First Manhattan Co. bought a new stake in shares of DowDuPont Inc (NASDAQ:DWDP) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 424,857 shares of the company’s stock, valued at approximately $29,412,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. TCI Wealth Advisors Inc. bought a new position in DowDuPont in the third quarter worth about $973,000. Gilman Hill Asset Management LLC bought a new position in DowDuPont in the third quarter worth about $1,088,000. Barometer Capital Management Inc. bought a new position in DowDuPont in the third quarter worth about $4,701,000. State Treasurer State of Michigan bought a new position in DowDuPont in the third quarter worth about $49,017,000. Finally, APG Asset Management N.V. bought a new position in DowDuPont in the third quarter worth about $257,365,000.
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In other news, insider Jeanmarie F. Desmond sold 6,708 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $71.01, for a total transaction of $476,335.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Charles J. Kalil sold 78,895 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $71.00, for a total value of $5,601,545.00. The disclosure for this sale can be found here.
A number of equities research analysts recently commented on DWDP shares. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $73.00 target price on shares of DowDuPont in a research report on Friday. Credit Suisse Group upped their target price on DowDuPont from $79.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. UBS AG upped their target price on DowDuPont from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Cowen and Company started coverage on DowDuPont in a research report on Friday, September 1st. They issued a “market perform” rating on the stock. Finally, Monness Crespi & Hardt started coverage on DowDuPont in a research report on Tuesday, September 12th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have issued a buy rating to the company. DowDuPont presently has an average rating of “Buy” and an average target price of $79.72.
DowDuPont Inc (NASDAQ DWDP) opened at $70.46 on Tuesday. DowDuPont Inc has a 52 week low of $64.01 and a 52 week high of $73.85.
DowDuPont (NASDAQ:DWDP) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. The firm had revenue of $18.29 billion during the quarter, compared to analyst estimates of $18.24 billion. During the same period in the prior year, the company posted $0.91 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Tuesday, November 14th.
DowDuPont Inc is a holding company formed through the merger of equals between The Dow Chemical Company and E. I. du Pont de Nemours and Company (DuPont). The Company’s business divisions include Agriculture division, Material Science division, and a Specialty Products division. The Agriculture Division offers a complete portfolio of products and technologies, and a pipeline of germplasm, traits and crop protection.
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