Nikko Asset Management Americas Inc. Raises Stake in DowDuPont Inc (NYSE:DWDP)
Nikko Asset Management Americas Inc. lifted its position in DowDuPont Inc (NYSE:DWDP) by 86.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 353,328 shares of the company’s stock after purchasing an additional 164,304 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in DowDuPont were worth $18,836,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of DWDP. PRW Wealth Management LLC purchased a new position in shares of DowDuPont during the fourth quarter valued at approximately $26,000. Capital Financial Planning LLC purchased a new position in shares of DowDuPont during the fourth quarter valued at approximately $36,000. Evolution Wealth Advisors LLC purchased a new position in shares of DowDuPont during the fourth quarter valued at approximately $38,000. Covenant Multifamily Offices LLC purchased a new position in shares of DowDuPont during the first quarter valued at approximately $40,000. Finally, Clarfeld Financial Advisors LLC purchased a new position in shares of DowDuPont during the fourth quarter valued at approximately $43,000. 67.74% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. BMO Capital Markets boosted their price target on DowDuPont from $198.00 to $201.00 and gave the company an “outperform” rating in a report on Tuesday, February 26th. Royal Bank of Canada cut their target price on DowDuPont to $192.00 and set a “top pick” rating on the stock in a research report on Tuesday, March 19th. Citigroup downgraded DowDuPont from a “buy” rating to a “neutral” rating and cut their target price for the company from $180.00 to $120.00 in a research report on Tuesday, April 2nd. Goldman Sachs Group assumed coverage on shares of DowDuPont in a report on Friday, March 29th. They issued a “neutral” rating and a $126.00 price target on the stock. Finally, Jefferies Financial Group lowered their price target on shares of DowDuPont from $198.00 to $186.00 and set a “buy” rating on the stock in a report on Friday, March 29th. 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 company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $165.45.
DowDuPont (NYSE:DWDP) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $2.52 EPS for the quarter, beating the Zacks’ consensus estimate of $2.10 by $0.42. DowDuPont had a net margin of 3.88% and a return on equity of 9.05%. The firm had revenue of $19.65 billion for the quarter, compared to the consensus estimate of $19.47 billion. During the same period in the prior year, the firm posted $3.36 EPS. The firm’s revenue was down 8.7% compared to the same quarter last year. On average, equities analysts predict that DowDuPont Inc will post 2.14 EPS for the current fiscal year.
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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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