DowDuPont is the 27th biggest stock in OTPP’s portfolio
By Diego Flammini
Staff Writer
Farms.com
The group responsible for administering the pension of Ontario’s 323,000 active and retired teachers has increased its presence in the ag industry.
The Ontario Teachers’ Pension Plan Board (OTPP) increased its shares of DowDuPont by 201.6 per cent in the second quarter of 2018, Marea Informative reports.
DowDuPont’s stock opened trading today at US$68.48 per share, MarketWatch reported.
In total, OTPP owns about US$59.4 million worth of DowDuPont holdings, making the agribusiness the 27th largest stock in the OTPP’s portfolio.
The teachers’ expanded presence in the ag industry could be a sign the sector is thriving, said Ann Lamont, a cash crop producer from Middlesex County.
“They obviously feel like agriculture is a viable industry to invest in or else they wouldn’t buy into the company,” she told Farms.com. “They clearly see an opportunity for growth and decided to act on it.”
While the OTPP bought more shares of DowDuPont, it also sold off shares of another ag-related business.
The board devested almost 40 per cent of its holdings in Union Pacific Railroad, which transports grain, fertilizers and other industry products.
OTPP now owns a US$1.05-million stake in the company, Marea Informative reported.
Union Pacific’s stock opened trading today at US163.75 per share, MarketWatch reported.