Premier Asset Management LLC bought a new position 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 & Exchange Commission. The fund bought 17,572 shares of the company’s stock, valued at approximately $1,217,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC bought a new stake in shares of Dow Chemical during the third quarter worth $101,000. Winfield Associates Inc. acquired a new stake in shares of Dow Chemical during the third quarter worth $103,000. Peddock Capital Advisors LLC acquired a new stake in shares of Dow Chemical during the third quarter worth $106,000. AllSquare Wealth Management LLC acquired a new stake in shares of Dow Chemical during the third quarter worth $108,000. Finally, NewSquare Capital LLC acquired a new stake in shares of Dow Chemical during the third quarter worth $109,000. Institutional investors own 68.75% of the company’s stock.
Dow Chemical Company (NYSE:DWDP) opened at $75.41 on Friday. Dow Chemical Company has a 52 week low of $64.01 and a 52 week high of $76.34. 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 stock has a market capitalization of $176,458.66, a PE ratio of 20.60, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16.
Dow Chemical (NYSE:DWDP) last posted its earnings results on Thursday, November 2nd. The company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. Dow Chemical had a return on equity of 9.73% and a net margin of 5.01%. The firm had revenue of $18.29 billion during the quarter, compared to analysts’ expectations of $18.24 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. equities research analysts predict that Dow Chemical Company will post 3.34 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders 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 dividend on an annualized basis and a yield of 2.02%. Dow Chemical’s payout ratio is 73.08%.
A number of equities research analysts recently commented on DWDP shares. Zacks Investment Research cut Dow Chemical from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 27th. Morgan Stanley lifted their price objective on Dow Chemical from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Credit Suisse Group reaffirmed an “outperform” rating and set a $79.00 price objective (up 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. Jefferies Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of Dow Chemical in a research note on Sunday, October 8th. Finally, UBS Group lifted their price objective on Dow Chemical from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the stock. Dow Chemical currently has an average rating of “Buy” and a consensus target price of $80.21.
In other Dow Chemical news, insider Andrew N. Liveris sold 9,664 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $13,536,046.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 495,951 shares of company stock valued at $35,502,729. Insiders own 0.89% of the company’s stock.
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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