ARCHER DANIELS MIDLAND CO. $34 - New York symbol ADM

ARCHER DANIELS MIDLAND CO. $34 (New York symbol ADM; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 658.8 million; Market cap: $22.4 billion; Priceto- sales ratio: 0.2; Dividend yield: 2.2%; TSINetwork Rating: Above Average; www.adm.com) is looking to sell its cocoa business, which sells cocoa powder, cocoa butter and related ingredients to chocolate and confectionery makers. This operation accounts for about 4% of the company’s sales.

The cocoa business’s profits have suffered lately, because high inventories have depressed prices. Selling it would give Archer around $2 billion that it can put toward its upcoming $3.4-billion purchase of the remaining 80.2% of GrainCorp, a leading Australian grain-storage and shipping company.

Archer Daniels Midland is a buy.

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