Bluestein R H & Co. purchased a new position in shares of Dow Chemical Company (The) (NYSE:DWDP) during the third quarter, HoldingsChannel.com reports. The fund purchased 12,936 shares of the company’s stock, valued at approximately $896,000.
A number of other large investors have also added to or reduced their stakes in the stock. Tradewinds Capital Management LLC bought a new position in Dow Chemical during the third quarter worth about $101,000. Winfield Associates Inc. bought a new position in Dow Chemical during the third quarter worth about $103,000. AllSquare Wealth Management LLC bought a new position in Dow Chemical during the third quarter worth about $108,000. NewSquare Capital LLC bought a new position in Dow Chemical during the third quarter worth about $109,000. Finally, Ffcm LLC bought a new position in Dow Chemical in the 3rd quarter valued at about $114,000. 68.74% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Jeanmarie F. Desmond sold 6,708 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $71.01, for a total value of $476,335.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Andrew N. Liveris sold 187,402 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $72.23, for a total transaction of $13,536,046.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 495,951 shares of company stock worth $35,502,729. 0.89% of the stock is currently owned by corporate insiders.
Dow Chemical (NYSE:DWDP) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.55 earnings per share 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 company had revenue of $18.29 billion for the quarter, compared to the consensus estimate of $18.24 billion. During the same period last year, the company posted $0.91 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. sell-side analysts anticipate 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 paid a $0.38 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.02%. Dow Chemical’s payout ratio is currently 73.08%.
DWDP has been the topic of several recent analyst reports. Argus initiated coverage on shares of Dow Chemical in a report on Tuesday, September 19th. They issued a “buy” rating and a $81.00 target price on the stock. Vertical Research reissued a “buy” rating and issued a $79.00 target price (up from $74.00) on shares of Dow Chemical in a report on Saturday, September 16th. Citigroup raised their target price on shares of Dow Chemical from $75.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, September 13th. Nomura raised their target price on shares of Dow Chemical from $77.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, September 13th. Finally, Bank of America initiated coverage on shares of Dow Chemical in a report on Monday, September 11th. They issued a “buy” rating and a $78.00 target price on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have issued a buy rating to the company. Dow Chemical has an average rating of “Buy” and a consensus target price of $80.21.
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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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