Dow Inc. (DOW) - Get Dow, Inc. Report shares debuted on the New York Stocks Exchange Tuesday, while being added to the Dow Jones Industrial Average, after the group was formally spun-off from parent DowDuPont Inc. undefined last night.

Dow, a materials science-focused company with divisions in packaging, infrastructure and consumer care, will replace DowDuPont in the 30-stock average as of today. It will also trade in the S&P 500 as Brighthouse Financial Inc.  (BHF) - Get Brighthouse Financial, Inc. Report is removed from the broader benchmark.

Dow was spun from its larger parent, a creation of the $130 billion merger between Dupont and Dow, as part of a plan to create three separate companies focusing on agriculture, specialty products and plastics. Cortvea, DowDuPont's agriculture unit, will separate on June 1.

"Today marks the beginning of a new and exciting chapter for Dow," said CEO Jim Fitterling. "The changes we have made to Dow's portfolio, cost structure and mindset are significant. The new Dow is a more focused and streamlined company with a clear playbook to deliver long-term earnings growth and value creation for all stakeholders."

DowDuPont shareholders were offered 1 Dow share for every 3 of their own holdings, with the option of a cash payment in lieu, from the December 2015 split.

Dow shares traded 3% higher on the session at $55.13 each at the start of trading Tuesday, while DowDuPont shares traded 0.11% lower at $36.56 each.

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The group cautioned investors late last week that "near-term trends and discreet headwinds" would clip first quarter earnings at a stronger rate, and now sees operating earnings falling by a "high single digit" percentage.

Specifically, the company pointed to historic flooding in the Midwest that caused transportation disruptions and limited product delivery, as well as delaying pre-season applications on crops.

"It was an event that was out of the control of the company, and due to this, net sales for the first quarter of 2019 are expected to be down 4-6% and operating EBITDA is expected to be down $125 million to $150 million compared to the same quarter last year," the company said.

On the materials sciences side, greater-than-expected margin compression in its packaging and plastics business will mean approximately $100 million lower operating EBITDA compared to previous guidance.

While noting the issues were mostly out of management's control, "That does absolve them," Jim Cramer and the Actions Alerts PLUS team wrote in an updated analysis published Friday. DowDuPont is a holding in Cramer's Action Alerts PLUS portfolio.

The recalibration of the Dow Jones Industrial Average, which takes place today, is the latest change for the historic benchmark, which dumped General Electric (GE) - Get General Electric Company (GE) Report -- an original Dow component -- in favor of Walgreens Boots Alliance (WBA) - Get Walgreens Boots Alliance Inc Report in June of last year.