First Merchants Corp bought a new stake in Dow Chemical Company (The) (NYSE:DWDP) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 21,172 shares of the company’s stock, valued at approximately $1,466,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Curbstone Financial Management Corp bought a new stake in shares of Dow Chemical during the 3rd quarter worth $2,872,000. Eqis Capital Management Inc. bought a new stake in shares of Dow Chemical during the 3rd quarter worth $397,000. Neville Rodie & Shaw Inc. bought a new stake in shares of Dow Chemical during the 3rd quarter worth $15,334,000. McQueen Ball & Associates Inc. bought a new stake in shares of Dow Chemical during the 3rd quarter worth $650,000. Finally, Private Asset Management Inc. bought a new stake in shares of Dow Chemical during the 3rd quarter worth $1,953,000. Hedge funds and other institutional investors own 68.81% of the company’s stock.
Dow Chemical Company (NYSE DWDP) traded down $0.46 during midday trading on Wednesday, reaching $71.08. The company’s stock had a trading volume of 5,718,907 shares, compared to its average volume of 6,338,745. The firm has a market capitalization of $168,783.47, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.15. The company has a quick ratio of 1.38, a current ratio of 2.01 and a debt-to-equity ratio of 0.29. Dow Chemical Company has a 12 month low of $55.94 and a 12 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, hitting the consensus estimate of $0.55. The business had revenue of $18.29 billion for 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%. Dow Chemical’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. equities analysts expect that Dow Chemical Company will post 3.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Tuesday, November 14th. Dow Chemical’s payout ratio is currently 73.08%.
Several analysts have recently commented on the company. Stephens assumed coverage on Dow Chemical in a research report on Monday. They issued an “overweight” rating and a $83.00 target price for the company. Goldman Sachs Group initiated coverage on Dow Chemical in a research report on Monday. They issued a “buy” rating for the company. Cowen assumed coverage on Dow Chemical in a research report on Friday, September 1st. They set a “market perform” rating for the company. Monness Crespi & Hardt assumed coverage on Dow Chemical in a report on Tuesday, September 12th. They set a “neutral” rating on the stock. Finally, Argus assumed coverage on Dow Chemical in a report on Tuesday, September 19th. They set a “buy” rating and a $81.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the company. Dow Chemical presently has an average rating of “Buy” and a consensus target price of $79.89.
In other Dow Chemical news, insider Jeanmarie F. Desmond sold 6,708 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $71.01, for a total transaction of $476,335.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO James C. Jr. Collins sold 15,000 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $71.11, for a total transaction of $1,066,650.00. The disclosure for this sale can be found here. Insiders sold a total of 377,982 shares of company stock valued at $27,120,766 in the last 90 days. 0.89% of the stock is currently owned by corporate insiders.
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About Dow Chemical
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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