Dow Chemical to create an education hub
On June 21, the Dow Chemical Company, which is part of DowDuPont (DWDP) announced a collaboration with the University of Michigan and Delta College to develop an innovation and education hub.
Dow Chemical and Delta College’s education hub is expected to help to build a workforce that can discover innovations for sustainable solutions in the Great Lake Bay region. In this regard, Dow Chemical Company plans to provide a grant of $4.0 million and another $2.0 million grant from Dow Corning Foundation.
Groundbreaking for this facility is expected to occur in 2019 and could be completed in 12–18 months. The facility is expected to have a science and computer lab, classrooms, and advanced educational and training technology.
Dow Chemical and the University of Michigan announced the Andrew N. Liveris Innovation Institute. The center is expected to help focus on advanced manufacturing, sustainable innovation, and global citizenship. Dow Chemical Company plans to award a $1.5 million grant to the University of Michigan over three years to support this program.
DowDuPont’s stock price update
Continued volatility in the stock market caused DowDupont stock to fall 1.1%. Its stock closed at $67.00 for the week ended June 22. The decline pushed the stock to trade 0.8% below its 100-day moving average price of $67.51. Its stock has declined 6.8% year-to-date. In comparison, Eastman Chemical (EMN), Westlake Chemical (WLK), and Celanese (CE) have gained 10.2%, ~1.3%, and 6.5%, respectively.
DowDuPont’s 14-day RSI (relative strength index) of 51 indicates that the stock is neither overbought nor oversold.
Investors could hold DowDuPont indirectly by investing in the Materials Select Sector SPDR Fund (XLB). XLB invested 22.8% of its holdings in DowDuPont on June 22.