Cadence Capital Management LLC acquired a new position in Dow Chemical Company (The) (NYSE:DWDP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 186,215 shares of the company’s stock, valued at approximately $12,892,000. Dow Chemical makes up 0.8% of Cadence Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tradewinds Capital Management LLC bought a new stake in shares of Dow Chemical in the 3rd quarter valued at about $101,000. Winfield Associates Inc. bought a new stake in shares of Dow Chemical in the 3rd quarter valued at about $103,000. AllSquare Wealth Management LLC bought a new stake in shares of Dow Chemical in the 3rd quarter valued at about $108,000. NewSquare Capital LLC bought a new stake in shares of Dow Chemical in the 3rd quarter valued at about $109,000. Finally, Ffcm LLC bought a new stake in shares of Dow Chemical in the 3rd quarter valued at about $114,000. Hedge funds and other institutional investors own 68.75% of the company’s stock.
Dow Chemical Company (NYSE:DWDP) opened at $75.41 on Friday. Dow Chemical Company has a twelve month low of $64.01 and a twelve month high of $76.34. 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 firm has a market capitalization of $176,460.00 and a P/E ratio of 36.25.
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. Dow Chemical had a return on equity of 9.73% and a net margin of 5.01%. The firm had revenue of $18.29 billion for the quarter, compared to the consensus estimate of $18.24 billion. During the same quarter in the prior year, the business earned $0.91 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. sell-side analysts expect that Dow Chemical Company will post 3.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.02%.
A number of equities research analysts have recently weighed in on DWDP shares. Royal Bank of Canada reissued a “buy” rating and issued a $80.00 target price on shares of Dow Chemical in a research note on Wednesday, October 11th. UBS Group boosted their target price on Dow Chemical from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Deutsche Bank assumed coverage on Dow Chemical in a research note on Thursday, October 5th. They issued a “buy” rating and a $80.00 target price for the company. Morgan Stanley upped their price target on Dow Chemical from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Finally, Zacks Investment Research raised Dow Chemical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $80.21.
In other Dow Chemical news, insider Andrew N. Liveris sold 187,402 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $72.23, for a total transaction of $13,536,046.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Charles J. Kalil sold 78,895 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was 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 have sold a total of 495,951 shares of company stock worth $35,502,729 in the last quarter. Company insiders own 0.89% of the company’s stock.
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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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