ADM $60.89

ADM target price
Archer Daniels Midland Company
Traded as NYSE: ADM
S&P 500 Component
Industry Food processing
Founded Minneapolis, Minnesota, United States (1902 (1902))
Headquarters 77 West Wacker Drive
Chicago, Illinois, United States
Key people
Juan Luciano
(President and CEO)
Products Corn Syrup,
High fructose corn syrup,
Revenue Decrease US$62.346 billion (2016)
Operating income
Decrease US$1.822 billion (2016)
Net income
Decrease US$1.279 billion (2016)
Total assets Decrease US$39.769 billion (2016)
Total equity Decrease US$17.181 billion (2016)
Number of employees
32,300 (2016)
Website www.adm.com

The Archer Daniels Midland Company (ADM) is an American global food processing and commodities trading corporation, headquartered in Chicago, Illinois. The company operates more than 270 plants and 420 crop procurement facilities worldwide, where cereal grains and oilseeds are processed into products used in food, beverage, nutraceutical, industrial, and animal feed markets worldwide.

It was named the world's most-admired food-production company by Fortune magazine for three consecutive years: 2009, 2010 and 2011.

The company also provides agricultural storage and transportation services. The American River Transportation Company along with ADM Trucking, Inc., are subsidiaries of ADM.

Products include oils and meal from soybeans, cottonseed, sunflower seeds, canola, peanuts, flaxseed, Palm kernel and Diacylglycerol (DAG) oil, as well as corn germ, corn gluten feed pellets, syrup, starch, glucose, dextrose, crystalline dextrose, high fructose corn syrup sweeteners, cocoa liquor, cocoa powder, cocoa butter, chocolate, ethanol, and wheat flour. End uses are consumption by people, livestock, and additives for fuel.

Long known as a food and ingredients company, it has also invested in fuel production. ADM nearly doubled capital spending in its 2007 budget to an estimated $1.12 billion. The increase is planned for bioenergy projects, focusing on bioethanol and biodiesel.

The Oilseeds Processing segment includes global activities related to the origination, merchandising, crushing, and further processing of oilseeds such as soybeans and soft seeds (cottonseed, sunflower seed, canola, rapeseed, and flaxseed) into vegetable oils and protein meals.

ADM's Corn Processing segment is engaged in corn wet milling and dry milling activities, with its asset base primarily located in the central part of the United States. The Corn Processing segment converts corn into sweeteners and starches, and bioproducts. Its products include ingredients used in the food and beverage industry including sweeteners, starch, syrup, glucose (dextrose). Dextrose and starch are used by the Corn Processing segment as feedstocks for its bioproducts operations.

ADM's Agricultural Services segment uses its U.S. grain elevator, global transportation network, and port operations to buy, store, clean, and transport agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, and resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry.

ADM Investor Services, Inc. is a registered futures commission merchant and a clearing member of all principal commodities exchanges in the U.S. ADM Investor Services International, Ltd., a member of commodity exchanges and clearing houses in Europe, and ADMIS Hong Kong Limited, offer broker services in Europe and Asia.

ADM'S captive insurance services, which include Agrinational Insurance Company (Agrinational), provides insurance coverage for certain property, casualty, marine, credit, and other miscellaneous risks of the Company and participates in certain third-party reinsurance arrangements.

ADM's Crop Risk Services is a managing general agent which sells and services crop insurance policies to farmers.

In 1902, George A. Archer and John W. Daniels began a linseed crushing business in Minneapolis, Minnesota. In 1923, Archer-Daniels Linseed Company acquired Midland Linseed Products Company, and the Archer Daniels Midland Company was formed. ADM expanded its agribusiness to include milling, processing, specialty food ingredients, and cocoa.

In 1970, Dwayne Andreas became the chief executive officer of ADM, and is credited with transforming the firm into an industrial powerhouse. Andreas remained CEO until 1997 before his nephew G. Allen Andreas was named to this position. He was one of the most prominent political campaign donors in the United States, having contributed millions of dollars to Democratic and Republican candidates alike.

In 2001, Paul B. Mulhollem became the company's president. Under his guidance, the company was the first U.S. company to sign a contract with Cuba since the embargo against Cuba was imposed October 1960.

In May 2006, Patricia A. Woertz became the company's chief executive officer. Formerly of Chevron, she was expected to focus on developing ethanol and biofuels. In February 2007, Ms. Woertz was elected Chairman of the Board at ADM.

Starting in October 2012, the company sought to acquire strategic holdings to support serving Asian markets through acquisition of GrainCorp, an Australian grain firm with a network of storage and port facilities in Australia. On 29 Nov 2013, this acquisition was blocked by the Australian Treasurer.

On July 7, 2014, the company said that it will buy Swiss-German natural ingredient company Wild Flavors for $3 billion, a move aimed at diversifying the company and helping brands appeal to consumers who increasingly favor foods with natural ingredients and flavorings.

On November 5, 2014, ADM announced that effective January 1, 2015, Juan Luciano will become the company's new CEO. Luciano was hired on in 2011 as the company's Chief Operating Officer. Woertz will retain the position of Chairman of the Board until 2016 when she is expecting to retire.

In October 2015, ADM announced the sale of its global cocoa business to Olam. The sale is valued at about $1.2 billion. Approximately 1,500 employees transferred to Olam with the sale.

In January 2017, Archer Daniels Midland agreed to sell its crop risk services (insurance) unit to Validus Holdings for $127.5 million.

In 1920 the US Department of Justice brought suit against the National Linseed Oil Trust for violating the Sherman Antitrust Act. Several co-defendants were named, including the Archer-Daniels Manufacturing Company. The suit alleged all of these companies were acting in collusion to raise prices, citing a spike in linseed oil costs between 1916 and 1918, when the price rose from $.50 per gallon to $1.80.

In 1993, the company was the subject of a lysine price-fixing investigation by the U.S. Justice Department. Senior ADM executives were indicted on criminal charges for engaging in price-fixing within the international lysine market. Three of ADM's top officials, including vice chairman Michael Andreas were eventually sentenced to federal prison in 1999. Moreover, in 1997, the company was fined $100 million, the largest antitrust fine in U.S. history at the time. Mark Whitacre, FBI informant and whistleblower of the lysine price-fixing conspiracy, would also find himself in legal trouble for embezzling money from ADM during his time as an informant for the FBI. In addition, according to ADM's 2005 annual report, a settlement was reached under which ADM paid $400 million in 2005 to settle a class action antitrust suit.

The Informant is a nonfiction thriller book that documents the mid-1990s lysine price-fixing conspiracy case and the involvement of ADM executive Mark Whitacre. The book was adapted into the 2009 film The Informant!. This case has also been featured on episode 168 of This American Life called The Fix Is In.

On December 20, 2013 the SEC announced that it had charged ADM for failing to prevent illicit payments (bribes) made by its foreign subsidiaries to Ukrainian government officials in violation of the FCPA. ADM agreed to pay more than $36 million to settle the SEC's charges.

The company has been the subject of several major federal lawsuits related to air pollution. In 2001, it agreed to pay a $1.46 million fine for violating federal and Illinois clean-air regulations at its Decatur feed plant and to spend $1.6 million to reduce air pollution there. In 2003, the company settled federal air pollution complaints related to the its efforts to avoid New Source Review provisions of the Clean Air Act that require pollution control upgrades when a plant is modernized. The company paid $4.5 million in penalties and more than $6 million to support environmental projects. In addition, ADM agreed to eliminate more than 60,000 tons of emissions of carbon monoxide, particulate matter, organic volatile chemicals and other pollutants from 42 plants in 17 states at a cost of hundreds of millions of dollars.

ADM is involved in a joint project with Daimler AG and Bayer CropScience to develop jatropha as a biofuel.

In an attempt to reduce its carbon footprint, the company has partnered with the Midwest Geological Sequestration Association and other organizations to test the disposal of carbon dioxide emissions underground. If testing is successful, beginning in late 2010 the company expected to dispose of 1,000 metric tons per day of carbon dioxide emissions currently being released to the atmosphere.

The company lobbies for agricultural subsidies and price supports including sugar and ethanol. According to a 1995 report by the libertarian think tank Cato Institute, "ADM has cost the American economy billions of dollars since 1980 and has indirectly cost Americans tens of billions of dollars in higher prices and higher taxes over that same period. At least 43 percent of ADM's annual profits are from products heavily subsidized or protected by the American government. Moreover, every $1 of profits earned by ADM's corn sweetener operation costs consumers $10, and every $1 of profits earned by its bioethanol operation costs taxpayers $30."

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2022 2023-04-25 Future report Set alerts
Q3 2022 2022-10-25 1.86 1.86
Q2 2022 2022-07-26 2.15 2.15
Q1 2022 2022-04-26 1.90 1.90
Q4 2021 2022-01-25 1.50 1.50
Q3 2021 2021-10-26 0.97 0.97
Q2 2021 2021-07-27 1.33 1.33
Q1 2021 2021-04-27 1.39 1.39
Q4 2020 2021-01-26 1.21 1.21
Q3 2020 2020-10-29 0.89 0.89


2016-07-12 Initiated Coverage BB&T Corp. Hold
2016-06-16 Reiterated Rating Morgan Stanley Hold
2016-06-06 Reiterated Rating Stephens Hold
2016-05-26 Upgrade Citigroup Inc. Neutral to Buy $42.00 to $50.00
2016-05-24 Upgrade BMO Capital Markets Market Perform to Outperform $40.44 to $48.00
2016-05-04 Reiterated Rating BMO Capital Markets Hold
2016-05-03 Boost Price Target Credit Suisse Neutral $39.00 to $40.00
2016-05-03 Boost Price Target Citigroup Inc. Hold to Neutral $35.00 to $42.00
2016-05-03 Boost Price Target Credit Suisse Group AG Neutral $39.00 to $40.00
2016-04-28 Downgrade Standpoint Research Buy to Hold
2016-04-22 Upgrade JPMorgan Chase & Co. Underweight to Neutral $30.00 to $36.00
2016-03-07 Downgrade Bank of America Buy to Neutral $40.00
2016-03-07 Downgrade Bank of America Corp. Buy to Neutral $40.00
2016-02-12 Downgrade Argus Buy to Hold
2016-02-03 Lower Price Target Goldman Sachs Neutral $43.00 to $39.00
2016-02-03 Lower Price Target BMO Capital Markets Market Perform $43.00 to $33.00
2016-02-03 Lower Price Target Goldman Sachs Group Inc. Neutral $43.00 to $39.00
2016-01-27 Reiterated Rating Bank of America Buy $49.00 to $42.00
2016-01-15 Lower Price Target Goldman Sachs $46.00 to $43.00
2016-01-07 Upgrade Standpoint Research Hold to Buy
2015-11-20 Downgrade Stephens Overweight to Equal Weight $50.00 to $40.00
2015-11-13 Lower Price Target JPMorgan Chase & Co. Underweight $42.00 to $38.00
2015-11-04 Boost Price Target Buckingham Research Neutral $45.00 to $49.00
2015-11-04 Lower Price Target BMO Capital Markets Market Perform $52.00 to $48.00
2015-10-19 Initiated Coverage Buckingham Research Neutral $49.00
2015-09-29 Reiterated Rating Credit Suisse Neutral $47.00
2015-08-05 Lower Price Target Scotiabank $57.00 to $54.00
2015-07-29 Downgrade Citigroup Inc. Buy to Neutral $55.00 to $51.00
2015-07-07 Initiated Coverage Vertical Research Hold $52.00
2015-04-02 Set Price Target Citigroup Inc. Buy $57.00 to $55.00
2015-02-04 Set Price Target Credit Suisse Hold $52.00
2015-01-30 Boost Price Target Miller Tabak Hold $51.00 to $53.00
2015-01-20 Downgrade JPMorgan Chase & Co. Neutral to Underweight $45.00 to $41.00
2015-01-15 Downgrade Goldman Sachs Buy to Neutral
2015-01-08 Downgrade BMO Capital Markets Outperform to Market Perform $58.00 to $52.00
2014-12-16 Boost Price Target Citigroup Inc. Buy $52.00 to $57.00
2014-12-04 Downgrade Miller Tabak Buy to Hold $53.00
2014-11-28 Boost Price Target Argus Buy $57.00 to $61.00
2014-11-11 Reiterated Rating Bank of America Buy $58.00
2014-10-28 Reiterated Rating JPMorgan Chase & Co. Neutral $48.00 to $45.00
2014-10-14 Reiterated Rating Citigroup Inc. Buy $56.00 to $52.00
2014-09-04 Initiated Coverage Janney Montgomery Scott Buy
2014-08-20 Boost Price Target Argus Buy $49.00 to $57.00
2014-07-18 Boost Price Target JPMorgan Chase & Co. Neutral $46.00 to $48.00
2014-07-09 Reiterated Rating Citigroup Inc. Buy $50.00 to $53.00
2014-07-07 Upgrade Miller Tabak Hold to Buy
2014-04-30 Upgrade Stephens Equal Weight to Overweight $52.00
2014-04-04 Boost Price Target Citigroup Inc. Buy $5.00 to $50.00
2014-03-10 Upgrade BMO Capital Markets Market Perform to Outperform $42.00 to $50.00
2014-02-05 Upgrade Scotiabank Sector Perform to Outperform
2014-02-05 Upgrade Citigroup Inc. Neutral to Buy $45.00
2014-01-07 Downgrade Stephens Overweight to Equal Weight
2013-12-24 Initiated Stifel Hold
2013-12-24 Initiated Coverage Stifel Nicolaus Buy to Hold
2013-12-17 Initiated Coverage Macquarie Outperform
2013-12-09 Initiated Coverage Credit Suisse Neutral $44.00
2013-12-02 Initiated Coverage Citigroup Inc. Neutral $45.00 to $35.00
2013-11-18 Downgrade Ned Davis Research Buy to Neutral
2013-10-31 Upgrade Argus Hold to Buy $49.00
2013-10-30 Boost Price Target Scotiabank $39.00 to $43.00
2013-10-30 Boost Price Target BMO Capital Markets Market Perform $36.00 to $42.00
2013-10-21 Upgrade Bank of America Underperform to Buy $36.00 to $44.00
2012-08-15 Upgrade Standpoint Research Hold to Buy $33
2012-05-01 Downgrade Standpoint Research Buy to Hold
2011-11-07 Initiated Ticonderoga Neutral
2011-10-17 Initiated Argus Hold
2011-08-08 Upgrade Standpoint Research Hold to Buy $33
2011-03-22 Initiated Stifel Nicolaus Buy $44
2010-12-16 Initiated Jefferies Hold $34
2010-09-14 Downgrade Stanford Research Buy to Hold
2010-02-05 Upgrade Deutsche Bank Hold to Buy $35
2010-01-20 Upgrade Citigroup Hold to Buy $33 to $37
2009-09-30 Upgrade BMO Capital Markets Market Perform to Outperform
2009-08-05 Downgrade Oppenheimer Outperform to Perform
2009-05-22 Upgrade Citigroup Sell to Hold
2009-04-08 Downgrade Soleil Buy to Sell $33 to $22
2009-04-07 Downgrade Citigroup Hold to Sell
2009-02-04 Downgrade JP Morgan Overweight to Neutral
2008-12-01 Downgrade BMO Capital Markets Outperform to Market Perform
2016-07-12 Initiated Coverage BB&T Corp. Hold
2016-06-16 Reiterated Rating Morgan Stanley Hold
2016-06-06 Reiterated Rating Stephens Hold
2016-05-26 Upgrade Citigroup Inc. Neutral to Buy $42.00 to $50.00
2016-05-24 Upgrade BMO Capital Markets Market Perform to Outperform $40.44 to $48.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
CARTER MOLLIE H 0.35%  (2262660) ADM / WR /
WOERTZ PATRICIA A President & CEO 0.12%  (750508) ADM / MMM / PG /
LUCIANO JUAN R Executive V.P. & COO 0.05%  (318709) ADM / LLY /
Young Ray G Chief Financial Officer 0.05%  (308003) ADM / IP /
D AMBROSE MICHAEL Senior Vice President 0.03%  (198622) ADM /
Taets Joseph D. Vice President 0.03%  (181213) ADM /
FINDLAY D CAMERON Senior Vice President 0.03%  (177892) ADM / MDT /
JANSEN MATTHEW J Senior Vice President 0.03%  (167932) ADM /
Bemis Mark Senior Vice President 0.02%  (124493) ADM /
Morris Gregory A Senior Vice President 0.02%  (120058) ADM /
Cuddy Christopher M President-Corn 0.02%  (116618) ADM /
Macciocchi Vincent F Senior Vice President 0.01%  (87010) ADM /
Kampfe Randall R Vice President 0.01%  (49054) ADM /
Hess Kevin Vice President 0.01%  (46183) ADM /
Herzfeld Shannon Vice President 0.01%  (46114) ADM /
Luthar Vikram Group Vice President, Finance 0.01%  (42734) ADM /
Stott John P Vice President & Controller 0.01%  (41761) ADM /
Lastra Domingo A. Vice President 0.01%  (37045) ADM /
Roig Ismael Vice President 0.01%  (33879) ADM /