Horan Capital Advisors LLC. Sells 12,489 Shares of Dow Chemical Co (DOW)

Horan Capital Advisors LLC. reduced its stake in Dow Chemical Co (NYSE:DOW) by 19.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,179 shares of the basic materials company’s stock after selling 12,489 shares during the period. Dow Chemical makes up approximately 2.2% of Horan Capital Advisors LLC.’s investment portfolio, making the stock its 11th biggest position. Horan Capital Advisors LLC.’s holdings in Dow Chemical were worth $3,291,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Dow Chemical by 7.6% in 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 buying an additional 5,722,128 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Dow Chemical by 0.8% in the first 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 buying an additional 130,524 shares during the period. FMR LLC boosted its stake in shares of Dow Chemical by 11.8% in the first quarter. FMR LLC now owns 15,503,280 shares of the basic materials company’s stock valued at $985,078,000 after buying an additional 1,638,866 shares during the period. Glenview Capital Management LLC boosted its stake in shares of Dow Chemical by 34.8% in 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 buying an additional 3,066,049 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Dow Chemical by 26.8% in 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 buying an additional 2,237,295 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Several brokerages recently issued reports on DOW. BidaskClub cut Dow Chemical from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Alembic Global Advisors set a $85.00 target price on Dow Chemical and gave the stock a “buy” rating in a research note on Thursday, July 27th. Royal Bank Of Canada restated a “buy” rating and set a $76.00 target price on shares of Dow Chemical in a research note on Thursday, July 6th. Zacks Investment Research cut Dow Chemical from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Cowen and Company restated a “hold” rating and set a $60.00 target price on shares of Dow Chemical in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $72.02.

Dow Chemical Co (NYSE DOW) opened at 66.65 on Friday. 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 results on Thursday, July 27th. The basic materials company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.07. The business had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $13.60 billion. Dow Chemical had a net margin of 9.82% and a return on equity of 19.01%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 earnings per share. On average, equities analysts predict that Dow Chemical Co will post $4.11 earnings per share for the current fiscal year.

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About Dow Chemical

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

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