Cutler Investment Counsel LLC Acquires New Stake in Dow Chemical Company (The) (DWDP)
Cutler Investment Counsel LLC acquired a new position in Dow Chemical Company (The) (NYSE:DWDP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 149,620 shares of the company’s stock, valued at approximately $10,358,000. Dow Chemical makes up about 2.4% of Cutler Investment Counsel LLC’s investment portfolio, making the stock its 14th biggest position.
Other hedge funds have also made changes to their positions in the company. Excalibur Management Corp bought a new stake in Dow Chemical during the third quarter worth $303,000. TCI Wealth Advisors Inc. bought a new stake in Dow Chemical during the third quarter worth $973,000. Toronto Dominion Bank bought a new stake in Dow Chemical during the third quarter worth $78,199,000. Gilman Hill Asset Management LLC bought a new stake in Dow Chemical during the third quarter worth $1,088,000. Finally, Barometer Capital Management Inc. bought a new stake in Dow Chemical during the third quarter worth $4,701,000. 68.81% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Andrew N. Liveris sold 78,582 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $71.00, for a total value of $5,579,322.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Charles J. Kalil sold 78,895 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $71.00, for a total transaction of $5,601,545.00. The disclosure for this sale can be found here. Insiders sold 486,287 shares of company stock worth $34,825,282 over the last 90 days. 0.89% of the stock is currently owned by corporate insiders.
Dow Chemical (NYSE:DWDP) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ 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 the consensus estimate of $18.24 billion. During the same period in the prior year, the company posted $0.91 earnings per share. Dow Chemical’s revenue was up 7.6% compared to the same quarter last year. research analysts anticipate that Dow Chemical Company will post 3.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 15th were paid a $0.38 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.17%. Dow Chemical’s dividend payout ratio (DPR) is presently 73.08%.
Several research firms have issued reports on DWDP. Royal Bank of Canada reaffirmed a “buy” rating and set a $86.00 price target on shares of Dow Chemical in a research report on Friday, December 8th. Stephens assumed coverage on shares of Dow Chemical in a research report on Monday, December 4th. They set an “overweight” rating and a $83.00 price target on the stock. Goldman Sachs Group assumed coverage on shares of Dow Chemical in a report on Monday, December 4th. They issued a “buy” rating on the stock. SunTrust Banks reiterated a “hold” rating and issued a $73.00 price objective on shares of Dow Chemical in a report on Friday, November 10th. Finally, UBS upped their price objective on shares of Dow Chemical from $82.00 to $85.00 and gave the company a “buy” rating in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $80.21.
Dow Chemical Company 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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