Boothbay Fund Management LLC bought a new position in shares of Dow Chemical Company (The) (NYSE:DWDP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,396 shares of the company’s stock, valued at approximately $720,000.
Other large investors have also recently made changes to their positions in the company. Taurus Asset Management LLC acquired a new position in Dow Chemical in the third quarter worth approximately $351,000. Carret Asset Management LLC acquired a new position in Dow Chemical in the third quarter worth approximately $10,647,000. Cadinha & Co. LLC acquired a new position in Dow Chemical in the third quarter worth approximately $2,024,000. Oppenheimer Asset Management Inc. acquired a new position in Dow Chemical in the third quarter worth approximately $21,339,000. Finally, First Republic Investment Management Inc. acquired a new position in Dow Chemical in the third quarter worth approximately $26,415,000. 68.75% of the stock is currently owned by hedge funds and other institutional investors.
Dow Chemical Company (NYSE:DWDP) opened at $75.41 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.38 and a current ratio of 2.01. Dow Chemical Company has a fifty-two week low of $64.01 and a fifty-two week high of $76.34. The company has a market cap of $176,014.05, a price-to-earnings ratio of 36.25, a PEG ratio of 2.16 and a beta of 1.16.
Dow Chemical (NYSE:DWDP) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Dow Chemical had a net margin of 5.01% and a return on equity of 9.73%. The business had revenue of $18.29 billion for the quarter, compared to analysts’ expectations of $18.24 billion. During the same period in the previous year, the company posted $0.91 EPS. Dow Chemical’s revenue was up 7.6% on a year-over-year basis. sell-side analysts predict that Dow Chemical Company will post 3.35 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Tuesday, November 14th. Dow Chemical’s dividend payout ratio is currently 73.08%.
In other news, insider Andrew N. Liveris sold 9,664 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $70.10, for a total transaction of $677,446.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Charles J. Kalil sold 78,895 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $71.00, for a total transaction of $5,601,545.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 495,951 shares of company stock worth $35,502,729. 0.89% of the stock is currently owned by corporate insiders.
Several research analysts have issued reports on DWDP shares. Royal Bank of Canada restated a “buy” rating and issued a $80.00 price target on shares of Dow Chemical in a research report on Wednesday, October 11th. Jefferies Group reiterated a “buy” rating and set a $80.00 price objective on shares of Dow Chemical in a research report on Sunday, October 8th. Deutsche Bank started coverage on shares of Dow Chemical in a research report on Thursday, October 5th. They set a “buy” rating and a $80.00 price objective on the stock. Argus started coverage on shares of Dow Chemical in a research report on Tuesday, September 19th. They set a “buy” rating and a $81.00 price objective on the stock. Finally, Vertical Research reiterated a “buy” rating and set a $79.00 price objective (up from $74.00) on shares of Dow Chemical in a research report on Saturday, September 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $80.21.
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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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