ING Groep NV lowered its stake in Dow Chemical Co. (NYSE:DOW) by 94.5% during the second quarter, Holdings Channel reports. The firm owned 21,708 shares of the company’s stock after selling 373,119 shares during the period. ING Groep NV’s holdings in Dow Chemical were worth $1,079,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Dow Chemical during the second quarter valued at $111,000. Americafirst Capital Management LLC bought a new stake in Dow Chemical during the second quarter valued at $112,000. Smith Asset Management Group LP increased its stake 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 last quarter. Cribstone Capital Management LLC bought a new stake in Dow Chemical during the second quarter valued at $120,000. Finally, Vigilant Capital Management LLC increased its stake in 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 during the last quarter. 67.52% of the stock is currently owned by hedge funds and other institutional investors.
Dow Chemical Co. (NYSE:DOW) traded down 1.12% during mid-day trading on Friday, reaching $52.99. 6,810,064 shares of the company traded hands. The firm has a market cap of $59.71 billion, a PE ratio of 7.74 and a beta of 1.40. The stock’s 50-day moving average price is $53.07 and its 200-day moving average price is $52.26. Dow Chemical Co. has a one year low of $40.26 and a one year high of $57.10.
Dow Chemical (NYSE:DOW) last issued its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.09. The company had revenue of $12 billion for the quarter, compared to analyst estimates of $11.24 billion. Dow Chemical had a net margin of 18.31% and a return on equity of 18.86%. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. Analysts forecast that Dow Chemical Co. will post $3.53 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Wednesday, September 28th. Dow Chemical’s dividend payout ratio (DPR) is presently 27.10%.
Several research firms have recently weighed in on DOW. Vetr raised shares of Dow Chemical from a “hold” rating to a “buy” rating and set a $57.48 target price for the company in a research report on Monday, September 5th. Nomura boosted their target price on shares of Dow Chemical from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Credit Suisse Group AG reissued a “buy” rating and issued a $61.00 target price on shares of Dow Chemical in a research report on Friday, July 29th. 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 report on Friday, July 29th. Finally, Barclays PLC boosted their target price on shares of Dow Chemical from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Dow Chemical presently has an average rating of “Buy” and a consensus target price of $60.10.
About Dow Chemical
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