Wellington Shields & Co. LLC purchased a new position in shares of Dow Chemical Company (The) (NYSE:DWDP) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,807 shares of the company’s stock, valued at approximately $1,025,000.
Several other institutional investors and hedge funds have also recently modified their holdings of DWDP. Dupont Capital Management Corp acquired a new position in shares of Dow Chemical in the 3rd quarter valued at $884,806,000. Boston Partners acquired a new position in Dow Chemical during the 3rd quarter worth about $481,355,000. New York State Common Retirement Fund acquired a new position in Dow Chemical during the 3rd quarter worth about $423,511,000. Canada Pension Plan Investment Board acquired a new position in Dow Chemical during the 3rd quarter worth about $367,440,000. Finally, Principal Financial Group Inc. acquired a new position in Dow Chemical during the 3rd quarter worth about $319,529,000. Hedge funds and other institutional investors own 68.74% of the company’s stock.
Dow Chemical Company (NYSE DWDP) traded down $0.29 during trading on Friday, reaching $71.22. The company’s stock had a trading volume of 4,745,437 shares, compared to its average volume of 6,794,442. The stock has a market capitalization of $167,332.69, a P/E ratio of 34.24, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15. 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 one year low of $56.52 and a one year high of $73.85.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 15th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Tuesday, November 14th. Dow Chemical’s payout ratio is currently 73.08%.
Several brokerages have weighed in on DWDP. Morgan Stanley restated an “overweight” rating and set a $77.00 price target on shares of Dow Chemical in a report on Wednesday, September 6th. Susquehanna Bancshares initiated coverage on Dow Chemical in a report on Tuesday, September 5th. They set a “positive” rating and a $80.00 price target on the stock. Nomura increased their price objective on Dow Chemical from $77.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, September 13th. Edward Jones assumed coverage on Dow Chemical in a report on Friday, September 1st. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Dow Chemical in a research report on Friday, September 15th. They issued an “overweight” rating and a $80.00 target price for the company. 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 stock. The company currently has an average rating of “Buy” and an average target price of $80.21.
In other news, insider Jeanmarie F. Desmond sold 6,708 shares of Dow Chemical stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew N. Liveris sold 9,664 shares of Dow Chemical stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $70.10, for a total value of $677,446.40. The disclosure for this sale can be found here. Insiders sold 495,951 shares of company stock worth $35,502,729 in the last quarter. 0.89% of the stock is owned by insiders.
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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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