Rovida Advisors Inc. grew its stake in shares of Dow Chemical (NYSE:DWDP) by 10.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 550,000 shares of the company’s stock after acquiring an additional 50,000 shares during the period. Dow Chemical comprises approximately 3.3% of Rovida Advisors Inc.’s investment portfolio, making the stock its 13th biggest holding. Rovida Advisors Inc.’s holdings in Dow Chemical were worth $35,041,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in 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 buying an additional 1,138,483 shares in the last quarter. Geode Capital Management LLC raised 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. Alliancebernstein L.P. raised its stake in Dow Chemical by 8.5% in the fourth quarter. Alliancebernstein L.P. now owns 11,347,134 shares of the company’s stock worth $808,143,000 after buying an additional 888,106 shares in the last quarter. Swiss National Bank raised its stake in Dow Chemical by 0.4% in the fourth quarter. Swiss National Bank now owns 8,607,534 shares of the company’s stock worth $613,029,000 after buying an additional 37,600 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in Dow Chemical by 6.4% in the fourth quarter. Clearbridge Investments LLC now owns 8,223,515 shares of the company’s stock worth $585,679,000 after buying an additional 494,412 shares in the last quarter. 69.54% of the stock is owned by hedge funds and other institutional investors.
DWDP has been the subject of a number of recent research reports. Citigroup reduced their price objective on shares of Dow Chemical from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Tuesday, April 10th. Credit Suisse Group reduced their price target on Dow Chemical from $82.00 to $78.00 and set an “outperform” rating on the stock in a research report on Friday, May 4th. Zacks Investment Research raised Dow Chemical from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Tuesday, January 30th. BMO Capital Markets began coverage on Dow Chemical in a research report on Tuesday, March 27th. They set an “outperform” rating and a $82.00 price target on the stock. Finally, Morgan Stanley set a $80.00 price target on Dow Chemical and gave the stock a “buy” rating in a research report on Wednesday, March 21st. Six analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $81.13.
Shares of DWDP opened at $67.04 on Thursday. The firm has a market cap of $157.14 billion, a PE ratio of 19.72, a P/E/G ratio of 1.70 and a beta of 1.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.21 and a current ratio of 1.87. Dow Chemical has a 1-year low of $60.38 and a 1-year high of $77.08.
Dow Chemical (NYSE:DWDP) last announced its quarterly earnings data on Thursday, May 3rd. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $21.51 billion for the quarter, compared to analyst estimates of $21.31 billion. Dow Chemical had a net margin of 2.37% and a return on equity of 8.01%. The firm’s revenue for the quarter was up 62.6% compared to the same quarter last year. sell-side analysts anticipate that Dow Chemical will post 4.19 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.27%. 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 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 document filed with the SEC, which can be accessed through the SEC website. Also, insider Ronald C. Edmonds sold 15,000 shares of the business’s stock in a transaction on Friday, March 9th. The shares were 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 owned by insiders.
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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