Peloton Wealth Strategists Invests $3.49 Million in Dow Chemical Company (The) (DWDP)
Peloton Wealth Strategists acquired a new position in shares of Dow Chemical Company (The) (NYSE:DWDP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 50,429 shares of the company’s stock, valued at approximately $3,491,000. Dow Chemical comprises about 2.7% of Peloton Wealth Strategists’ investment portfolio, making the stock its 4th biggest position.
Several other hedge funds have also bought and sold shares of DWDP. Knights of Columbus Asset Advisors LLC acquired a new position in Dow Chemical in the third quarter valued at $2,214,000. Amica Pension Fund Board of Trustees acquired a new position in Dow Chemical in the third quarter valued at $8,784,000. Amica Mutual Insurance Co. acquired a new position in Dow Chemical in the third quarter valued at $9,544,000. Haverford Trust Co. acquired a new position in Dow Chemical in the third quarter valued at $133,576,000. Finally, Haverford Financial Services Inc. acquired a new position in Dow Chemical in the third quarter valued at $7,993,000. Institutional investors and hedge funds own 68.74% of the company’s stock.
In other news, insider Jeanmarie F. Desmond sold 6,708 shares of Dow Chemical stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $71.01, for a total transaction of $476,335.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Charles J. Kalil sold 78,895 shares of Dow Chemical stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $71.00, for a total value of $5,601,545.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 495,951 shares of company stock worth $35,502,729. Corporate insiders own 0.89% of the company’s stock.
A number of research analysts recently weighed in on the company. Royal Bank of Canada reiterated a “buy” rating and issued a $86.00 target price on shares of Dow Chemical in a report on Friday, December 8th. Stephens assumed coverage on Dow Chemical in a report on Monday, December 4th. They issued an “overweight” rating and a $83.00 target price on the stock. Goldman Sachs Group assumed coverage on Dow Chemical in a report on Monday, December 4th. They issued a “buy” rating on the stock. SunTrust Banks reissued a “hold” rating and issued a $73.00 price objective on shares of Dow Chemical in a research report on Friday, November 10th. Finally, UBS Group raised their price objective on Dow Chemical from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Dow Chemical has a consensus rating of “Buy” and a consensus price target of $80.21.
Dow Chemical Company (NYSE:DWDP) opened at $72.11 on Tuesday. Dow Chemical Company has a 52-week low of $56.52 and a 52-week high of $73.85. The company has a market capitalization of $168,736.67, a PE ratio of 34.67, a price-to-earnings-growth ratio of 2.42 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 (NYSE:DWDP) last announced its earnings results on Thursday, November 2nd. The company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. Dow Chemical had a return on equity of 9.73% and a net margin of 5.01%. The business had revenue of $18.29 billion for the quarter, compared to analyst estimates of $18.24 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. equities research analysts anticipate that Dow Chemical Company will post 3.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Tuesday, November 14th. Dow Chemical’s payout ratio is 73.08%.
Dow Chemical 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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