Dow Chemical Co. (NYSE:DOW) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 34,272,905 shares, an increase of 52.6% from the August 31st total of 22,460,168 shares. Based on an average trading volume of 6,505,177 shares, the short-interest ratio is currently 5.3 days. Approximately 3.1% of the company’s stock are sold short.
Shares of Dow Chemical (NYSE:DOW) opened at 51.83 on Friday. Dow Chemical has a 12 month low of $40.26 and a 12 month high of $57.10. The company has a market cap of $58.40 billion, a P/E ratio of 7.57 and a beta of 1.52. The stock’s 50 day moving average is $53.06 and its 200-day moving average is $52.20.
Dow Chemical (NYSE:DOW) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.86 by $0.09. Dow Chemical had a net margin of 18.31% and a return on equity of 18.86%. The company earned $12 billion during the quarter, compared to analysts’ expectations of $11.24 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The firm’s revenue was down 7.4% on a year-over-year basis. On average, equities analysts forecast that Dow Chemical will post $3.53 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Wednesday, September 28th. Dow Chemical’s dividend payout ratio (DPR) is presently 27.10%.
A number of equities analysts recently weighed in on the stock. Credit Suisse Group AG restated a “buy” rating and issued a $61.00 price objective on shares of Dow Chemical in a report on Friday, July 29th. Vetr lowered shares of Dow Chemical from a “sell” rating to a “strong sell” rating and set a $46.12 price objective for the company. in a report on Monday, July 18th. Nomura restated a “buy” rating on shares of Dow Chemical in a report on Tuesday, July 12th. RBC Capital Markets set a $65.00 price objective on shares of Dow Chemical and gave the stock a “buy” rating in a report on Tuesday, September 20th. Finally, JPMorgan Chase & Co. upgraded shares of Dow Chemical from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $50.00 to $60.00 in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. Dow Chemical has a consensus rating of “Buy” and an average target price of $59.83.
A number of hedge funds and other institutional investors have recently bought and sold shares of DOW. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Dow Chemical during the second quarter valued at approximately $111,000. Americafirst Capital Management LLC purchased a new position in Dow Chemical during the second quarter valued at approximately $112,000. Nelson Roberts Investment Advisors LLC boosted its position in Dow Chemical by 2.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 2,260 shares of the company’s stock valued at $112,000 after buying an additional 50 shares during the period. Pinkerton Retirement Specialists LLC purchased a new position in Dow Chemical during the second quarter valued at approximately $115,000. Finally, Smith Asset Management Group LP boosted its position in Dow Chemical by 23.7% in the second quarter. Smith Asset Management Group LP now owns 2,350 shares of the company’s stock valued at $117,000 after buying an additional 450 shares during the period. Institutional investors own 67.52% of the company’s stock.
Dow Chemical Company Profile
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