NWQ Investment Management Company LLC Acquires Shares of 1,239,100 Dow Chemical Company (The) (DWDP)
NWQ Investment Management Company LLC acquired a new stake in Dow Chemical Company (The) (NYSE:DWDP) during the third quarter, HoldingsChannel.com reports. The fund acquired 1,239,100 shares of the company’s stock, valued at approximately $85,783,000. Dow Chemical comprises about 1.0% of NWQ Investment Management Company LLC’s holdings, making the stock its 21st biggest holding.
Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in Dow Chemical in the third quarter valued at approximately $2,095,726,000. Bank of New York Mellon Corp acquired a new stake in Dow Chemical in the third quarter valued at approximately $1,920,750,000. Wells Fargo & Company MN acquired a new stake in Dow Chemical in the third quarter valued at approximately $1,111,269,000. Third Point LLC acquired a new stake in Dow Chemical in the third quarter valued at approximately $1,041,116,000. Finally, Dupont Capital Management Corp acquired a new stake in Dow Chemical in the third quarter valued at approximately $884,806,000. 68.75% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on DWDP shares. Monness Crespi & Hardt started coverage on shares of Dow Chemical in a research report on Tuesday, September 12th. They issued a “neutral” rating on the stock. Macquarie began coverage on shares of Dow Chemical in a report on Tuesday, September 12th. They set an “outperform” rating on the stock. Instinet reiterated a “buy” rating and set a $82.00 price target (up previously from $77.00) on shares of Dow Chemical in a report on Wednesday, September 13th. Cowen upgraded shares of Dow Chemical from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Wednesday, September 13th. Finally, Nomura lifted their price target on shares of Dow Chemical from $77.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $80.21.
Dow Chemical Company (DWDP) opened at $75.34 on Wednesday. The stock has a market cap of $176,290.00 and a price-to-earnings ratio of 36.26. The company has a quick ratio of 1.38, a current ratio of 2.01 and a debt-to-equity ratio of 0.29. Dow Chemical Company has a fifty-two week low of $56.76 and a fifty-two week high of $76.34.
Dow Chemical (NYSE:DWDP) last released its earnings results on Thursday, November 2nd. The company reported $0.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.55. The business had revenue of $18.29 billion for the quarter, compared to analyst estimates of $18.24 billion. Dow Chemical had a net margin of 5.01% and a return on equity of 9.73%. Dow Chemical’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. equities analysts expect that Dow Chemical Company will post 3.35 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 15th were issued a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $1.52 annualized dividend and a yield of 2.02%.
In related news, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew N. Liveris sold 187,402 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were 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. In the last 90 days, insiders sold 495,951 shares of company stock worth $35,502,729. 0.89% of the stock is owned by company insiders.
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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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