Connors Investor Services Inc. Reduces Holdings in Dow Chemical (NYSE:DWDP)

Connors Investor Services Inc. cut its stake in shares of Dow Chemical (NYSE:DWDP) by 38.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,048 shares of the company’s stock after selling 70,444 shares during the period. Connors Investor Services Inc.’s holdings in Dow Chemical were worth $7,980,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DWDP. BlackRock Inc. increased its position in shares of Dow Chemical by 0.7% in the fourth quarter. BlackRock Inc. now owns 156,234,472 shares of the company’s stock worth $11,127,020,000 after purchasing an additional 1,138,483 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of Dow Chemical in the third quarter worth approximately $2,095,726,000. Bank of New York Mellon Corp bought a new position in shares of Dow Chemical in the third quarter worth approximately $1,920,750,000. Geode Capital Management LLC boosted its stake in Dow Chemical by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 23,283,514 shares of the company’s stock worth $1,654,570,000 after buying an additional 797,843 shares in the last quarter. Finally, Wells Fargo & Company MN purchased a new stake in Dow Chemical in the third quarter worth approximately $1,111,269,000. Hedge funds and other institutional investors own 70.45% of the company’s stock.

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In related news, insider Ronald C. Edmonds sold 15,000 shares of Dow Chemical stock in a transaction dated Friday, March 9th. The stock was 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 can be accessed through this hyperlink. Also, General Counsel Charles J. Kalil sold 69,400 shares of Dow Chemical stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $72.66, for a total value of $5,042,604.00. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.

Several analysts have issued reports on the company. Zacks Investment Research lowered Dow Chemical from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Jefferies Group reaffirmed a “buy” rating and issued a $85.00 target price on shares of Dow Chemical in a research note on Friday, February 2nd. ValuEngine raised Dow Chemical from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Barclays cut their target price on Dow Chemical from $80.00 to $79.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Finally, Nomura upped their target price on Dow Chemical from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $80.77.

Shares of NYSE:DWDP opened at $63.71 on Monday. Dow Chemical has a 1-year low of $59.29 and a 1-year 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. The firm has a market cap of $148,382.05, a PE ratio of 18.74, a P/E/G ratio of 1.62 and a beta of 1.31.

Dow Chemical (NYSE:DWDP) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.16. Dow Chemical had a return on equity of 8.21% and a net margin of 2.34%. The firm had revenue of $20.07 billion during the quarter, compared to the consensus estimate of $19.46 billion. Dow Chemical’s revenue was up 54.1% compared to the same quarter last year. sell-side analysts predict that Dow Chemical will post 4.14 EPS for the current fiscal year.

The business also recently declared 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 was Tuesday, February 27th. This represents a $1.52 annualized dividend and a dividend yield of 2.39%. Dow Chemical’s payout ratio is presently 44.71%.

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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.

Institutional Ownership by Quarter for Dow Chemical (NYSE:DWDP)

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