Gargoyle Investment Advisor L.L.C. boosted its stake in Dow Chemical Co. (NYSE:DOW) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,409 shares of the company’s stock after buying an additional 102 shares during the period. Gargoyle Investment Advisor L.L.C.’s holdings in Dow Chemical were worth $2,506,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in DOW. Edgar Lomax Co. VA increased its position in shares of Dow Chemical by 4.2% in the first quarter. Edgar Lomax Co. VA now owns 922,749 shares of the company’s stock valued at $46,931,000 after buying an additional 36,775 shares during the period. Avalon Advisors LLC increased its position in shares of Dow Chemical by 4.7% in the first quarter. Avalon Advisors LLC now owns 491,973 shares of the company’s stock valued at $25,022,000 after buying an additional 22,098 shares during the period. Legal & General Group Plc increased its position in shares of Dow Chemical by 3.5% in the first quarter. Legal & General Group Plc now owns 5,145,288 shares of the company’s stock valued at $261,704,000 after buying an additional 173,534 shares during the period. PGGM Investments increased its position in shares of Dow Chemical by 2.5% in the second quarter. PGGM Investments now owns 784,601 shares of the company’s stock valued at $39,003,000 after buying an additional 18,878 shares during the period. Finally, 1st Global Advisors Inc. purchased a new position in shares of Dow Chemical during the second quarter valued at approximately $388,000. Hedge funds and other institutional investors own 67.52% of the company’s stock.
Shares of Dow Chemical Co. (NYSE:DOW) traded up 1.14% during trading on Monday, hitting $52.42. 7,016,640 shares of the stock were exchanged. The firm has a 50 day moving average price of $53.08 and a 200 day moving average price of $52.23. Dow Chemical Co. has a 52 week low of $40.26 and a 52 week high of $57.10. The firm has a market capitalization of $59.07 billion, a P/E ratio of 7.66 and a beta of 1.40.
Dow Chemical (NYSE:DOW) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates 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 had revenue of $12 billion for the quarter, compared to the consensus estimate of $11.24 billion. During the same period last year, the company posted $0.91 EPS. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. Analysts forecast that Dow Chemical Co. will post $3.53 EPS for the current fiscal year.
The business also recently declared 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. The ex-dividend date is Wednesday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.51%. Dow Chemical’s payout ratio is currently 27.10%.
DOW has been the topic of several research reports. Vetr downgraded shares of Dow Chemical from a “hold” rating to a “sell” rating and set a $52.40 price objective on the stock. in a report on Monday, August 29th. 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. Nomura boosted their price objective on shares of Dow Chemical from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Credit Suisse Group AG restated a “buy” rating on shares of Dow Chemical in a report on Monday, June 27th. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $60.10.
About Dow Chemical
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