Brave Asset Management Inc. acquired a new stake in Dow Chemical Company (The) (NYSE:DWDP) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 25,660 shares of the company’s stock, valued at approximately $1,776,000.
Several other institutional investors and hedge funds also recently made changes to their positions in DWDP. JPMorgan Chase & Co. acquired a new stake in shares of Dow Chemical during the 3rd quarter worth about $2,095,726,000. Bank of New York Mellon Corp acquired a new position in Dow Chemical during the third quarter worth approximately $1,920,750,000. Wells Fargo & Company MN acquired a new position in Dow Chemical during the third quarter worth approximately $1,111,269,000. Third Point LLC acquired a new position in Dow Chemical during the third quarter worth approximately $1,041,116,000. Finally, Dupont Capital Management Corp acquired a new position in Dow Chemical during the third quarter worth approximately $884,806,000. Institutional investors and hedge funds own 68.75% of the company’s stock.
In other news, insider Andrew N. Liveris sold 187,402 shares of the company’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $72.23, for a total value of $13,536,046.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew N. Liveris sold 9,664 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $70.10, for a total value of $677,446.40. The disclosure for this sale can be found here. Insiders sold 495,951 shares of company stock valued at $35,502,729 over the last quarter. Insiders own 0.89% of the company’s stock.
Dow Chemical (NYSE:DWDP) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.55 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. Dow Chemical had a return on equity of 9.73% and a net margin of 5.01%. The business had revenue of $18.29 billion for the quarter, compared to the consensus estimate of $18.24 billion. During the same period in the prior year, the business earned $0.91 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. equities analysts predict that Dow Chemical Company will post 3.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 15th were paid a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $1.52 annualized dividend and a yield of 2.02%.
Several research analysts have commented on the company. ValuEngine raised Dow Chemical from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Royal Bank of Canada reissued a “buy” rating and issued a $86.00 target price on shares of Dow Chemical in a report on Friday, December 8th. Stephens began coverage on Dow Chemical in a report on Monday, December 4th. They issued an “overweight” rating and a $83.00 target price on the stock. Goldman Sachs Group began coverage on Dow Chemical in a report on Monday, December 4th. They issued a “buy” rating on the stock. Finally, SunTrust Banks reissued a “hold” rating and issued a $73.00 target price on shares of Dow Chemical in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the stock. Dow Chemical presently has a consensus rating of “Buy” and a consensus target price of $80.21.
Dow Chemical Company 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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