Farr Miller & Washington LLC DC acquired a new position in shares of Dow Chemical (NYSE:DWDP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,075 shares of the company’s stock, valued at approximately $219,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nationwide Fund Advisors acquired a new position in Dow Chemical during the 3rd quarter worth approximately $71,079,000. Raymond James Financial Services Advisors Inc. bought a new stake in Dow Chemical during the 3rd quarter worth approximately $35,930,000. Victory Capital Management Inc. bought a new stake in Dow Chemical during the 3rd quarter worth approximately $7,619,000. Hallmark Capital Management Inc. bought a new stake in Dow Chemical during the 3rd quarter worth approximately $803,000. Finally, New York State Teachers Retirement System bought a new stake in Dow Chemical during the 3rd quarter worth approximately $268,542,000. Hedge funds and other institutional investors own 70.45% of the company’s stock.
Shares of NYSE DWDP traded down $1.73 during trading hours on Friday, hitting $63.71. The company’s stock had a trading volume of 11,325,014 shares, compared to its average volume of 10,102,218. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.91 and a quick ratio of 1.26. Dow Chemical has a 12 month low of $59.29 and a 12 month high of $77.08. The stock has a market capitalization of $152,411.27, a PE ratio of 18.74, a PEG ratio of 1.66 and a beta of 1.31.
Dow Chemical (NYSE:DWDP) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.16. Dow Chemical had a net margin of 2.34% and a return on equity of 8.21%. The business had revenue of $20.07 billion during the quarter, compared to analyst estimates of $19.46 billion. Dow Chemical’s revenue for the quarter was up 54.1% compared to the same quarter last year. equities research analysts anticipate that Dow Chemical will post 4.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.52 annualized dividend and a dividend yield of 2.39%. Dow Chemical’s payout ratio is 44.71%.
In other Dow Chemical news, insider Ronald C. Edmonds sold 15,000 shares of Dow Chemical stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $71.83, for a total value of $1,077,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Charles J. Kalil sold 69,400 shares of Dow Chemical stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $72.66, for a total transaction of $5,042,604.00. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.
Several brokerages have weighed in on DWDP. Morgan Stanley set a $80.00 price objective on Dow Chemical and gave the company a “buy” rating in a report on Wednesday, March 21st. HSBC upgraded Dow Chemical from a “hold” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets initiated coverage on Dow Chemical in a research report on Tuesday, March 27th. They set an “outperform” rating and a $82.00 target price on the stock. ValuEngine upgraded Dow Chemical from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $86.00 price objective on shares of Dow Chemical in a research report on Friday, December 8th. Six equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $80.77.
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Dow Chemical Profile
DowDuPont Inc, through its subsidiaries, engages in agriculture, materials science, and specialty products businesses worldwide. The company's Agriculture segment develops and sells hybrid corn seed and soybean seed varieties; canola, cotton, sunflower, sorghum, wheat, and rice seeds; silage inoculants; and weed control, disease control, and insect control products.
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