Alps Advisors Inc. reduced its stake in Archer Daniels Midland Company (NYSE:ADM) by 11.8% in the third quarter, selling 53,439 shares and holding 398,432 shares valued at approximately $23.8 million. Despite beating EPS estimates, ADM’s revenue declined, and analyst sentiment remains cautious with a “Reduce” consensus rating, although the company raised its quarterly dividend. Institutional investors hold a significant portion of ADM’s stock, and several other hedge funds have also adjusted their positions.
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Alps Advisors Inc. Reduces Holdings in Archer Daniels Midland Company $ADM
Alps Advisors Inc. reduced its stake in Archer Daniels Midland Company (NYSE:ADM) by 11.8% in the third quarter, selling 53,439 shares and holding 398,432 shares valued at approximately $23.8 million. Despite beating EPS estimates, ADM’s revenue declined, and analyst sentiment remains cautious with a “Reduce” consensus rating, although the company raised its quarterly dividend. Institutional investors hold a significant portion of ADM’s stock, and several other hedge funds have also adjusted their positions.