Sit Investment Associates Inc. reduced its position in Dow Chemical Co. (NYSE:DOW) by 54.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 399,075 shares of the company’s stock after selling 486,160 shares during the period. Sit Investment Associates Inc.’s holdings in Dow Chemical were worth $19,838,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Dixon Hubard Feinour & Brown Inc. VA purchased a new stake in Dow Chemical during the first quarter worth $275,000. RMB Capital Management LLC bought a new stake in shares of Dow Chemical during the first quarter valued at $2,787,000. Rehmann Capital Advisory Group increased its stake in shares of Dow Chemical by 0.4% in the first quarter. Rehmann Capital Advisory Group now owns 193,035 shares of the company’s stock valued at $9,818,000 after buying an additional 813 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Dow Chemical by 1.6% in the first quarter. Prudential Financial Inc. now owns 1,512,116 shares of the company’s stock valued at $76,906,000 after buying an additional 23,400 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in shares of Dow Chemical by 15.9% in the first quarter. Stratos Wealth Partners LTD. now owns 26,220 shares of the company’s stock valued at $1,334,000 after buying an additional 3,602 shares during the last quarter. Institutional investors own 67.52% of the company’s stock.
Dow Chemical Co. (NYSE:DOW) traded down 1.12% during midday trading on Friday, hitting $52.99. The stock had a trading volume of 6,783,429 shares. The company’s 50 day moving average price is $53.07 and its 200-day moving average price is $52.25. Dow Chemical Co. has a 52-week low of $40.26 and a 52-week high of $57.10. The stock has a market cap of $59.71 billion, a PE ratio of 7.74 and a beta of 1.40.
Dow Chemical (NYSE:DOW) last announced its earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.09. The firm earned $12 billion during the quarter, compared to analysts’ expectations of $11.24 billion. Dow Chemical had a return on equity of 18.86% and a net margin of 18.31%. The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. Analysts forecast that Dow Chemical Co. will post $3.53 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Wednesday, September 28th. Dow Chemical’s dividend payout ratio (DPR) is 27.10%.
Several brokerages have weighed in on DOW. Vetr upgraded Dow Chemical from a “hold” rating to a “buy” rating and set a $57.48 price objective for the company in a research report on Monday, September 5th. Nomura boosted their price objective on Dow Chemical from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Credit Suisse Group AG reiterated a “buy” rating and issued a $61.00 price objective on shares of Dow Chemical in a research report on Friday, July 29th. JPMorgan Chase & Co. upgraded Dow Chemical from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $50.00 to $60.00 in a research report on Friday, July 29th. Finally, Barclays PLC boosted their price objective on Dow Chemical from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $60.10.
Dow Chemical Company Profile
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