DAVENPORT & Co LLC raised its stake in DowDuPont Inc (NYSE:DWDP) by 27.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 947,018 shares of the company’s stock after buying an additional 203,522 shares during the period. DAVENPORT & Co LLC’s holdings in DowDuPont were worth $60,903,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of DWDP. Ruffer LLP grew its holdings in shares of DowDuPont by 22,779.8% during the 2nd quarter. Ruffer LLP now owns 3,412,744 shares of the company’s stock valued at $225,087,000 after purchasing an additional 3,397,828 shares during the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of DowDuPont by 23.1% during the 1st quarter. Epoch Investment Partners Inc. now owns 8,638,870 shares of the company’s stock valued at $550,383,000 after purchasing an additional 1,621,876 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of DowDuPont by 41.8% during the 2nd quarter. Bank of Montreal Can now owns 3,903,088 shares of the company’s stock valued at $257,292,000 after purchasing an additional 1,149,757 shares during the last quarter. Gluskin Sheff & Assoc Inc. bought a new position in shares of DowDuPont during the 1st quarter valued at $59,025,000. Finally, American Century Companies Inc. grew its holdings in shares of DowDuPont by 65.6% during the 2nd quarter. American Century Companies Inc. now owns 2,228,118 shares of the company’s stock valued at $146,878,000 after purchasing an additional 882,544 shares during the last quarter. 69.42% of the stock is currently owned by hedge funds and other institutional investors.
In other DowDuPont news, General Counsel Charles J. Kalil sold 100,645 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $70.75, for a total transaction of $7,120,633.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward D. Breen purchased 29,580 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were purchased at an average cost of $67.61 per share, with a total value of $1,999,903.80. The disclosure for this purchase can be found here. Corporate insiders own 0.42% of the company’s stock.
DowDuPont (NYSE:DWDP) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.08. The business had revenue of $24.25 billion during the quarter, compared to analysts’ expectations of $23.71 billion. DowDuPont had a net margin of 2.62% and a return on equity of 8.46%. The company’s revenue was up 75.3% compared to the same quarter last year. As a group, equities research analysts forecast that DowDuPont Inc will post 4.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.55%. DowDuPont’s payout ratio is currently 44.71%.
DWDP has been the topic of several recent research reports. Citigroup reaffirmed a “buy” rating and set a $74.00 target price (down previously from $79.00) on shares of DowDuPont in a report on Thursday. ValuEngine lowered shares of DowDuPont from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Nomura lowered shares of DowDuPont from a “buy” rating to a “neutral” rating and reduced their target price for the company from $81.00 to $76.00 in a report on Wednesday, September 26th. BNP Paribas initiated coverage on shares of DowDuPont in a report on Tuesday, October 2nd. They set a “neutral” rating and a $75.00 target price on the stock. Finally, UBS Group increased their target price on shares of DowDuPont from $86.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. DowDuPont currently has a consensus rating of “Buy” and a consensus price target of $80.31.
DowDuPont Company Profile
DowDuPont Inc, through its subsidiaries, engages in agriculture, materials science, and specialty products businesses worldwide. The company's Agriculture segment develops and sells hybrid corn seed and soybean seed varieties; canola, cotton, sunflower, sorghum, wheat, and rice seeds; silage inoculants; and weed control, disease control, and insect control products.
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