Wellington Shields & Co. LLC purchased a new stake in Dow Chemical Company (The) (NYSE:DWDP) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 14,807 shares of the company’s stock, valued at approximately $1,025,000.
Other institutional investors also recently modified their holdings of the company. Dupont Capital Management Corp acquired a new stake in shares of Dow Chemical during the 3rd quarter worth approximately $884,806,000. Boston Partners acquired a new stake in shares of Dow Chemical during the 3rd quarter worth approximately $481,355,000. New York State Common Retirement Fund acquired a new stake in Dow Chemical in the 3rd quarter valued at approximately $423,511,000. Canada Pension Plan Investment Board acquired a new stake in Dow Chemical in the 3rd quarter valued at approximately $367,440,000. Finally, Principal Financial Group Inc. acquired a new stake in Dow Chemical in the 3rd quarter valued at approximately $319,529,000. 68.81% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Andrew N. Liveris sold 187,402 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $72.23, for a total transaction of $13,536,046.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Charles J. Kalil sold 78,895 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was 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. Insiders sold 377,982 shares of company stock valued at $27,120,766 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.
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. 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 during the quarter, compared to analysts’ expectations of $18.24 billion. During the same period in the prior year, the company earned $0.91 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. analysts anticipate that Dow Chemical Company will post 3.36 earnings per share for the current fiscal 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. The ex-dividend date is Tuesday, November 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.14%. Dow Chemical’s payout ratio is 73.08%.
DWDP has been the subject of several research reports. Sanford C. Bernstein assumed coverage on shares of Dow Chemical in a report on Friday, September 1st. They issued an “outperform” rating and a $79.00 target price for the company. Edward Jones assumed coverage on shares of Dow Chemical in a research note on Friday, September 1st. They issued a “hold” rating for the company. Cowen assumed coverage on shares of Dow Chemical in a research note on Friday, September 1st. They issued a “market perform” rating for the company. UBS assumed coverage on shares of Dow Chemical in a research note on Friday, September 1st. They issued a “buy” rating for the company. Finally, Nomura assumed coverage on shares of Dow Chemical in a research note on Sunday, September 3rd. They issued a “buy” rating and a $77.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have issued a buy rating to the stock. Dow Chemical currently has a consensus rating of “Buy” and an average price target of $79.89.
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Dow Chemical 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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