Municipal Employees Retirement System of Michigan Purchases New Position in Dow Chemical Company (The) (DWDP)
Municipal Employees Retirement System of Michigan purchased a new stake in Dow Chemical Company (The) (NYSE:DWDP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 75,503 shares of the company’s stock, valued at approximately $5,227,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Tradewinds Capital Management LLC acquired a new stake in shares of Dow Chemical during the 3rd quarter valued at $101,000. AllSquare Wealth Management LLC acquired a new stake in shares of Dow Chemical during the 3rd quarter valued at $108,000. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Dow Chemical during the 3rd quarter valued at $114,000. Ironwood Financial llc acquired a new stake in shares of Dow Chemical during the 3rd quarter valued at $120,000. Finally, Alpha Omega Wealth Management LLC acquired a new stake in shares of Dow Chemical during the 3rd quarter valued at $126,000. Institutional investors own 68.81% of the company’s stock.
In other news, COO James C. Jr. Collins sold 15,000 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $71.11, for a total value of $1,066,650.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeanmarie F. Desmond sold 6,708 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $71.01, for a total value of $476,335.08. The disclosure for this sale can be found here. Insiders sold a total of 190,580 shares of company stock worth $13,584,719 over the last three months. 0.89% of the stock is owned by company insiders.
Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Dow Chemical from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 1st. Nomura lifted their target price on Dow Chemical from $77.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, September 13th. Citigroup lifted their target price on Dow Chemical from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, September 13th. initiated coverage on Dow Chemical in a report on Tuesday, September 26th. They set a “hold” rating on the stock. Finally, UBS lifted their target price on Dow Chemical from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $79.89.
Shares of Dow Chemical Company (NYSE DWDP) traded up $1.12 during trading hours on Tuesday, hitting $72.13. The stock had a trading volume of 8,568,600 shares, compared to its average volume of 6,331,471. The firm has a market cap of $166,162.69, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 2.38 and a beta of 1.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.01 and a quick ratio of 1.38. Dow Chemical Company has a 12 month low of $55.24 and a 12 month high of $73.85.
Dow Chemical (NYSE:DWDP) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. The company had revenue of $18.29 billion for the quarter, compared to the consensus estimate of $18.24 billion. Dow Chemical had a return on equity of 9.73% and a net margin of 5.01%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. research analysts predict that Dow Chemical Company will post 3.36 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Tuesday, November 14th. Dow Chemical’s dividend payout ratio is 73.08%.
About Dow Chemical
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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