DowDuPont Inc (DWDP) Shares Sold by Cornerstone Advisory LLP
Cornerstone Advisory LLP reduced its holdings in shares of DowDuPont Inc (NYSE:DWDP) by 11.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,504 shares of the company’s stock after selling 850 shares during the quarter. Cornerstone Advisory LLP’s holdings in DowDuPont were worth $429,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Ruffer LLP increased its holdings in DowDuPont by 22,779.8% in the 2nd quarter. Ruffer LLP now owns 3,412,744 shares of the company’s stock worth $225,087,000 after purchasing an additional 3,397,828 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in DowDuPont by 38.4% during the first quarter. Dimensional Fund Advisors LP now owns 8,458,290 shares of the company’s stock worth $538,878,000 after purchasing an additional 2,344,766 shares during the period. Epoch Investment Partners Inc. grew its stake in DowDuPont by 23.1% during the first quarter. Epoch Investment Partners Inc. now owns 8,638,870 shares of the company’s stock worth $550,383,000 after purchasing an additional 1,621,876 shares during the period. Bank of Montreal Can grew its stake in DowDuPont by 41.8% during the second quarter. Bank of Montreal Can now owns 3,903,088 shares of the company’s stock worth $257,292,000 after purchasing an additional 1,149,757 shares during the period. Finally, Gluskin Sheff & Assoc Inc. acquired a new stake in DowDuPont during the first quarter worth approximately $59,025,000. Institutional investors and hedge funds own 69.49% of the company’s stock.
In other DowDuPont news, General Counsel Charles J. Kalil sold 100,645 shares of DowDuPont stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $70.75, for a total transaction of $7,120,633.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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. 0.42% of the stock is currently owned by company insiders.
DowDuPont (NYSE:DWDP) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.08. The company had revenue of $24.25 billion during the quarter, compared to analyst estimates of $23.71 billion. DowDuPont had a return on equity of 8.46% and a net margin of 2.62%. The company’s quarterly revenue was up 75.3% compared to the same quarter last year. sell-side analysts predict that DowDuPont Inc will post 4.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, August 30th. DowDuPont’s dividend payout ratio is 44.71%.
Several research analysts have issued reports on the company. ValuEngine upgraded DowDuPont from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. MED restated a “buy” rating and issued a $90.00 target price on shares of DowDuPont in a report on Tuesday, June 5th. Barclays dropped their target price on DowDuPont from $77.00 to $75.00 and set an “equal weight” rating on the stock in a report on Monday, August 6th. Finally, UBS Group raised their target price on DowDuPont from $86.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. DowDuPont currently has an average rating of “Buy” and an average price target of $81.65.
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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