AMG National Trust Bank acquired a new position in shares of Dow Chemical Company (The) (NYSE:DWDP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 54,559 shares of the company’s stock, valued at approximately $3,777,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dupont Capital Management Corp bought a new stake in Dow Chemical in the 3rd quarter valued at about $884,806,000. Canada Pension Plan Investment Board bought a new stake in Dow Chemical in the 3rd quarter valued at about $367,440,000. New York State Teachers Retirement System bought a new stake in Dow Chemical in the 3rd quarter valued at about $268,542,000. APG Asset Management N.V. bought a new stake in Dow Chemical in the 3rd quarter valued at about $257,365,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in Dow Chemical in the 3rd quarter valued at about $228,998,000. 68.81% of the stock is currently owned by hedge funds and other institutional investors.
Dow Chemical Company (DWDP) opened at $71.54 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.38 and a current ratio of 2.01. The company has a market capitalization of $168,783.47, a P/E ratio of 19.71, a P/E/G ratio of 2.42 and a beta of 1.15. Dow Chemical Company has a twelve month low of $55.24 and a twelve month high of $73.85.
Dow Chemical (NYSE:DWDP) last announced its earnings results on Thursday, November 2nd. The company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. The company had revenue of $18.29 billion during the quarter, compared to the consensus estimate of $18.24 billion. Dow Chemical had a return on equity of 9.73% and a net margin of 5.01%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 earnings per share. research analysts expect that Dow Chemical Company will post 3.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.12%. Dow Chemical’s dividend payout ratio (DPR) is 73.08%.
In other news, insider Andrew N. Liveris sold 187,402 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $72.23, for a total transaction of $13,536,046.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeanmarie F. Desmond sold 6,708 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $71.01, for a total value of $476,335.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 377,982 shares of company stock valued at $27,120,766. 0.89% of the stock is owned by corporate insiders.
DWDP has been the topic of several analyst reports. UBS upped their price target on Dow Chemical from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Morgan Stanley upped their price target on Dow Chemical from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Zacks Investment Research upgraded Dow Chemical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Stephens began coverage on shares of Dow Chemical in a research report on Monday. They issued an “overweight” rating and a $83.00 price objective on the stock. Finally, Credit Suisse Group restated an “outperform” rating and issued a $79.00 price objective (up from $73.00) on shares of Dow Chemical in a research report on Thursday, October 12th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $79.89.
Dow Chemical 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, traits and crop protection.
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