Goldman Sachs Group Begins Coverage on Dow Chemical (DWDP)
Goldman Sachs Group assumed coverage on shares of Dow Chemical (NYSE:DWDP) in a research report released on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating on the stock.
A number of other equities research analysts also recently weighed in on the company. SunTrust Banks reaffirmed a hold rating and set a $73.00 price target on shares of Dow Chemical in a research note on Friday, November 10th. UBS raised their price target on Dow Chemical from $82.00 to $85.00 and gave the stock a buy rating in a research note on Friday, November 3rd. Credit Suisse Group raised their price target on Dow Chemical from $79.00 to $82.00 and gave the stock an outperform rating in a research note on Friday, November 3rd. Zacks Investment Research raised Dow Chemical from a strong sell rating to a hold rating in a research note on Wednesday, November 1st. Finally, Morgan Stanley raised their price target on Dow Chemical from $77.00 to $80.00 and gave the stock an overweight rating in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the company’s stock. Dow Chemical presently has a consensus rating of Buy and a consensus target price of $79.89.
Shares of Dow Chemical (NYSE DWDP) opened at $71.08 on Monday. The stock has a market capitalization of $167,402.89, a PE ratio of 19.55, a P/E/G ratio of 2.40 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 has a one year low of $55.94 and a one year 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, hitting 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 the consensus estimate of $18.24 billion. During the same period in the prior year, the business earned $0.91 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. analysts predict that Dow Chemical will post 3.36 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Tuesday, November 14th. Dow Chemical’s dividend payout ratio is 73.08%.
In other news, COO James C. Jr. Collins sold 15,000 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $71.11, for a total transaction of $1,066,650.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Andrew N. Liveris sold 187,402 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $72.23, for a total value of $13,536,046.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 377,982 shares of company stock worth $27,120,766. 0.89% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DWDP. JPMorgan Chase & Co. acquired a new stake in Dow Chemical in the 3rd quarter valued at approximately $2,095,726,000. Bank of New York Mellon Corp acquired a new stake in Dow Chemical in the 3rd quarter valued at approximately $1,920,750,000. Wells Fargo & Company MN acquired a new stake in Dow Chemical in the 3rd quarter valued at approximately $1,111,269,000. Third Point LLC acquired a new stake in Dow Chemical in the 3rd quarter valued at approximately $1,041,116,000. Finally, Dupont Capital Management Corp acquired a new stake in Dow Chemical in the 3rd quarter valued at approximately $884,806,000. 68.81% of the stock is currently owned by hedge funds and other institutional investors.
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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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