DAVENPORT & Co LLC Acquires 203,522 Shares of DowDuPont Inc (DWDP)

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 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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Institutional Ownership by Quarter for DowDuPont (NYSE:DWDP)

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