MU Investments Co. Ltd. decreased its position in shares of Dow Chemical Co. (NYSE:DOW) by 37.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,200 shares of the company’s stock after selling 1,900 shares during the period. MU Investments Co. Ltd.’s holdings in Dow Chemical were worth $158,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in shares of Dow Chemical by 17.9% in the first quarter. Franklin Resources Inc. now owns 16,565,479 shares of the company’s stock worth $842,520,000 after buying an additional 2,517,977 shares during the last quarter. Investec Asset Management LTD raised its stake in shares of Dow Chemical by 7,832.3% in the first quarter. Investec Asset Management LTD now owns 2,161,396 shares of the company’s stock worth $109,929,000 after buying an additional 2,134,148 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Dow Chemical during the second quarter worth approximately $95,854,000. Nordea Investment Management AB raised its stake in shares of Dow Chemical by 223.1% in the second quarter. Nordea Investment Management AB now owns 2,588,422 shares of the company’s stock worth $128,670,000 after buying an additional 1,787,393 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Dow Chemical by 11.8% in the first quarter. Wellington Management Group LLP now owns 15,291,852 shares of the company’s stock worth $777,743,000 after buying an additional 1,616,491 shares during the last quarter. 67.52% of the stock is owned by hedge funds and other institutional investors.
Shares of Dow Chemical Co. (NYSE:DOW) traded up 0.19% on Friday, reaching $51.83. The company’s stock had a trading volume of 6,649,584 shares. Dow Chemical Co. has a 12-month low of $40.26 and a 12-month high of $57.10. The firm has a 50 day moving average price of $53.06 and a 200-day moving average price of $52.20. The stock has a market cap of $58.40 billion, a PE ratio of 7.57 and a beta of 1.52.
Dow Chemical (NYSE:DOW) last issued its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.09. Dow Chemical had a return on equity of 18.86% and a net margin of 18.31%. The business earned $12 billion during the quarter, compared to analysts’ expectations of $11.24 billion. During the same period in the prior year, the business earned $0.91 EPS. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. Equities research analysts expect that Dow Chemical Co. will post $3.53 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Wednesday, September 28th. Dow Chemical’s dividend payout ratio is 27.10%.
DOW has been the subject of a number of research analyst reports. Vetr lowered Dow Chemical from a “hold” rating to a “sell” rating and set a $52.40 price target for the company. in a research note on Monday, August 29th. JPMorgan Chase & Co. raised Dow Chemical from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $50.00 to $60.00 in a research note on Friday, July 29th. Nomura raised their price target on Dow Chemical from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Credit Suisse Group AG reiterated 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 Dow Chemical and gave the stock a “buy” rating in a report on Tuesday, September 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $59.83.
About Dow Chemical
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