Ruggie Capital Group purchased a new stake in shares of Dow Chemical Company (The) (NYSE:DWDP) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,637 shares of the company’s stock, valued at approximately $183,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Curbstone Financial Management Corp purchased a new position in shares of Dow Chemical in the 3rd quarter worth approximately $2,872,000. Eqis Capital Management Inc. purchased a new position in shares of Dow Chemical in the 3rd quarter worth approximately $397,000. Neville Rodie & Shaw Inc. purchased a new position in shares of Dow Chemical in the 3rd quarter worth approximately $15,334,000. McQueen Ball & Associates Inc. purchased a new position in shares of Dow Chemical in the 3rd quarter worth approximately $650,000. Finally, Private Asset Management Inc. purchased a new position in shares of Dow Chemical in the 3rd quarter worth approximately $1,953,000. Institutional investors and hedge funds own 68.81% of the company’s stock.
Shares of Dow Chemical Company (NYSE:DWDP) opened at $70.00 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.38 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $163,822.70, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 2.34 and a beta of 1.15. Dow Chemical Company has a 1 year low of $64.01 and a 1 year high of $73.85.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders 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 yield of 2.17%. The ex-dividend date was Tuesday, November 14th. Dow Chemical’s dividend payout ratio (DPR) is presently 73.08%.
DWDP has been the subject of a number of research analyst reports. Macquarie initiated coverage on Dow Chemical in a research note on Tuesday, September 5th. They set an “outperform” rating and a $76.00 price target for the company. Bank of America initiated coverage on Dow Chemical in a research note on Monday, September 11th. They set a “buy” rating and a $78.00 price target for the company. Jefferies Group reissued a “buy” rating and set a $80.00 price target on shares of Dow Chemical in a research note on Sunday, October 8th. 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. Finally, Susquehanna Bancshares initiated coverage on Dow Chemical in a research note on Tuesday, September 5th. They set a “positive” rating and a $80.00 price target for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $80.21.
In other Dow Chemical news, General Counsel Charles J. Kalil sold 78,895 shares of Dow Chemical stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $71.00, for a total transaction of $5,601,545.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeanmarie F. Desmond sold 6,708 shares of Dow Chemical stock in a transaction on 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. Over the last ninety days, insiders have sold 486,287 shares of company stock valued at $34,825,282. 0.89% of the stock is currently owned by corporate insiders.
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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