Buckhead Capital Management LLC grew its stake in shares of Dow Chemical (NYSE:DWDP) by 1.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 86,952 shares of the company’s stock after acquiring an additional 1,605 shares during the quarter. Dow Chemical comprises about 1.2% of Buckhead Capital Management LLC’s portfolio, making the stock its 28th biggest holding. Buckhead Capital Management LLC’s holdings in Dow Chemical were worth $5,540,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the company. Peddock Capital Advisors LLC acquired a new position in Dow Chemical in the 3rd quarter worth about $106,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of Dow Chemical in the third quarter valued at about $72,348,000. Keeley Teton Advisors LLC acquired a new stake in shares of Dow Chemical in the third quarter valued at about $732,000. Asset Management One Co. Ltd. acquired a new stake in shares of Dow Chemical in the third quarter valued at about $256,367,000. Finally, Psagot Investment House Ltd. acquired a new stake in shares of Dow Chemical in the third quarter valued at about $575,000. Hedge funds and other institutional investors own 70.14% of the company’s stock.
In related news, insider Ronald C. Edmonds sold 15,000 shares of the business’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $71.83, for a total transaction of $1,077,450.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Charles J. Kalil sold 69,400 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $72.66, for a total value of $5,042,604.00. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.
Dow Chemical (NYSE:DWDP) last issued its quarterly earnings results on Thursday, May 3rd. The company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The firm had revenue of $21.51 billion during the quarter, compared to analyst estimates of $21.31 billion. Dow Chemical had a return on equity of 8.01% and a net margin of 2.37%. The business’s revenue for the quarter was up 62.6% on a year-over-year basis. equities research analysts anticipate that Dow Chemical will post 4.19 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be issued a $0.38 dividend. The ex-dividend date is Wednesday, May 30th. This represents a $1.52 annualized dividend and a dividend yield of 2.23%. Dow Chemical’s dividend payout ratio is currently 44.71%.
Several equities research analysts recently commented on DWDP shares. Morgan Stanley set a $80.00 target price on Dow Chemical and gave the company a “buy” rating in a research report on Wednesday, March 21st. HSBC upgraded Dow Chemical from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th. Bank of America cut their price target on Dow Chemical from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Tuesday, April 10th. BMO Capital Markets initiated coverage on Dow Chemical in a report on Tuesday, March 27th. They issued an “outperform” rating and a $82.00 price target on the stock. Finally, Zacks Investment Research upgraded Dow Chemical from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, January 30th. Six investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $81.13.
About Dow Chemical
DowDuPont Inc, through its subsidiaries, engages in agriculture, materials science, and specialty products businesses worldwide. The company's Agriculture segment develops and sells hybrid corn seed and soybean seed varieties; canola, cotton, sunflower, sorghum, wheat, and rice seeds; silage inoculants; and weed control, disease control, and insect control products.
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