Independence Trust CO Purchases New Position in DowDuPont Inc (DWDP)
Independence Trust CO purchased a new position in shares of DowDuPont Inc (NASDAQ:DWDP) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 15,315 shares of the company’s stock, valued at approximately $1,060,000. DowDuPont accounts for approximately 1.2% of Independence Trust CO’s investment portfolio, making the stock its 23rd largest holding.
Several other hedge funds have also recently added to or reduced their stakes in the stock. APG Asset Management N.V. purchased a new position in shares of DowDuPont during the 3rd quarter worth about $257,365,000. Korea Investment CORP purchased a new position in shares of DowDuPont during the 3rd quarter worth about $146,277,000. Strs Ohio purchased a new position in shares of DowDuPont during the 3rd quarter worth about $105,984,000. Meyer Handelman Co. purchased a new position in shares of DowDuPont during the 3rd quarter worth about $84,640,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of DowDuPont during the 3rd quarter worth about $83,643,000.
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Shares of DowDuPont Inc (NASDAQ DWDP) opened at $71.14 on Wednesday. DowDuPont Inc has a twelve month low of $64.01 and a twelve month high of $73.85.
DowDuPont (NASDAQ:DWDP) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. The business had revenue of $18.29 billion during the quarter, compared to the consensus estimate of $18.24 billion. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm 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 paid a dividend of $0.38 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.14%.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of DowDuPont from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Nomura boosted their price objective on shares of DowDuPont from $77.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, September 13th. Citigroup Inc. boosted their price objective on shares of DowDuPont from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, September 13th. HSBC Holdings plc assumed coverage on shares of DowDuPont in a research report on Tuesday, September 26th. They issued a “hold” rating for the company. Finally, UBS AG boosted their price objective on shares of DowDuPont from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the company’s stock. DowDuPont presently has an average rating of “Buy” and a consensus target price of $80.12.
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, and a pipeline of germplasm, traits and crop protection.
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