Assetmark Inc. acquired a new stake in shares of Dow Chemical Company (The) (NYSE:DWDP) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,299 shares of the company’s stock, valued at approximately $644,000.
A number of other hedge funds have also recently bought and sold shares of DWDP. Bank of New York Mellon Corp acquired a new position in Dow Chemical during the third quarter valued at approximately $1,920,750,000. Dupont Capital Management Corp acquired a new stake in shares of Dow Chemical in the third quarter worth $884,806,000. Ameriprise Financial Inc. acquired a new stake in shares of Dow Chemical in the third quarter worth $839,246,000. Macquarie Group Ltd. acquired a new stake in shares of Dow Chemical in the third quarter worth $726,508,000. Finally, Boston Partners acquired a new stake in shares of Dow Chemical in the third quarter worth $481,355,000. 68.75% of the stock is owned by institutional investors.
Shares of Dow Chemical Company (NYSE:DWDP) traded up $1.02 on Thursday, hitting $75.22. The company had a trading volume of 5,935,400 shares, compared to its average volume of 7,310,000. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.01 and a quick ratio of 1.38. Dow Chemical Company has a 1-year low of $64.01 and a 1-year high of $76.34. The firm has a market cap of $176,010.00 and a price-to-earnings ratio of 36.26.
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. The business had revenue of $18.29 billion during 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%. Dow Chemical’s quarterly 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. research analysts anticipate that Dow Chemical Company will post 3.35 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Tuesday, November 14th.
Several research analysts recently commented on DWDP shares. Nomura raised their target price on Dow Chemical from $77.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, September 13th. JPMorgan Chase & Co. began coverage on Dow Chemical in a report on Friday, September 15th. They set an “overweight” rating and a $80.00 price objective for the company. Royal Bank of Canada reissued a “buy” rating and set a $80.00 price objective on shares of Dow Chemical in a report on Wednesday, October 11th. Cowen raised Dow Chemical from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Wednesday, September 13th. Finally, UBS Group lifted their price objective on Dow Chemical from $75.00 to $82.00 and gave the company a “buy” rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $80.21.
In other news, COO James C. Jr. Collins sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $71.11, for a total transaction of $1,066,650.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeanmarie F. Desmond sold 6,708 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $71.01, for a total value of $476,335.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 495,951 shares of company stock worth $35,502,729. 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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