Amundi Pioneer Asset Management Inc. lifted its stake in shares of Dow Chemical (NYSE:DWDP) by 110.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,281,347 shares of the company’s stock after purchasing an additional 1,198,892 shares during the period. Amundi Pioneer Asset Management Inc. owned approximately 0.10% of Dow Chemical worth $162,478,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Third Point LLC acquired a new position in Dow Chemical in the third quarter valued at approximately $1,041,116,000. Synovus Financial Corp acquired a new position in Dow Chemical in the third quarter valued at approximately $9,887,000. River Wealth Advisors LLC acquired a new position in Dow Chemical in the third quarter valued at approximately $279,000. CNA Financial Corp acquired a new position in Dow Chemical in the third quarter valued at approximately $3,569,000. Finally, OZ Management LP acquired a new stake in Dow Chemical in the third quarter worth $626,235,000. Institutional investors own 70.45% of the company’s stock.
In other news, insider Ronald C. Edmonds sold 15,000 shares of Dow Chemical stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $71.83, for a total value of $1,077,450.00. The sale 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 dated Friday, February 23rd. The shares were 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 equities research analysts have weighed in on DWDP shares. ValuEngine upgraded shares of Dow Chemical from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded shares of Dow Chemical from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, January 30th. Barclays upgraded shares of Dow Chemical from an “underweight” rating to an “equal weight” rating in a report on Wednesday, January 31st. Nomura increased their target price on shares of Dow Chemical from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Jefferies Group reiterated a “buy” rating and issued a $85.00 target price on shares of Dow Chemical in a report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $80.77.
Shares of DWDP stock traded down $1.73 during trading hours on Friday, hitting $63.71. 11,325,014 shares of the company were exchanged, compared to its average volume of 10,102,218. The company has a market capitalization of $148,382.05, a price-to-earnings ratio of 18.74, a P/E/G ratio of 1.62 and a beta of 1.31. Dow Chemical has a 52 week low of $59.29 and a 52 week high of $77.08. The company has a quick ratio of 1.26, a current ratio of 1.91 and a debt-to-equity ratio of 0.29.
Dow Chemical (NYSE:DWDP) last released its earnings results on Thursday, February 1st. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.16. The business had revenue of $20.07 billion during the quarter, compared to the consensus estimate of $19.46 billion. Dow Chemical had a net margin of 2.34% and a return on equity of 8.21%. The business’s revenue for the quarter was up 54.1% on a year-over-year basis. equities analysts expect that Dow Chemical will post 4.14 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Tuesday, February 27th. Dow Chemical’s dividend payout ratio (DPR) is currently 44.71%.
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Dow Chemical Company 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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