Todd Asset Management LLC Acquires New Holdings in Dow Chemical Company (The) (DWDP)
Todd Asset Management LLC acquired a new stake in shares of Dow Chemical Company (The) (NYSE:DWDP) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 286,910 shares of the company’s stock, valued at approximately $19,863,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dupont Capital Management Corp acquired a new position in Dow Chemical during the third quarter valued at $884,806,000. Boston Partners acquired a new position in shares of Dow Chemical in the third quarter worth about $481,355,000. New York State Common Retirement Fund acquired a new position in shares of Dow Chemical in the third quarter worth about $423,511,000. Canada Pension Plan Investment Board acquired a new position in shares of Dow Chemical in the third quarter worth about $367,440,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Dow Chemical in the third quarter worth about $319,529,000. 68.81% of the stock is currently owned by hedge funds and other institutional investors.
In other Dow Chemical news, insider Andrew N. Liveris sold 49,449 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $71.63, for a total transaction of $3,542,031.87. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Andrew N. Liveris sold 187,402 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $72.23, for a total transaction of $13,536,046.46. The disclosure for this sale can be found here. Insiders sold a total of 377,982 shares of company stock worth $27,120,766 over the last ninety days. Insiders own 0.89% of the company’s stock.
Dow Chemical (NYSE:DWDP) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.55 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.55. Dow Chemical had a net margin of 5.01% and a return on equity of 9.73%. The business had revenue of $18.29 billion for the quarter, compared to analyst estimates of $18.24 billion. During the same period last year, the business earned $0.91 EPS. The company’s revenue was up 7.6% on a year-over-year basis. sell-side analysts anticipate that Dow Chemical Company will post 3.36 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, November 14th. Dow Chemical’s dividend payout ratio (DPR) is 73.08%.
A number of research analysts have weighed in on the stock. UBS upped their price objective on shares of Dow Chemical from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Morgan Stanley boosted their target price on shares of Dow Chemical from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of Dow Chemical from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Stephens initiated coverage on shares of Dow Chemical in a research note on Monday. They set an “overweight” rating and a $83.00 target price for the company. Finally, Credit Suisse Group reissued an “outperform” rating and set a $79.00 target price (up previously from $73.00) on shares of Dow Chemical in a research note on Thursday, October 12th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have given a buy rating to the company. Dow Chemical currently has a consensus rating of “Buy” and an average target price of $79.89.
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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