Tokio Marine Asset Management Co. Ltd. Trims Position in Dow Chemical Co (DOW)

Tokio Marine Asset Management Co. Ltd. decreased its stake in shares of Dow Chemical Co (NYSE:DOW) by 6.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,695 shares of the basic materials company’s stock after selling 2,784 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Dow Chemical were worth $2,377,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Dow Chemical by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 81,191,459 shares of the basic materials company’s stock valued at $5,158,905,000 after purchasing an additional 5,722,128 shares during the period. Bank of New York Mellon Corp lifted its position in Dow Chemical by 0.8% during the 1st quarter. Bank of New York Mellon Corp now owns 16,540,923 shares of the basic materials company’s stock valued at $1,051,010,000 after purchasing an additional 130,524 shares during the period. FMR LLC lifted its position in Dow Chemical by 11.8% during the 1st quarter. FMR LLC now owns 15,503,280 shares of the basic materials company’s stock valued at $985,078,000 after purchasing an additional 1,638,866 shares during the period. Glenview Capital Management LLC lifted its position in Dow Chemical by 34.8% during the 1st quarter. Glenview Capital Management LLC now owns 11,864,132 shares of the basic materials company’s stock valued at $753,847,000 after purchasing an additional 3,066,049 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Dow Chemical by 26.8% during the 1st quarter. Ameriprise Financial Inc. now owns 10,592,146 shares of the basic materials company’s stock valued at $674,160,000 after purchasing an additional 2,237,295 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Shares of Dow Chemical Co (NYSE:DOW) opened at 66.65 on Wednesday. The company has a market capitalization of $81.54 billion, a PE ratio of 28.54 and a beta of 1.13. Dow Chemical Co has a 52 week low of $51.57 and a 52 week high of $67.50. The stock has a 50 day moving average price of $64.79 and a 200-day moving average price of $63.46.

Dow Chemical (NYSE:DOW) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.07. The company had revenue of $13.83 billion for the quarter, compared to analyst estimates of $13.60 billion. Dow Chemical had a return on equity of 19.01% and a net margin of 9.82%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 earnings per share. Equities research analysts expect that Dow Chemical Co will post $4.11 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, July 31st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Thursday, July 27th. Dow Chemical’s dividend payout ratio is currently 76.99%.

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DOW has been the topic of a number of research reports. Cowen and Company upped their target price on shares of Dow Chemical from $47.00 to $60.00 and gave the company a “market perform” rating in a research report on Wednesday, May 31st. BidaskClub upgraded shares of Dow Chemical from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 1st. Zacks Investment Research downgraded shares of Dow Chemical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Royal Bank of Canada restated a “buy” rating and set a $76.00 target price on shares of Dow Chemical in a research report on Thursday, July 6th. Finally, Alembic Global Advisors set a $85.00 target price on shares of Dow Chemical and gave the company a “buy” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Dow Chemical currently has a consensus rating of “Buy” and a consensus target price of $71.62.

About Dow Chemical

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Institutional Ownership by Quarter for Dow Chemical (NYSE:DOW)

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