MRJ Capital Inc. bought a new stake in shares of Dow Chemical Company (The) (NYSE:DWDP) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 64,712 shares of the company’s stock, valued at approximately $4,480,000. Dow Chemical makes up approximately 2.5% of MRJ Capital Inc.’s portfolio, making the stock its 12th biggest position.
Several other institutional investors have also made changes to their positions in DWDP. Bank of New York Mellon Corp purchased a new stake in Dow Chemical in the third quarter worth $1,920,750,000. Dupont Capital Management Corp purchased a new stake in Dow Chemical in the third quarter worth $884,806,000. Ameriprise Financial Inc. purchased a new stake in Dow Chemical in the third quarter worth $839,246,000. Macquarie Group Ltd. purchased a new stake in Dow Chemical in the third quarter worth $726,508,000. Finally, Boston Partners purchased a new stake in Dow Chemical in the third quarter worth $481,355,000. Institutional investors own 68.81% of the company’s stock.
DWDP has been the topic of several recent research reports. Sanford C. Bernstein initiated coverage on Dow Chemical in a research note on Friday, September 1st. They issued an “outperform” rating and a $79.00 price target on the stock. Edward Jones initiated coverage on Dow Chemical in a research note on Friday, September 1st. They issued a “hold” rating on the stock. Cowen initiated coverage on Dow Chemical in a research note on Friday, September 1st. They issued a “market perform” rating on the stock. UBS initiated coverage on Dow Chemical in a research note on Friday, September 1st. They issued a “buy” rating on the stock. Finally, Nomura initiated coverage on Dow Chemical in a research note on Sunday, September 3rd. They issued a “buy” rating and a $77.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $80.21.
Dow Chemical (NYSE:DWDP) last released its earnings results on Thursday, November 2nd. The company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Dow Chemical had a return on equity of 9.73% and a net margin of 5.01%. The firm had revenue of $18.29 billion for the quarter, compared to analysts’ expectations of $18.24 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. equities research analysts anticipate that Dow Chemical Company will post 3.36 EPS 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 paid a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.17%. Dow Chemical’s dividend payout ratio is currently 73.08%.
In other news, insider Jeanmarie F. Desmond sold 6,708 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $71.01, for a total transaction of $476,335.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Charles J. Kalil sold 78,895 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $71.00, for a total value of $5,601,545.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 486,287 shares of company stock worth $34,825,282. Corporate insiders own 0.89% of the company’s stock.
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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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