Anchor Capital Advisors LLC acquired a new position 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 fund acquired 450,314 shares of the company’s stock, valued at approximately $31,175,000. Dow Chemical comprises about 1.1% of Anchor Capital Advisors LLC’s holdings, making the stock its 27th biggest holding.
Several other large investors also recently modified their holdings of the company. Dupont Capital Management Corp acquired a new position in Dow Chemical in the 3rd quarter valued at $884,806,000. Boston Partners purchased a new stake in shares of Dow Chemical in the 3rd quarter worth about $481,355,000. Canada Pension Plan Investment Board purchased a new stake in shares of Dow Chemical in the 3rd quarter worth about $367,440,000. Principal Financial Group Inc. purchased a new stake in shares of Dow Chemical in the 3rd quarter worth about $319,529,000. Finally, New York State Teachers Retirement System purchased a new stake in shares of Dow Chemical in the 3rd quarter worth about $268,542,000. Institutional investors and hedge funds own 68.81% of the company’s stock.
Shares of Dow Chemical Company (NYSE DWDP) traded up $1.12 during trading 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. Dow Chemical Company has a fifty-two week low of $55.24 and a fifty-two week high of $73.85. 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 cap of $166,162.69, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 2.38 and a beta of 1.15.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Tuesday, November 14th. Dow Chemical’s dividend payout ratio is currently 73.08%.
A number of research firms have issued reports on DWDP. UBS upped their target price on shares of Dow Chemical from $75.00 to $82.00 and gave the company a “buy” rating in a report on Friday, October 27th. Morgan Stanley increased their target price on shares of Dow Chemical from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of Dow Chemical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Stephens started coverage on shares of Dow Chemical in a research report on Monday. They issued an “overweight” rating and a $83.00 price objective for the company. Finally, Credit Suisse Group reissued an “outperform” rating and set a $79.00 price target (up previously from $73.00) on shares of Dow Chemical in a research report on Thursday, October 12th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $79.89.
In other news, insider Jeanmarie F. Desmond sold 6,708 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $71.01, for a total transaction of $476,335.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Charles J. Kalil sold 78,895 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were 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 90 days, insiders have sold 190,580 shares of company stock worth $13,584,719. 0.89% of the stock is currently owned by company insiders.
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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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