Private Wealth Partners LLC cut its position in Dow Chemical Co. (NYSE:DOW) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,260 shares of the company’s stock after selling 1,600 shares during the period. Private Wealth Partners LLC’s holdings in Dow Chemical were worth $1,703,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. First National Trust Co. increased its position in Dow Chemical by 1.8% in the second quarter. First National Trust Co. now owns 47,745 shares of the company’s stock worth $2,374,000 after buying an additional 833 shares during the period. Benedict Financial Advisors Inc. increased its position in Dow Chemical by 0.9% in the second quarter. Benedict Financial Advisors Inc. now owns 16,773 shares of the company’s stock valued at $831,000 after buying an additional 147 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in Dow Chemical during the second quarter valued at approximately $111,000. Chase Investment Counsel Corp increased its position in Dow Chemical by 12.8% in the second quarter. Chase Investment Counsel Corp now owns 6,700 shares of the company’s stock valued at $333,000 after buying an additional 760 shares during the last quarter. Finally, First Midwest Bank Trust Division increased its position in Dow Chemical by 4.8% in the second quarter. First Midwest Bank Trust Division now owns 4,224 shares of the company’s stock valued at $210,000 after buying an additional 195 shares during the last quarter. 67.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of Dow Chemical Co. (NYSE:DOW) traded down 1.07% on Tuesday, reaching $51.86. 6,884,016 shares of the company’s stock were exchanged. Dow Chemical Co. has a 12 month low of $40.26 and a 12 month high of $57.10. The firm’s 50-day moving average price is $53.04 and its 200 day moving average price is $52.24. The company has a market cap of $58.44 billion, a price-to-earnings ratio of 7.58 and a beta of 1.40.
Dow Chemical (NYSE:DOW) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.86 by $0.09. Dow Chemical had a net margin of 18.31% and a return on equity of 18.86%. The firm had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.24 billion. During the same period in the previous year, the firm posted $0.91 EPS. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. Equities research analysts predict that Dow Chemical Co. will post $3.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.46 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.84 annualized dividend and a dividend yield of 3.55%. Dow Chemical’s dividend payout ratio is presently 27.10%.
Several equities analysts have commented on the stock. Credit Suisse Group AG reissued a “buy” rating and set a $61.00 target price on shares of Dow Chemical in a research 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 on the stock. in a research report on Monday, July 18th. Nomura reissued a “buy” rating on shares of Dow Chemical in a research report 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 report on Tuesday, September 20th. Finally, JPMorgan Chase & Co. raised shares of Dow Chemical from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $50.00 to $60.00 in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. Dow Chemical currently has a consensus 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.