Patten & Patten Inc. TN decreased its holdings in shares of DowDuPont Inc (NYSE:DWDP) by 1.6% in the 1st quarter, HoldingsChannel reports. The fund owned 117,111 shares of the company’s stock after selling 1,917 shares during the period. Patten & Patten Inc. TN’s holdings in DowDuPont were worth $6,243,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of DWDP. Norges Bank acquired a new position in DowDuPont during the fourth quarter worth about $1,073,626,000. Oregon Public Employees Retirement Fund raised its stake in DowDuPont by 5,163.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,415,618 shares of the company’s stock worth $251,000 after acquiring an additional 13,160,717 shares in the last quarter. Geode Capital Management LLC raised its stake in DowDuPont by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 27,423,521 shares of the company’s stock worth $1,463,987,000 after acquiring an additional 1,648,165 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in DowDuPont by 1,905.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,586,591 shares of the company’s stock worth $84,851,000 after acquiring an additional 1,507,496 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in DowDuPont by 13.3% during the fourth quarter. Macquarie Group Ltd. now owns 12,226,539 shares of the company’s stock worth $653,882,000 after acquiring an additional 1,438,375 shares in the last quarter. 67.84% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. Citigroup downgraded DowDuPont from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $60.00 to $40.00 in a research note on Tuesday, April 2nd. SunTrust Banks lowered their price objective on DowDuPont to $41.00 and set a “positive” rating for the company in a research note on Monday, April 8th. BMO Capital Markets lowered their price objective on DowDuPont from $67.00 to $46.00 and set an “outperform” rating for the company in a research note on Tuesday, April 2nd. Zacks Investment Research downgraded DowDuPont from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Finally, Royal Bank of Canada downgraded DowDuPont from a “top pick” rating to a “sector perform” rating and lowered their price objective for the company from $61.00 to $40.00 in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. DowDuPont currently has a consensus rating of “Hold” and an average target price of $55.75.
NYSE:DWDP opened at $30.94 on Friday. The company has a market cap of $73.88 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 1.50 and a beta of 1.29. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.72 and a quick ratio of 1.14. DowDuPont Inc has a fifty-two week low of $30.06 and a fifty-two week high of $48.34.
DowDuPont (NYSE:DWDP) last released its earnings results on Thursday, May 2nd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.14. The business had revenue of $19.65 billion during the quarter, compared to the consensus estimate of $19.47 billion. DowDuPont had a net margin of 3.88% and a return on equity of 9.05%. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 EPS. On average, sell-side analysts expect that DowDuPont Inc will post 2.14 EPS for the current year.
The company also recently announced a dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, April 26th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, May 2nd. DowDuPont’s dividend payout ratio is presently 13.63%.
DowDuPont Company Profile
DowDuPont Inc, through its subsidiaries, engages in agriculture, materials science, and specialty products businesses in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. The company's Agriculture segment produces, and sells hybrid corn seed and soybean seed varieties; sunflowers, wheat, alfalfa, canola, cotton, rice, and sorghum; silage inoculants; and crop protection products that include weed control, disease control, and insect control.
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