Traders Buy DowDuPont Inc (DWDP) on Weakness
Traders bought shares of DowDuPont Inc (NASDAQ:DWDP) on weakness during trading hours on Friday. $174.14 million flowed into the stock on the tick-up and $118.97 million flowed out of the stock on the tick-down, for a money net flow of $55.17 million into the stock. Of all stocks tracked, DowDuPont had the 5th highest net in-flow for the day. DowDuPont traded down ($0.88) for the day and closed at $71.16
A number of equities analysts recently issued reports on DWDP shares. Morgan Stanley restated an “overweight” rating and issued a $77.00 target price on shares of DowDuPont in a report on Wednesday, September 6th. Susquehanna Bancshares Inc started coverage on DowDuPont in a report on Tuesday, September 5th. They issued a “positive” rating and a $80.00 target price on the stock. Nomura lifted their target price on DowDuPont from $77.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, September 13th. Edward Jones started coverage on DowDuPont in a report on Friday, September 1st. They issued a “hold” rating on the stock. Finally, J P Morgan Chase & Co started coverage on DowDuPont in a report on Friday, September 15th. They issued an “overweight” rating and a $80.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. DowDuPont has an average rating of “Buy” and an average price target of $80.12.
DowDuPont (NASDAQ:DWDP) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. The firm had revenue of $18.29 billion for the quarter, compared to analyst estimates of $18.24 billion. DowDuPont’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a dividend of $0.38 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.14%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TCI Wealth Advisors Inc. acquired a new stake in DowDuPont during the third quarter valued at $973,000. Gilman Hill Asset Management LLC acquired a new stake in DowDuPont during the third quarter valued at $1,088,000. Barometer Capital Management Inc. acquired a new stake in DowDuPont during the third quarter valued at $4,701,000. Sit Investment Associates Inc. acquired a new stake in DowDuPont during the third quarter valued at $52,761,000. Finally, Winslow Evans & Crocker Inc. acquired a new stake in DowDuPont during the third quarter valued at $662,000.
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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