Dow’s new center in Toronto
On May 23, Dow Chemical, which is now a merged entity of DowDuPont (DWDP), expanded its presence in Canada with a new regional sales center in Toronto. The new center was inaugurated on May 24 in the presence of Canadian government officials and Dow’s leadership.
Dow sees a growth opportunity in the expanding Canadian economy. The new regional sales center will help improve Dow’s customer service and act a center for addressing Canadian customers’ needs.
Andrew Liveris, Dow’s chairman and CEO, said, “This facility is a declaration of our ambition to lead with innovation and collaboration to shape the most innovative, customer centric, inclusive and sustainable materials science company in the world. The future Dow is putting customers at the center of what we do, to understand their ideas, their needs and how they want to work with us in this dynamic region of Eastern Canada. We want to sit with them at the design table locally at their facilities and here in our new Toronto Center to create value together.”
DowDuPont’s stock performance
DowDuPont declined 2.8% and closed at $65.71 for the week ending May 25. The decline caused the stock to trade 4.9% below the 100-day moving average price of $69.06, which indicates a downward trend in the stock. On a year-to-date basis, the stock has declined 7.7%. In comparison, Eastman Chemical (EMN), Westlake Chemical (WLK), and Monsanto (MON) have gained 14.7%, 11.0%, and 8.3%, respectively. DowDuPont’s 14-day relative strength index of 47 indicates that the stock isn’t overbought or oversold.
Investors could hold DowDuPont indirectly by investing in the Materials Select Sector SPDR Fund (XLB). XLB has invested 21.6% of its holdings in DowDuPont as of May 25.