Stevens Capital Management LP increased its stake in shares of Dow Chemical (NYSE:DWDP) by 120.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,652 shares of the company’s stock after buying an additional 149,163 shares during the quarter. Dow Chemical accounts for 0.7% of Stevens Capital Management LP’s investment portfolio, making the stock its 27th largest holding. Stevens Capital Management LP’s holdings in Dow Chemical were worth $17,371,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in DWDP. Standard Life Aberdeen plc grew its holdings in Dow Chemical by 516.5% during the fourth quarter. Standard Life Aberdeen plc now owns 6,733,832 shares of the company’s stock worth $480,192,000 after buying an additional 5,641,549 shares in the last quarter. Mackenzie Financial Corp bought a new stake in Dow Chemical during the fourth quarter worth $118,025,000. Amundi Pioneer Asset Management Inc. grew its holdings in Dow Chemical by 110.8% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,281,347 shares of the company’s stock worth $162,478,000 after buying an additional 1,198,892 shares in the last quarter. BlackRock Inc. grew its holdings in Dow Chemical by 0.7% during the fourth quarter. BlackRock Inc. now owns 156,234,472 shares of the company’s stock worth $11,127,020,000 after buying an additional 1,138,483 shares in the last quarter. Finally, Huntington National Bank bought a new stake in Dow Chemical during the fourth quarter worth $69,208,000. Institutional investors and hedge funds own 70.14% of the company’s stock.
In other news, insider Ronald C. Edmonds sold 15,000 shares of the company’s stock in a transaction on 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 legal filing with the SEC, which is accessible through this link. Also, General Counsel Charles J. Kalil sold 69,400 shares of the company’s stock in a transaction on 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 owned by corporate insiders.
Dow Chemical (NYSE:DWDP) last issued its quarterly earnings results on Thursday, May 3rd. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. Dow Chemical had a return on equity of 8.01% and a net margin of 2.37%. The firm had revenue of $21.51 billion for the quarter, compared to analysts’ expectations of $21.31 billion. The business’s quarterly revenue was up 62.6% compared to the same quarter last year. research analysts predict that Dow Chemical will post 4.19 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.25%. Dow Chemical’s dividend payout ratio is presently 44.71%.
Several equities research analysts recently issued reports on the company. MED reiterated a “buy” rating and set a $90.00 price target on shares of Dow Chemical in a report on Thursday. Credit Suisse Group decreased their price target on Dow Chemical from $82.00 to $78.00 and set an “outperform” rating for the company in a report on Friday, May 4th. Deutsche Bank decreased their price target on Dow Chemical from $84.00 to $76.00 and set a “buy” rating for the company in a report on Friday, May 4th. Citigroup decreased their price target on Dow Chemical from $82.00 to $80.00 and set a “buy” rating for the company in a report on Friday, May 4th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $85.00 price target on shares of Dow Chemical in a report on Tuesday, April 17th. Six analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The stock 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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