Hodges Capital Management Inc. acquired a new position in Dow Chemical Company (The) (NYSE:DWDP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 38,590 shares of the company’s stock, valued at approximately $2,672,000.
Several other large investors have also made changes to their positions in DWDP. Dupont Capital Management Corp acquired a new position in Dow Chemical during the third quarter worth about $884,806,000. Canada Pension Plan Investment Board bought a new stake in shares of Dow Chemical during the 3rd quarter valued at approximately $367,440,000. New York State Teachers Retirement System bought a new stake in shares of Dow Chemical during the 3rd quarter valued at approximately $268,542,000. APG Asset Management N.V. acquired a new position in Dow Chemical during the 3rd quarter worth approximately $257,365,000. Finally, Prudential Financial Inc. bought a new position in Dow Chemical in the 3rd quarter valued at approximately $230,040,000. Hedge funds and other institutional investors own 74.82% of the company’s stock.
Several brokerages have recently issued reports on DWDP. UBS AG upped their price target on shares of Dow Chemical from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Morgan Stanley boosted their price objective on Dow Chemical from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Zacks Investment Research raised Dow Chemical from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 1st. Credit Suisse Group reiterated an “outperform” rating and issued a $79.00 target price (up from $73.00) on shares of Dow Chemical in a research report on Thursday, October 12th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $80.00 price target on shares of Dow Chemical in a research note on Wednesday, October 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $79.72.
Dow Chemical Company (NYSE DWDP) opened at $70.92 on Monday. The company has a current ratio of 2.01, a quick ratio of 1.38 and a debt-to-equity ratio of 0.29. The stock has a market cap of $166,513.70, a PE ratio of 19.44, a PEG ratio of 2.31 and a beta of 1.17. Dow Chemical Company has a 1 year low of $53.68 and a 1 year high of $73.85.
Dow Chemical (NYSE:DWDP) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.55 earnings per share (EPS) for the quarter, hitting the 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 analyst estimates of $18.24 billion. During the same quarter in the prior year, the company earned $0.91 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. research analysts forecast that Dow Chemical Company will post 3.47 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.14%. Dow Chemical’s dividend payout ratio (DPR) is presently 73.08%.
In related news, General Counsel Charles J. Kalil sold 40,528 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $71.51, for a total value of $2,898,157.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew N. Liveris sold 49,449 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $71.63, for a total value of $3,542,031.87. The disclosure for this sale can be found here. Insiders have sold a total of 190,580 shares of company stock valued at $13,584,719 in the last quarter. Company 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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