TSP Capital Management Group LLC cut its position in Dow Chemical (NYSE:DWDP) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,217 shares of the company’s stock after selling 1,973 shares during the period. Dow Chemical comprises 2.6% of TSP Capital Management Group LLC’s portfolio, making the stock its 16th largest holding. TSP Capital Management Group LLC’s holdings in Dow Chemical were worth $5,429,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Certified Advisory Corp bought a new position in Dow Chemical during the fourth quarter valued at $101,000. Financial Gravity Companies Inc. bought a new stake in Dow Chemical during the 4th quarter valued at about $106,000. Delpha Capital Management LLC bought a new stake in Dow Chemical during the 4th quarter valued at about $122,000. Avestar Capital LLC bought a new stake in Dow Chemical during the 4th quarter valued at about $138,000. Finally, Trustcore Financial Services LLC purchased a new position in Dow Chemical during the 4th quarter valued at about $150,000. 69.54% of the stock is owned by hedge funds and other institutional investors.
DWDP has been the topic of a number of analyst reports. Barclays raised shares of Dow Chemical from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, January 31st. Morgan Stanley set a $80.00 target price on shares of Dow Chemical and gave the stock a “buy” rating in a research report on Wednesday, March 21st. Zacks Investment Research upgraded shares of Dow Chemical from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, January 30th. Bank of America decreased their price objective on shares of Dow Chemical from $88.00 to $84.00 and set a “buy” rating for the company in a research note on Tuesday, April 10th. Finally, HSBC upgraded shares of Dow Chemical from a “hold” rating to a “buy” rating in a research note on Wednesday, April 4th. Six research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $81.13.
Dow Chemical stock opened at $67.47 on Wednesday. The company has a market cap of $159.84 billion, a P/E ratio of 19.84, a P/E/G ratio of 1.73 and a beta of 1.30. The company has a current ratio of 1.87, a quick ratio of 1.21 and a debt-to-equity ratio of 0.29. Dow Chemical has a one year low of $60.38 and a one year high of $77.08.
Dow Chemical (NYSE:DWDP) last issued its quarterly earnings results on Thursday, May 3rd. The company reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. Dow Chemical had a return on equity of 8.01% and a net margin of 2.37%. The business had revenue of $21.51 billion during the quarter, compared to the consensus estimate of $21.31 billion. The firm’s revenue for the quarter was up 62.6% compared to the same quarter last year. sell-side analysts expect that Dow Chemical will post 4.19 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be paid a dividend of $0.38 per share. The ex-dividend date is Wednesday, May 30th. This represents a $1.52 dividend on an annualized basis and a yield of 2.25%. Dow Chemical’s payout ratio is currently 44.71%.
In other news, General Counsel Charles J. Kalil sold 69,400 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $72.66, for a total transaction of $5,042,604.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ronald C. Edmonds sold 15,000 shares of the company’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $71.83, for a total value of $1,077,450.00. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
About Dow Chemical
DowDuPont Inc, through its subsidiaries, engages in agriculture, materials science, and specialty products businesses worldwide. The company's Agriculture segment develops and sells hybrid corn seed and soybean seed varieties; canola, cotton, sunflower, sorghum, wheat, and rice seeds; silage inoculants; and weed control, disease control, and insect control products.
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