First Midwest Bank Trust Division boosted its stake in shares of Dow Chemical Co. (NYSE:DOW) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,224 shares of the company’s stock after buying an additional 195 shares during the period. First Midwest Bank Trust Division’s holdings in Dow Chemical were worth $210,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in DOW. Americafirst Capital Management LLC purchased a new position in shares of Dow Chemical during the second quarter valued at about $112,000. Smith Asset Management Group LP increased its position in shares of 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 in the last quarter. Cribstone Capital Management LLC purchased a new position in shares of Dow Chemical during the second quarter valued at about $120,000. Vigilant Capital Management LLC increased its position in shares of Dow Chemical by 10.0% in the second quarter. Vigilant Capital Management LLC now owns 2,474 shares of the company’s stock valued at $123,000 after buying an additional 224 shares in the last quarter. Finally, Capital Analysts LLC increased its position in shares of Dow Chemical by 26.0% in the second quarter. Capital Analysts LLC now owns 2,557 shares of the company’s stock valued at $127,000 after buying an additional 527 shares in the last quarter. 67.52% of the stock is owned by hedge funds and other institutional investors.
Dow Chemical Co. (NYSE:DOW) traded down 1.12% on Friday, hitting $52.99. 6,810,064 shares of the stock traded hands. Dow Chemical Co. has a 1-year low of $40.26 and a 1-year high of $57.10. The stock has a 50-day moving average price of $53.07 and a 200 day moving average price of $52.26. The company has a market cap of $59.71 billion, a price-to-earnings ratio of 7.74 and a beta of 1.40.
Dow Chemical (NYSE:DOW) last posted its earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 18.31% and a return on equity of 18.86%. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. On average, analysts anticipate 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. The ex-dividend date is Wednesday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.47%. Dow Chemical’s dividend payout ratio (DPR) is currently 27.10%.
Several brokerages recently issued reports on DOW. Credit Suisse Group AG reissued a “buy” rating and set a $61.00 price target on shares of Dow Chemical in a report on Friday, July 29th. Vetr downgraded shares of Dow Chemical from a “sell” rating to a “strong sell” rating and set a $46.12 target price for the company. in a research note on Monday, July 18th. Nomura reaffirmed a “buy” rating on shares of Dow Chemical in a research note on Tuesday, July 12th. RBC Capital Markets set a $65.00 target price on shares of Dow Chemical and gave the stock a “buy” rating in a research note on Tuesday, September 20th. Finally, JPMorgan Chase & Co. raised shares of Dow Chemical from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $50.00 to $60.00 in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Dow Chemical has an average rating of “Buy” and an average target price of $60.10.
About Dow Chemical
Want to see what other hedge funds are holding DOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dow Chemical Co. (NYSE:DOW).
Receive News & Ratings for Dow Chemical Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dow Chemical Co. and related companies with MarketBeat.com's FREE daily email newsletter.