PGGM Investments raised its stake in Dow Chemical Co. (NYSE:DOW) by 2.5% during the second quarter, Holdings Channel reports. The fund owned 784,601 shares of the company’s stock after buying an additional 18,878 shares during the period. PGGM Investments’ holdings in Dow Chemical were worth $39,003,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Americafirst Capital Management LLC acquired a new stake in Dow Chemical during the second quarter valued at about $112,000. Smith Asset Management Group LP boosted 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 acquired a new stake in Dow Chemical during the second quarter valued at about $120,000. Vigilant Capital Management LLC boosted 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. Finally, Capital Analysts LLC boosted its stake in 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 during the last quarter. 67.53% of the stock is currently owned by institutional investors.
Shares of Dow Chemical Co. (NYSE:DOW) traded down 0.21% during trading on Monday, reaching $52.13. 5,041,064 shares of the company were exchanged. Dow Chemical Co. has a 1-year low of $39.84 and a 1-year high of $57.10. The firm has a market capitalization of $58.74 billion, a PE ratio of 7.62 and a beta of 1.52. The company’s 50-day moving average is $53.22 and its 200 day moving average is $52.18.
Dow Chemical (NYSE:DOW) last issued its earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.09. The business had revenue of $12 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. Equities research analysts expect 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. Shareholders of record on Friday, September 30th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.84 dividend on an annualized basis and a yield of 3.53%. Dow Chemical’s dividend payout ratio is currently 27.10%.
Several analysts recently issued reports on DOW shares. Nomura reissued a “buy” rating on shares of Dow Chemical in a research note on Tuesday, July 12th. Credit Suisse Group AG restated a “buy” rating on shares of Dow Chemical in a report on Monday, June 27th. Vetr upgraded shares of Dow Chemical from a “hold” rating to a “buy” rating and set a $57.48 price objective for the company in a report on Monday, September 5th. 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. Finally, Barclays PLC raised their price objective on shares of Dow Chemical from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $59.83.
Dow Chemical Company Profile
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.