Granite Investment Advisors LLC Raises Position in DowDuPont Inc (DWDP)
Granite Investment Advisors LLC increased its position in DowDuPont Inc (NYSE:DWDP) by 558.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,485 shares of the company’s stock after purchasing an additional 35,188 shares during the quarter. Granite Investment Advisors LLC’s holdings in DowDuPont were worth $2,955,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of DowDuPont by 0.7% during the fourth quarter. BlackRock Inc. now owns 156,234,472 shares of the company’s stock valued at $11,127,020,000 after acquiring an additional 1,138,483 shares during the period. JPMorgan Chase & Co. bought a new position in shares of DowDuPont during the third quarter valued at $2,095,726,000. Bank of New York Mellon Corp bought a new position in shares of DowDuPont during the third quarter valued at $1,920,750,000. Geode Capital Management LLC lifted its holdings in shares of DowDuPont by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 23,283,514 shares of the company’s stock valued at $1,654,570,000 after acquiring an additional 797,843 shares during the period. Finally, Wells Fargo & Company MN bought a new position in shares of DowDuPont during the third quarter valued at $1,111,269,000. 70.41% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Ronald C. Edmonds sold 15,000 shares of DowDuPont stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $71.83, for a total transaction of $1,077,450.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Charles J. Kalil sold 69,400 shares of DowDuPont stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $72.66, for a total value of $5,042,604.00. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.
DowDuPont (NYSE:DWDP) last posted its earnings results on Thursday, February 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.16. The company had revenue of $20.07 billion during the quarter, compared to analyst estimates of $19.46 billion. DowDuPont had a return on equity of 8.21% and a net margin of 2.34%. The firm’s revenue was up 54.1% compared to the same quarter last year. equities research analysts predict that DowDuPont Inc will post 4.13 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.52 annualized dividend and a dividend yield of 2.24%. DowDuPont’s payout ratio is currently 96.82%.
A number of analysts have recently weighed in on the company. ValuEngine upgraded DowDuPont from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Jefferies Group restated a “buy” rating and issued a $85.00 target price on shares of DowDuPont in a research note on Friday, February 2nd. Zacks Investment Research lowered DowDuPont from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays lowered their target price on DowDuPont from $80.00 to $79.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Finally, Nomura raised their target price on DowDuPont from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $80.71.
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DowDuPont Company Profile
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, traits and crop protection.
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