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Franklin Resources Inc. Has $16.18 Million Stock Position in Archer-Daniels-Midland Company (NYSE:ADM)

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Franklin Resources Inc. Has $16.18 Million Stock Position in Archer-Daniels-Midland Company (NYSE:ADM)

Franklin Resources Inc. reduced its position in Archer-Daniels-Midland Company (NYSE:ADM - Free Report) by 47.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 279,394 shares of the company's stock after selling 255,409 shares during the period. Franklin Resources Inc. owned about 0.06% of Archer-Daniels-Midland worth $16,180,000 at the end of the most recent quarter.

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

ADM has been the topic of several analyst reports. Citigroup increased 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 report on Wednesday, December 4th. Barclays cut their price objective 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. UBS Group upped their target price on Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, September 9th. 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 report on Tuesday, November 12th. Finally, BMO Capital Markets decreased their price objective on shares of Archer-Daniels-Midland from $55.00 to $51.00 and set a "market perform" rating for the company in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $60.62.

Read Our Latest Stock Analysis on Archer-Daniels-Midland

Shares of Archer-Daniels-Midland stock opened at $50.49 on Friday. The firm has a fifty day moving average price of $53.79 and a two-hundred day moving average price of $58.30. Archer-Daniels-Midland Company has a fifty-two week low of $48.92 and a fifty-two week high of $74.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.40 and a quick ratio of 0.84. The company has a market cap of $24.16 billion, a PE ratio of 14.43 and a beta of 0.72.

Archer-Daniels-Midland declared that its board has approved a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase 100,000,000 shares. This repurchase authorization permits the company to buy 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.

The company 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 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend was Thursday, November 21st. Archer-Daniels-Midland's dividend payout ratio (DPR) is presently 57.14%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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