Roosevelt Investment Group Inc. trimmed its stake in Dow Chemical (NYSE:DWDP) by 2.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 288,564 shares of the company’s stock after selling 8,629 shares during the period. Dow Chemical comprises 1.7% of Roosevelt Investment Group Inc.’s investment portfolio, making the stock its 21st biggest holding. Roosevelt Investment Group Inc.’s holdings in Dow Chemical were worth $18,384,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in DWDP. Standard Life Aberdeen plc raised its stake in shares of Dow Chemical by 516.5% in the 4th quarter. Standard Life Aberdeen plc now owns 6,733,832 shares of the company’s stock valued at $480,192,000 after acquiring an additional 5,641,549 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Dow Chemical in the 4th quarter valued at approximately $118,025,000. Amundi Pioneer Asset Management Inc. raised its stake in shares of Dow Chemical by 110.8% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,281,347 shares of the company’s stock valued at $162,478,000 after acquiring an additional 1,198,892 shares during the period. BlackRock Inc. raised its stake in shares of Dow Chemical by 0.7% in the 4th quarter. BlackRock Inc. now owns 156,234,472 shares of the company’s stock valued at $11,127,020,000 after acquiring an additional 1,138,483 shares during the period. Finally, Huntington National Bank acquired a new position in shares of Dow Chemical in the fourth quarter valued at approximately $69,208,000. 69.54% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the stock. Nomura lifted their price objective on shares of Dow Chemical from $83.00 to $84.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Jefferies Group restated a “buy” rating and issued a $85.00 price objective on shares of Dow Chemical in a report on Friday, February 2nd. Bank of America dropped their price objective on shares of Dow Chemical from $88.00 to $84.00 and set a “buy” rating for the company in a report on Tuesday, April 10th. Barclays upgraded shares of Dow Chemical from an “underweight” rating to an “equal weight” rating in a report on Wednesday, January 31st. Finally, MED restated a “buy” rating and issued a $90.00 price objective on shares of Dow Chemical in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $81.13.
NYSE DWDP opened at $67.57 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.87 and a debt-to-equity ratio of 0.29. Dow Chemical has a 52 week low of $60.38 and a 52 week high of $77.08. The company has a market cap of $157.37 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 1.70 and a beta of 1.30.
Dow Chemical (NYSE:DWDP) last posted its quarterly earnings results on Thursday, May 3rd. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. Dow Chemical had a net margin of 2.37% and a return on equity of 8.01%. The company had revenue of $21.51 billion during the quarter, compared to analysts’ expectations of $21.31 billion. The business’s revenue for the quarter was up 62.6% compared to the same quarter last year. research analysts expect that Dow Chemical will post 4.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Wednesday, May 30th. Dow Chemical’s dividend payout ratio (DPR) is presently 44.71%.
In other news, General Counsel Charles J. Kalil sold 69,400 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $72.66, for a total transaction of $5,042,604.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ronald C. Edmonds sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $71.83, for a total transaction of $1,077,450.00. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.
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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