DowDuPont (DWDP) Shares Gap Down to $58.58

DowDuPont Inc (NYSE:DWDP)’s share price gapped down before the market opened on Friday . The stock had previously closed at $59.87, but opened at $58.58. DowDuPont shares last traded at $57.49, with a volume of 13993237 shares traded.

DWDP has been the topic of several research analyst reports. Stephens downgraded DowDuPont from an “overweight” rating to a “hold” rating and set a $63.00 price target on the stock. in a research report on Friday. Deutsche Bank reaffirmed a “buy” rating and issued a $72.00 price target on shares of DowDuPont in a research report on Friday, October 12th. Citigroup reaffirmed a “buy” rating and issued a $74.00 price target (down from $79.00) on shares of DowDuPont in a research report on Thursday, October 11th. BNP Paribas initiated coverage on DowDuPont in a research report on Tuesday, October 2nd. They issued a “neutral” rating and a $75.00 price target on the stock. Finally, ValuEngine downgraded DowDuPont from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $79.06.

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.15 and a current ratio of 1.70. The company has a market cap of $133.90 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.38 and a beta of 1.35.

DowDuPont (NYSE:DWDP) last released its earnings results on Thursday, August 2nd. The company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.08. DowDuPont had a net margin of 2.62% and a return on equity of 8.46%. The business had revenue of $24.25 billion during the quarter, compared to analysts’ expectations of $23.71 billion. The business’s revenue was up 75.3% on a year-over-year basis. Equities analysts expect that DowDuPont Inc will post 4.16 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Thursday, November 29th. DowDuPont’s payout ratio is presently 44.71%.

In related news, General Counsel Charles J. Kalil sold 100,645 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $70.75, for a total value of $7,120,633.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edward D. Breen bought 29,580 shares of DowDuPont stock in a transaction that occurred on Wednesday, August 8th. The stock was bought at an average price of $67.61 per share, with a total value of $1,999,903.80. The disclosure for this purchase can be found here. 0.42% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its stake in DowDuPont by 105.0% during the first quarter. Millennium Management LLC now owns 421,169 shares of the company’s stock worth $26,833,000 after purchasing an additional 215,687 shares during the period. Private Capital Group LLC lifted its stake in DowDuPont by 687.0% during the first quarter. Private Capital Group LLC now owns 6,619 shares of the company’s stock worth $422,000 after purchasing an additional 5,778 shares during the period. Griffin Asset Management Inc. lifted its stake in DowDuPont by 1.9% during the first quarter. Griffin Asset Management Inc. now owns 72,980 shares of the company’s stock worth $4,650,000 after purchasing an additional 1,329 shares during the period. NEXT Financial Group Inc lifted its stake in DowDuPont by 16.5% during the first quarter. NEXT Financial Group Inc now owns 14,140 shares of the company’s stock worth $901,000 after purchasing an additional 2,000 shares during the period. Finally, Lara May & Associates LLC bought a new position in DowDuPont during the first quarter worth about $199,000. Institutional investors and hedge funds own 69.43% of the company’s stock.

About DowDuPont (NYSE:DWDP)

DowDuPont Inc, through its subsidiaries, engages in agriculture, materials science, and specialty products businesses worldwide. The company's Agriculture segment develops and sells hybrid corn seed and soybean seed varieties; canola, cotton, sunflower, sorghum, wheat, and rice seeds; silage inoculants; and weed control, disease control, and insect control products.

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