ProVise Management Group LLC bought a new stake in shares of Dow Chemical Company (The) (NYSE:DWDP) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19,859 shares of the company’s stock, valued at approximately $1,375,000.
Other large investors have also made changes to their positions in the company. Mawer Investment Management Ltd. purchased a new stake in shares of Dow Chemical in the third quarter worth about $227,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Dow Chemical in the third quarter worth about $293,000. Harbour Capital Advisors LLC purchased a new stake in shares of Dow Chemical in the third quarter worth about $396,000. Welch Capital Partners LLC NY purchased a new stake in shares of Dow Chemical in the third quarter worth about $366,000. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Dow Chemical in the third quarter worth about $3,695,000. 68.75% of the stock is currently owned by institutional investors.
In other news, General Counsel Charles J. Kalil sold 78,895 shares of Dow Chemical stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $71.00, for a total value of $5,601,545.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew N. Liveris sold 9,664 shares of Dow Chemical stock in a transaction on Friday, December 15th. The shares were 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. In the last three months, insiders have sold 495,951 shares of company stock valued at $35,502,729. 0.89% of the stock is owned by insiders.
Dow Chemical (NYSE:DWDP) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.55 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $18.24 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. sell-side analysts forecast that Dow Chemical Company will post 3.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders 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 annualized dividend and a yield of 2.02%.
A number of brokerages have recently commented on DWDP. ValuEngine upgraded Dow Chemical from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Royal Bank of Canada restated a “buy” rating and issued a $86.00 target price on shares of Dow Chemical in a research note on Friday, December 8th. Stephens began coverage on Dow Chemical in a research note on Monday, December 4th. They issued an “overweight” rating and a $83.00 target price on the stock. Goldman Sachs Group began coverage on Dow Chemical in a research report on Monday, December 4th. They set a “buy” rating on the stock. Finally, SunTrust Banks reiterated a “hold” rating and set a $73.00 price target on shares of Dow Chemical in a research report on Friday, November 10th. One 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’s stock. Dow Chemical presently has an average rating of “Buy” and an average price target of $80.21.
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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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