 12.38% respectively.
It has a market capitalization of $27.57B and a beta (3y monthly) value of 0.77. The stock’s trailing 12-month PE ratio is 7.20, 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 3.51% over the week and 2.16% over the month.
Analysts forecast that Archer Daniels Midland Co. (ADM) will achieve an EPS of $1.67 for the current quarter, $1.69 for the next quarter and $6.46 for 2024. The lowest estimate earnings-per-share for the quarter is $1.61 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 -8.64%, and -14.40% 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. Stifel stated their Hold rating for the stock in a research note on Jan-23-24, with the firm’s price target at $116-$56.
