Eaton Vance Management boosted its stake in Dow Chemical (NYSE:DWDP) by 20.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,820,725 shares of the company’s stock after acquiring an additional 303,003 shares during the period. Eaton Vance Management owned 0.08% of Dow Chemical worth $115,998,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in DWDP. Certified Advisory Corp bought a new stake in Dow Chemical in the fourth quarter valued at approximately $101,000. Financial Gravity Companies Inc. bought a new stake in Dow Chemical in the fourth quarter valued at approximately $106,000. Delpha Capital Management LLC bought a new stake in Dow Chemical in the fourth quarter valued at approximately $122,000. Avestar Capital LLC bought a new stake in Dow Chemical in the fourth quarter valued at approximately $138,000. Finally, Trustcore Financial Services LLC bought a new stake in Dow Chemical in the fourth quarter valued at approximately $150,000. Institutional investors and hedge funds own 70.14% of the company’s stock.
Several analysts recently commented on the company. MED reiterated a “buy” rating and issued a $90.00 target price on shares of Dow Chemical in a report on Thursday. Credit Suisse Group cut their price target on Dow Chemical from $82.00 to $78.00 and set an “outperform” rating on the stock in a report on Friday, May 4th. Deutsche Bank cut their price target on Dow Chemical from $84.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, May 4th. Citigroup cut their price target on Dow Chemical from $82.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, May 4th. Finally, Royal Bank of Canada restated a “buy” rating and set a $85.00 price target on shares of Dow Chemical in a report on Tuesday, April 17th. Six research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $81.13.
In related news, insider Ronald C. Edmonds sold 15,000 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $71.83, for a total value of $1,077,450.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Charles J. Kalil sold 69,400 shares of the stock in a transaction on Friday, February 23rd. The shares were 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.
Shares of Dow Chemical opened at $68.16 on Friday, according to MarketBeat Ratings. Dow Chemical has a 12-month low of $67.12 and a 12-month high of $67.66. The company has a current ratio of 1.87, a quick ratio of 1.21 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $158.44 billion, a P/E ratio of 19.00, a PEG ratio of 1.71 and a beta of 1.30.
Dow Chemical (NYSE:DWDP) last issued its earnings results on Thursday, May 3rd. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. Dow Chemical had a return on equity of 8.01% and a net margin of 2.37%. The company had revenue of $21.51 billion for the quarter, compared to analysts’ expectations of $21.31 billion. The firm’s quarterly revenue was up 62.6% on a year-over-year basis. sell-side analysts forecast that Dow Chemical will post 4.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Wednesday, May 30th. Dow Chemical’s dividend payout ratio is currently 44.71%.
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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