Chase Investment Counsel Corp boosted its position in shares of Dow Chemical Co. (NYSE:DOW) by 12.8% during the second quarter, Holdings Channel reports. The fund owned 6,700 shares of the company’s stock after buying an additional 760 shares during the period. Chase Investment Counsel Corp’s holdings in Dow Chemical were worth $333,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in DOW. Wade G W & Inc. raised its stake in shares of Dow Chemical by 19.4% in the first quarter. Wade G W & Inc. now owns 74,642 shares of the company’s stock worth $3,796,000 after buying an additional 12,132 shares during the last quarter. Glenmede Trust Co. NA increased its position in Dow Chemical by 5.6% in the first quarter. Glenmede Trust Co. NA now owns 302,785 shares of the company’s stock valued at $15,398,000 after buying an additional 16,173 shares during the period. Investment Centers of America Inc. increased its position in Dow Chemical by 9.5% in the first quarter. Investment Centers of America Inc. now owns 37,023 shares of the company’s stock valued at $1,883,000 after buying an additional 3,227 shares during the period. Sii Investments Inc. WI increased its position in Dow Chemical by 80.9% in the first quarter. Sii Investments Inc. WI now owns 25,876 shares of the company’s stock valued at $1,315,000 after buying an additional 11,574 shares during the period. Finally, Sanders Morris Harris Inc. acquired a new position in Dow Chemical during the first quarter valued at approximately $813,000. 67.52% of the stock is currently owned by institutional investors.
Shares of Dow Chemical Co. (NYSE:DOW) traded up 0.19% during midday trading on Friday, hitting $51.83. 6,649,584 shares of the stock were exchanged. The company has a market cap of $58.40 billion, a PE ratio of 7.57 and a beta of 1.52. The firm has a 50-day moving average price of $53.06 and a 200-day moving average price of $52.20. Dow Chemical Co. has a 12-month low of $40.26 and a 12-month high of $57.10.
Dow Chemical (NYSE:DOW) last issued its earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, beating the Zacks’ 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 business had revenue of $12 billion for the quarter, compared to the consensus estimate of $11.24 billion. During the same quarter last year, the firm posted $0.91 EPS. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. On average, equities analysts predict that Dow Chemical Co. will post $3.53 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Wednesday, September 28th. Dow Chemical’s dividend payout ratio is presently 27.10%.
Several equities analysts have commented on the stock. Vetr upgraded shares of Dow Chemical from a “hold” rating to a “buy” rating and set a $57.48 price target for the company in a research note on Monday, September 5th. Credit Suisse Group AG restated a “buy” rating and issued a $61.00 price target on shares of Dow Chemical in a research note on Friday, July 29th. Nomura boosted their price target on shares of Dow Chemical from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Barclays PLC boosted their price target on shares of Dow Chemical from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, July 29th. Finally, JPMorgan Chase & Co. upgraded shares of Dow Chemical from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $50.00 to $60.00 in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. Dow Chemical has a consensus rating of “Buy” and an average target price of $59.83.
Dow Chemical Company Profile
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