We agree with Buffett on ADM

Article Excerpt

ARCHER DANIELS MIDLAND CO. $33 (New York symbol ADM; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 658.6 million; Market cap: $21.7 billion; Priceto- sales ratio: 0.2; Dividend yield: 2.3%; TSINetwork Rating: Above Average; www.adm.com) has moved up nearly 20% in the past three months. That’s partly because Berkshire Hathaway, the holding company controlled by billionaire investor Warren Buffett, now owns 1% of Archer Daniel’s shares. The company is also profiting from strong demand for sweeteners and soybean products. That let it raise its its dividend by 8.6%. The new annual rate of $0.76 a share yields 2.3%. Archer Daniels Midland is a buy. buy…