Piedmont Investment Advisors Inc. cut its holdings in shares of DowDuPont Inc (NYSE:DWDP) by 65.0% during the third quarter, HoldingsChannel reports. The firm owned 41,351 shares of the company’s stock after selling 76,932 shares during the period. Piedmont Investment Advisors Inc.’s holdings in DowDuPont were worth $2,659,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DWDP. Bristlecone Advisors LLC increased its position in shares of DowDuPont by 40.9% in the 3rd quarter. Bristlecone Advisors LLC now owns 11,596 shares of the company’s stock valued at $746,000 after acquiring an additional 3,365 shares during the period. Tower Bridge Advisors increased its position in shares of DowDuPont by 4.1% in the 3rd quarter. Tower Bridge Advisors now owns 253,557 shares of the company’s stock valued at $16,306,000 after acquiring an additional 10,091 shares during the period. Neville Rodie & Shaw Inc. increased its position in shares of DowDuPont by 4.6% in the 3rd quarter. Neville Rodie & Shaw Inc. now owns 312,922 shares of the company’s stock valued at $20,124,000 after acquiring an additional 13,692 shares during the period. Berkshire Asset Management LLC PA increased its position in shares of DowDuPont by 30.7% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 17,130 shares of the company’s stock valued at $1,102,000 after acquiring an additional 4,019 shares during the period. Finally, Patriot Wealth Management Inc. increased its position in shares of DowDuPont by 2.2% in the 3rd quarter. Patriot Wealth Management Inc. now owns 139,502 shares of the company’s stock valued at $8,971,000 after acquiring an additional 3,012 shares during the period. 68.61% of the stock is currently owned by institutional investors and hedge funds.

DWDP stock opened at $56.37 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.05 and a current ratio of 1.64. DowDuPont Inc has a 52-week low of $51.32 and a 52-week high of $77.08. The stock has a market cap of $134.62 billion, a PE ratio of 16.58, a PEG ratio of 1.39 and a beta of 1.48.

DowDuPont (NYSE:DWDP) last posted its earnings results on Thursday, November 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. DowDuPont had a net margin of 2.45% and a return on equity of 9.38%. The business had revenue of $20.12 billion for the quarter, compared to analyst estimates of $20.24 billion. During the same period in the prior year, the company posted $0.55 EPS. The company’s revenue for the quarter was up 31.1% on a year-over-year basis. Sell-side analysts forecast that DowDuPont Inc will post 4.14 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, November 29th. DowDuPont’s payout ratio is currently 44.71%.

In other 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 transaction of $7,120,633.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

DWDP has been the topic of several analyst reports. Citigroup reaffirmed a “buy” rating and set a $74.00 price target (down from $79.00) on shares of DowDuPont in a research report on Thursday, October 11th. 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, October 19th. TheStreet downgraded DowDuPont from a “b-” rating to a “c+” rating in a research report on Thursday, November 1st. JPMorgan Chase & Co. cut their price target on DowDuPont from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, November 2nd. Finally, ValuEngine downgraded DowDuPont from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $78.47.

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DowDuPont Profile

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.

Further Reading: Buyback

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Institutional Ownership by Quarter for DowDuPont (NYSE:DWDP)

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