DAVENPORT & Co LLC boosted its holdings in shares of DowDuPont Inc (NYSE:DWDP) by 27.4% in the third quarter, HoldingsChannel.com reports. The fund owned 947,018 shares of the company’s stock after acquiring an additional 203,522 shares during the period. DAVENPORT & Co LLC’s holdings in DowDuPont were worth $60,903,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of DWDP. Ruffer LLP lifted its position in 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 acquiring an additional 3,397,828 shares during the period. Epoch Investment Partners Inc. lifted its position in 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 acquiring an additional 1,621,876 shares during the period. Bank of Montreal Can lifted its position in 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 acquiring an additional 1,149,757 shares during the period. Gluskin Sheff & Assoc Inc. purchased a new position in DowDuPont during the 1st quarter valued at about $59,025,000. Finally, American Century Companies Inc. lifted its position in 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 acquiring an additional 882,544 shares during the period. 69.42% of the stock is owned by institutional investors.
In related news, CEO Edward D. Breen purchased 29,580 shares of DowDuPont stock in a transaction dated Wednesday, August 8th. The stock was purchased at an average cost of $67.61 per share, for a total transaction of $1,999,903.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Charles J. Kalil sold 100,645 shares of DowDuPont stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $70.75, for a total transaction of $7,120,633.75. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.
A number of research analysts recently issued reports on the stock. ValuEngine raised shares of DowDuPont from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Citigroup lowered their price target on shares of DowDuPont from $81.00 to $79.00 and set a “buy” rating for the company in a research report on Friday, September 21st. Nomura lowered shares of DowDuPont from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $81.00 to $76.00 in a research note on Wednesday, September 26th. Barclays reduced their price objective on shares of DowDuPont from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note on Monday, August 6th. Finally, MED restated a “buy” rating and set a $90.00 price objective on shares of DowDuPont in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $80.31.
NYSE:DWDP opened at $59.66 on Friday. The stock has a market cap of $149.78 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.54 and a beta of 1.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.70 and a quick ratio of 1.15. DowDuPont Inc has a fifty-two week low of $58.81 and a fifty-two week high of $77.08.
DowDuPont (NYSE:DWDP) last released its quarterly earnings data on Thursday, August 2nd. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.08. The business had revenue of $24.25 billion during the quarter, compared to analyst estimates of $23.71 billion. DowDuPont had a net margin of 2.62% and a return on equity of 8.46%. The firm’s quarterly revenue was up 75.3% on a year-over-year basis. Equities research analysts expect that DowDuPont Inc will post 4.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 2.55%. DowDuPont’s dividend payout ratio is currently 44.71%.
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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