Estabrook Capital Management Invests $31.58 Million in Dow Chemical Company (The) (DWDP) Stock

Estabrook Capital Management bought a new stake in shares of Dow Chemical Company (The) (NYSE:DWDP) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 456,116 shares of the company’s stock, valued at approximately $31,577,000. Dow Chemical comprises approximately 4.9% of Estabrook Capital Management’s holdings, making the stock its 2nd largest position.

A number of other hedge funds have also made changes to their positions in the business. Curbstone Financial Management Corp bought a new position in shares of Dow Chemical in the third quarter worth approximately $2,872,000. Eqis Capital Management Inc. bought a new position in shares of Dow Chemical in the third quarter worth approximately $397,000. Neville Rodie & Shaw Inc. bought a new position in shares of Dow Chemical in the third quarter worth approximately $15,334,000. McQueen Ball & Associates Inc. bought a new position in shares of Dow Chemical in the third quarter worth approximately $650,000. Finally, Private Asset Management Inc. bought a new position in shares of Dow Chemical in the third quarter worth approximately $1,953,000. 68.74% of the stock is owned by institutional investors and hedge funds.

DWDP has been the subject of a number of research reports. Macquarie initiated coverage on shares of Dow Chemical in a research report on Tuesday, September 5th. They set an “outperform” rating and a $76.00 target price for the company. Bank of America initiated coverage on shares of Dow Chemical in a research report on Monday, September 11th. They set a “buy” rating and a $78.00 price objective for the company. Jefferies Group reiterated a “buy” rating and set a $80.00 price objective on shares of Dow Chemical in a research report on Sunday, October 8th. Credit Suisse Group increased their price objective on shares of Dow Chemical from $79.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Finally, Susquehanna Bancshares initiated coverage on shares of Dow Chemical in a research report on Tuesday, September 5th. They set a “positive” rating and a $80.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $80.21.

In related news, insider Andrew N. Liveris sold 9,664 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $70.10, for a total value of $677,446.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew N. Liveris sold 187,402 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $72.23, for a total value 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 over the last 90 days. Insiders own 0.89% of the company’s stock.

Dow Chemical Company (NYSE DWDP) opened at $71.44 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 2.01 and a debt-to-equity ratio of 0.29. Dow Chemical Company has a 12 month low of $56.52 and a 12 month high of $73.85. The company has a market cap of $168,736.67, a PE ratio of 34.35, a P/E/G ratio of 2.42 and a beta of 1.15.

Dow Chemical (NYSE:DWDP) last issued its 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. Dow Chemical had a net margin of 5.01% and a return on equity of 9.73%. The company 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 business earned $0.91 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. analysts forecast that Dow Chemical Company will post 3.36 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 15th were paid a dividend of $0.38 per share. 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 2.13%. Dow Chemical’s payout ratio is 73.08%.

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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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Institutional Ownership by Quarter for Dow Chemical (NYSE:DWDP)

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