QUINCY, Ill. - ADM Animal Nutrition, a division of Archer Daniels Midland Company (NYSE: NYSE:ADM), has expanded its recall of animal feed products due to potentially elevated levels of magnesium, sodium, calcium, and phosphorus, which could pose health risks to various animals. The recall, which was initially announced on March 30, 2024, now includes additional lots of feed for chickens, swine, and rabbits.
The affected products include various formulations under the Pen Pals, MaxLean, ShowTec, and MoorMan's ShowTec brands. These products were distributed in several states across the United States between January 16, 2024, and March 15, 2024. The lot numbers, product sizes, and specific species impacted are detailed in the recall notice.
The elevated levels of certain minerals can lead to serious health issues for the animals consuming these feeds. For chickens, high sodium levels can result in increased water consumption, reduced feed efficiency, decreased egg production, and growth rate, and can be fatal.
Swine may experience reduced feed intake and feed conversion due to high calcium levels, while rabbits could suffer from loose stools, reduced growth rate, and weakness because of excess magnesium and sodium.
ADM has received several complaints from customers reporting low consumption and other adverse effects in animals that consumed the recalled products. The company advises customers who have purchased the recalled feed to immediately discontinue its use and return it to their distributor or directly to ADM Animal Nutrition for a full refund.
The recall is a precautionary measure to prevent further potential health risks to animals. Customers seeking more information or with inquiries can contact ADM Animal Nutrition at the provided phone number during specified business hours. This recall expansion is based on a press release statement issued by ADM.
InvestingPro Insights
ADM Animal Nutrition's parent company, Archer Daniels Midland Company, has shown a robust financial performance in the recent past. According to InvestingPro data, ADM has a market capitalization of $31.56 billion and an attractive price-to-earnings (P/E) ratio of 9.76, which is further adjusted to 8.61 for the last twelve months as of Q4 2023.
This indicates that the company is trading at a low earnings multiple, which is an InvestingPro Tip highlighting the stock's potential value for investors.
Moreover, ADM has a long-standing history of rewarding shareholders. The company has not only maintained but also increased its dividend payments for 54 consecutive years, demonstrating a strong commitment to returning value to its shareholders. This is reinforced by a high shareholder yield, which is another InvestingPro Tip that emphasizes the company's dedication to shareholder returns.
Despite the current recall issue, ADM's financial health appears solid, with a dividend yield of 3.17% as of the latest data. The company has a strong one-month price total return of 15.06%, suggesting positive recent market sentiment.
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