Envestnet Asset Management Inc. bought a new position in shares of Dow Chemical Company (The) (NYSE:DWDP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 350,363 shares of the company’s stock, valued at approximately $24,258,000.
Other institutional investors have also added to or reduced their stakes in the company. Grisanti Capital Management LLC purchased a new stake in shares of Dow Chemical in the third quarter valued at about $4,782,000. Signature Financial Management Inc. purchased a new stake in shares of Dow Chemical in the third quarter valued at about $452,000. ARGI Investment Services LLC purchased a new stake in shares of Dow Chemical in the third quarter valued at about $2,025,000. Nippon Life Global Investors Americas Inc. purchased a new stake in shares of Dow Chemical in the third quarter valued at about $15,236,000. Finally, Convergence Investment Partners LLC purchased a new stake in shares of Dow Chemical in the third quarter valued at about $310,000. 68.74% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on DWDP shares. Nomura upped their price objective on shares of Dow Chemical from $77.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, September 13th. JPMorgan Chase & Co. started coverage on shares of Dow Chemical in a report on Friday, September 15th. They issued an “overweight” rating and a $80.00 price objective for the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $80.00 target price on shares of Dow Chemical in a research report on Wednesday, October 11th. Cowen raised shares of Dow Chemical from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Wednesday, September 13th. Finally, UBS Group upped their target price on shares of Dow Chemical from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the company. Dow Chemical has an average rating of “Buy” and an average target price of $80.21.
In other news, insider Andrew N. Liveris sold 49,449 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $71.63, for a total transaction of $3,542,031.87. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew N. Liveris sold 187,402 shares of the stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $72.23, for a total transaction of $13,536,046.46. The disclosure for this sale can be found here. Insiders have sold 495,951 shares of company stock worth $35,502,729 in the last three months. Corporate insiders own 0.89% of the company’s stock.
Dow Chemical Company (DWDP) opened at $75.42 on Monday. Dow Chemical Company has a 1 year low of $56.76 and a 1 year high of $75.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.01 and a quick ratio of 1.38. The company has a market cap of $176,480.00 and a PE ratio of 36.26.
Dow Chemical (NYSE:DWDP) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The business had revenue of $18.29 billion for the quarter, compared to analysts’ expectations of $18.24 billion. Dow Chemical had a net margin of 5.01% and a return on equity of 9.73%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 earnings per share. equities research analysts forecast that Dow Chemical Company will post 3.35 EPS for the current fiscal year.
The firm also recently declared 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. The ex-dividend date was Tuesday, November 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.02%.
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Dow Chemical 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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