Ffcm LLC acquired a new stake in shares of Dow Chemical Company (The) (NYSE:DWDP) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,602 shares of the company’s stock, valued at approximately $114,000.
A number of other large investors also recently added to or reduced their stakes in DWDP. Bank of New York Mellon Corp bought a new stake in Dow Chemical during the 3rd quarter valued at $1,920,750,000. Dupont Capital Management Corp bought a new stake in Dow Chemical during the 3rd quarter valued at $884,806,000. Ameriprise Financial Inc. bought a new stake in Dow Chemical during the 3rd quarter valued at $839,246,000. Macquarie Group Ltd. bought a new stake in Dow Chemical during the 3rd quarter valued at $726,508,000. Finally, Boston Partners bought a new stake in Dow Chemical during the 3rd quarter valued at $481,355,000. Institutional investors and hedge funds own 68.74% of the company’s stock.
Shares of Dow Chemical Company (NYSE DWDP) opened at $71.44 on Wednesday. Dow Chemical Company has a 12 month low of $56.52 and a 12 month high of $73.85. The company has a quick ratio of 1.38, a current ratio of 2.01 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $168,736.67, a price-to-earnings ratio of 34.35, a PEG ratio of 2.42 and a beta of 1.15.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 15th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Tuesday, November 14th. Dow Chemical’s payout ratio is 73.08%.
Several brokerages have weighed in on DWDP. UBS Group lifted their target price on Dow Chemical from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Morgan Stanley lifted their target price on Dow Chemical from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Zacks Investment Research raised Dow Chemical from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Stephens began coverage on Dow Chemical in a research note on Monday, December 4th. They set an “overweight” rating and a $83.00 target price on the stock. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $79.00 target price (up previously from $73.00) on shares of Dow Chemical in a research note on Thursday, October 12th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $80.21.
In related news, insider Andrew N. Liveris sold 9,664 shares of Dow Chemical stock in a transaction on Friday, December 15th. The stock was sold at an average price of $70.10, for a total value of $677,446.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeanmarie F. Desmond sold 6,708 shares of Dow Chemical stock in a transaction on Wednesday, November 8th. The stock was 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. Insiders sold a total of 495,951 shares of company stock worth $35,502,729 over the last 90 days. Insiders own 0.89% of the company’s stock.
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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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