Oppenheimer Asset Management Inc. purchased a new position in Dow Chemical Company (The) (NYSE:DWDP) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 308,240 shares of the company’s stock, valued at approximately $21,339,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of DWDP. Tradewinds Capital Management LLC purchased a new position in Dow Chemical in the 3rd quarter worth approximately $101,000. Winfield Associates Inc. purchased a new stake in shares of Dow Chemical during the 3rd quarter worth approximately $103,000. Peddock Capital Advisors LLC purchased a new stake in shares of Dow Chemical during the 3rd quarter worth approximately $106,000. AllSquare Wealth Management LLC purchased a new stake in shares of Dow Chemical during the 3rd quarter worth approximately $108,000. Finally, NewSquare Capital LLC purchased a new stake in shares of Dow Chemical during the 3rd quarter worth approximately $109,000. 68.75% of the stock is currently owned by institutional investors.
DWDP has been the topic of several recent research reports. JPMorgan Chase & Co. initiated coverage on Dow Chemical in a report on Friday, September 15th. They set an “overweight” rating and a $80.00 price objective on the stock. Vertical Research reaffirmed a “buy” rating and set a $79.00 price objective (up from $74.00) on shares of Dow Chemical in a report on Saturday, September 16th. Argus initiated coverage on Dow Chemical in a report on Tuesday, September 19th. They set a “buy” rating and a $81.00 price objective on the stock. initiated coverage on Dow Chemical in a report on Tuesday, September 26th. They set a “hold” rating on the stock. Finally, Zacks Investment Research cut Dow Chemical from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $80.21.
Dow Chemical (NYSE:DWDP) last released its earnings results on Thursday, November 2nd. The company reported $0.55 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. The firm had revenue of $18.29 billion for the quarter, compared to the consensus estimate of $18.24 billion. Dow Chemical had a return on equity of 9.73% and a net margin of 5.01%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS. analysts forecast that Dow Chemical Company will post 3.35 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Tuesday, November 14th. Dow Chemical’s dividend payout ratio is currently 73.08%.
In other Dow Chemical news, insider Andrew N. Liveris sold 187,402 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $72.23, for a total value of $13,536,046.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeanmarie F. Desmond sold 6,708 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $71.01, for a total value of $476,335.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 495,951 shares of company stock worth $35,502,729. Corporate insiders own 0.89% of the company’s stock.
Dow Chemical Company Profile
DowDuPont Inc is a holding company formed through the merger of equals between The Dow Chemical Company and E. I. du Pont de Nemours and Company (DuPont). The Company’s business divisions include Agriculture division, Material Science division, and a Specialty Products division. The Agriculture Division offers a complete portfolio of products and technologies, traits and crop protection.
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