Traders Sell DowDuPont (DWDP) on Strength Following Analyst Downgrade
Investors sold shares of DowDuPont Inc (NYSE:DWDP) on strength during trading hours on Tuesday after SunTrust Banks lowered their price target on the stock to $41.00. $54.64 million flowed into the stock on the tick-up and $117.68 million flowed out of the stock on the tick-down, for a money net flow of $63.04 million out of the stock. Of all stocks tracked, DowDuPont had the 10th highest net out-flow for the day. DowDuPont traded up $0.08 for the day and closed at $38.22
Several other equities analysts have also recently weighed in on DWDP. Bank of America cut shares of DowDuPont from a “buy” rating to a “neutral” rating and set a $44.00 target price for the company. in a research note on Tuesday, April 2nd. Morgan Stanley lowered their target price on DowDuPont from $70.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. UBS Group assumed coverage on shares of DowDuPont in a research note on Wednesday, April 3rd. They set a “buy” rating and a $45.00 price target on the stock. JPMorgan Chase & Co. lowered shares of DowDuPont from an “overweight” rating to a “neutral” rating in a research report on Friday, February 1st. Finally, Jefferies Financial Group dropped their price objective on shares of DowDuPont from $66.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, March 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $60.70.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAM Holding AG purchased a new stake in DowDuPont during the 3rd quarter worth approximately $222,000. Capital International Inc. CA acquired a new position in shares of DowDuPont during the 3rd quarter valued at about $1,621,000. Capital Bank & Trust Co boosted its position in shares of DowDuPont by 7.7% during the 3rd quarter. Capital Bank & Trust Co now owns 121,007 shares of the company’s stock valued at $7,782,000 after acquiring an additional 8,682 shares during the last quarter. Capital Guardian Trust Co. grew its holdings in shares of DowDuPont by 19.4% in the third quarter. Capital Guardian Trust Co. now owns 21,401 shares of the company’s stock valued at $1,376,000 after purchasing an additional 3,476 shares during the period. Finally, Capital International Investors grew its holdings in shares of DowDuPont by 217.7% in the third quarter. Capital International Investors now owns 31,674,850 shares of the company’s stock valued at $2,037,010,000 after purchasing an additional 21,705,299 shares during the period. Institutional investors and hedge funds own 69.37% of the company’s stock.
DowDuPont (NYSE:DWDP) last posted its earnings results on Thursday, January 31st. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). The firm had revenue of $20.10 billion during the quarter, compared to analyst estimates of $21.11 billion. DowDuPont had a net margin of 4.47% and a return on equity of 9.59%. As a group, research analysts forecast that DowDuPont Inc will post 2.27 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 28th were given a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $1.52 dividend on an annualized basis and a yield of 3.98%. DowDuPont’s dividend payout ratio is currently 36.98%.
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DowDuPont Company Profile (NYSE:DWDP)
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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