Barrett Asset Management LLC acquired a new position in shares of Dow Chemical Company (The) (NYSE:DWDP) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 62,507 shares of the company’s stock, valued at approximately $4,327,000.
A number of other hedge funds have also recently modified their holdings of DWDP. Curbstone Financial Management Corp purchased a new position in Dow Chemical during the third quarter worth $2,872,000. Eqis Capital Management Inc. purchased a new position in Dow Chemical during the third quarter worth $397,000. Neville Rodie & Shaw Inc. purchased a new position in Dow Chemical during the third quarter worth $15,334,000. McQueen Ball & Associates Inc. purchased a new stake in shares of Dow Chemical in the third quarter valued at $650,000. Finally, Private Asset Management Inc. purchased a new stake in shares of Dow Chemical in the third quarter valued at $1,953,000. 68.75% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on DWDP. Zacks Investment Research raised Dow Chemical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $86.00 price objective on shares of Dow Chemical in a research report on Friday, December 8th. began coverage on Dow Chemical in a research report on Tuesday, September 26th. They issued a “hold” rating for the company. UBS Group lifted their price objective on Dow Chemical from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Finally, Morgan Stanley lifted their price objective on Dow Chemical from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have issued a buy rating to the stock. The stock has a consensus 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 transaction of $677,446.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO James C. Jr. Collins sold 15,000 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $71.11, for a total value of $1,066,650.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 495,951 shares of company stock worth $35,502,729. 0.89% of the stock is currently owned by insiders.
Shares of Dow Chemical Company (NYSE DWDP) traded up $0.19 during trading on Friday, reaching $75.41. The company had a trading volume of 4,982,690 shares, compared to its average volume of 7,220,000. Dow Chemical Company has a 52-week low of $64.01 and a 52-week high of $76.34. The firm has a market capitalization of $176,460.00 and a PE ratio of 36.25. The company has a quick ratio of 1.38, a current ratio of 2.01 and a debt-to-equity ratio of 0.29.
Dow Chemical (NYSE:DWDP) last issued its earnings results on Thursday, November 2nd. The company reported $0.55 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.55. The firm had revenue of $18.29 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 earnings per share. analysts predict 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. Shareholders 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 of this dividend was Tuesday, November 14th.
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Dow Chemical Company Profile
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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