Advisors Asset Management Inc. boosted its position in shares of Dow Chemical Co (NYSE:DOW) by 20.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 195,468 shares of the basic materials company’s stock after purchasing an additional 33,379 shares during the period. Advisors Asset Management Inc.’s holdings in Dow Chemical were worth $12,328,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOW. Vanguard Group Inc. boosted its position in Dow Chemical by 7.6% during the first 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 last quarter. Jana Partners LLC acquired a new stake in Dow Chemical during the first quarter valued at $225,688,000. Glenview Capital Management LLC boosted its position in Dow Chemical by 34.8% during the first 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 last quarter. Ameriprise Financial Inc. boosted its position in Dow Chemical by 26.8% during the first 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 last quarter. Finally, FMR LLC boosted its position in Dow Chemical by 11.8% during the first 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 last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on DOW shares. Alembic Global Advisors set a $85.00 price objective on Dow Chemical and gave the company a “buy” rating in a research report on Thursday, July 27th. Royal Bank Of Canada reissued a “buy” rating and set a $76.00 price objective on shares of Dow Chemical in a research report on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating on shares of Dow Chemical in a research report on Tuesday, August 29th. Cowen and Company restated a “hold” rating and set a $60.00 target price on shares of Dow Chemical in a report on Monday, August 28th. Finally, BidaskClub upgraded Dow Chemical from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $72.02.
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Dow Chemical Co (DOW) opened at 66.65 on Wednesday. The firm’s 50-day moving average price is $64.79 and its 200 day moving average price is $63.46. The company has a market capitalization of $81.54 billion, a price-to-earnings ratio of 28.54 and a beta of 1.13. Dow Chemical Co has a 12-month low of $51.57 and a 12-month high of $67.50.
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. Dow Chemical had a net margin of 9.82% and a return on equity of 19.01%. The company had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $13.60 billion. During the same period in the prior year, the business posted $0.95 EPS. The company’s quarterly revenue was up 15.7% on a year-over-year basis. On average, equities research analysts expect that Dow Chemical Co will post $4.11 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, July 31st were paid a $0.46 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.84 annualized dividend and a yield of 2.76%. Dow Chemical’s dividend payout ratio (DPR) is currently 76.99%.
About Dow Chemical
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