King Wealth Management Group LLC bought a new stake in Dow Chemical Company (The) (NYSE:DWDP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,953 shares of the company’s stock, valued at approximately $550,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DWDP. Tradewinds Capital Management LLC acquired a new position in shares of Dow Chemical during the 3rd quarter worth approximately $101,000. Winfield Associates Inc. acquired a new position in shares of Dow Chemical during the 3rd quarter worth approximately $103,000. AllSquare Wealth Management LLC acquired a new position in shares of Dow Chemical during the 3rd quarter worth approximately $108,000. NewSquare Capital LLC acquired a new position in shares of Dow Chemical during the 3rd quarter worth approximately $109,000. Finally, Mountain Capital Investment Advisors Inc acquired a new position in shares of Dow Chemical during the 3rd quarter worth approximately $114,000. Hedge funds and other institutional investors own 68.74% of the company’s stock.
Several research analysts have weighed in on DWDP shares. Citigroup boosted their price target on Dow Chemical from $75.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, September 13th. Zacks Investment Research lowered Dow Chemical from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 27th. Morgan Stanley boosted their price target on Dow Chemical from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Credit Suisse Group reaffirmed an “outperform” rating and set a $79.00 price target (up previously 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, Jefferies Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Dow Chemical in a research report on Sunday, October 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $80.21.
In related news, insider Jeanmarie F. Desmond sold 6,708 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Charles J. Kalil sold 78,895 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $71.00, for a total value of $5,601,545.00. The disclosure for this sale can be found here. Insiders sold a total of 495,951 shares of company stock valued at $35,502,729 over the last 90 days. 0.89% of the stock is currently owned by corporate insiders.
Dow Chemical Company (NYSE:DWDP) opened at $74.45 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.38 and a current ratio of 2.01. The firm has a market capitalization of $170,936.28, a P/E ratio of 35.79, a P/E/G ratio of 2.10 and a beta of 1.16. Dow Chemical Company has a 1-year low of $56.76 and a 1-year high of $74.74.
Dow Chemical (NYSE:DWDP) last posted its earnings results on Thursday, November 2nd. The company reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. The business had revenue of $18.29 billion for the quarter, compared to analyst estimates of $18.24 billion. Dow Chemical had a return on equity of 9.73% and a net margin of 5.01%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. analysts anticipate that Dow Chemical Company will post 3.36 earnings per share for the current fiscal year.
The company also recently declared 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 was Tuesday, November 14th. This represents a $1.52 annualized dividend and a yield of 2.04%. Dow Chemical’s dividend payout ratio (DPR) is presently 73.08%.
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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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