The Dow Chemical Company EVP Unloads $3,557,520 in Stock (DOW)
The Dow Chemical Company (NYSE:DOW) EVP James R. Fitterling sold 72,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $49.41, for a total value of $3,557,520.00. Following the transaction, the executive vice president now directly owns 189,474 shares in the company, valued at approximately $9,361,910. The transaction was disclosed in a filing with the SEC, which is available at this link.
The Dow Chemical Company (NYSE:DOW) traded up 0.40% on Wednesday, hitting $49.94. 7,113,036 shares of the company’s stock traded hands. The Dow Chemical Company has a 52-week low of $31.65 and a 52-week high of $50.96. The stock has a 50-day moving average of $48.89 and a 200-day moving average of $45.44. The company has a market cap of $59.459 billion and a price-to-earnings ratio of 12.49. The Dow Chemical Company also was the target of some unusual options trading activity on Monday. Stock investors acquired 9,312 put options on the stock. This is an increase of approximately 135% compared to the average volume of 3,959 put options.
The Dow Chemical Company (NYSE:DOW) last released its earnings data on Wednesday, April 23rd. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.08. The company had revenue of $14.50 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. Analysts expect that The Dow Chemical Company will post $2.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 30th. Stockholders of record on Monday, June 30th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, June 26th.
Several analysts have recently commented on the stock. Analysts at Wells Fargo & Co. upgraded shares of The Dow Chemical Company from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Separately, analysts at Susquehanna raised their price target on shares of The Dow Chemical Company from $47.00 to $57.00 in a research note on Thursday, May 8th. They now have a “neutral” rating on the stock. Finally, analysts at Argus raised their price target on shares of The Dow Chemical Company from $51.00 to $56.00 in a research note on Tuesday, April 29th. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $52.90.
The Dow Chemical Company combines the power of science and technology to passionately innovate what is essential to human progress.
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