Wagner Bowman Management Corp continued to hold its position in shares of Dow Chemical Co. (NYSE:DOW) during the second quarter, Holdings Channel reports. The fund owned 8,997 shares of the company’s stock at the end of the second quarter. Wagner Bowman Management Corp’s holdings in Dow Chemical were worth $447,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Edgar Lomax Co. VA boosted its stake in 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 boosted its stake in 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 boosted its stake in 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. 1st Global Advisors Inc. purchased a new stake in Dow Chemical during the second quarter valued at approximately $388,000. Finally, Nordea Investment Management AB boosted its stake in Dow Chemical by 223.1% in the second quarter. Nordea Investment Management AB now owns 2,588,422 shares of the company’s stock valued at $128,670,000 after buying an additional 1,787,393 shares during the period. Hedge funds and other institutional investors own 67.53% of the company’s stock.
Shares of Dow Chemical Co. (NYSE:DOW) traded down 0.61% during mid-day trading on Friday, hitting $52.24. The stock had a trading volume of 6,033,189 shares. Dow Chemical Co. has a 1-year low of $39.84 and a 1-year high of $57.10. The firm’s 50 day moving average price is $53.27 and its 200 day moving average price is $52.11. The company has a market cap of $58.87 billion, a P/E ratio of 7.63 and a beta of 1.52.
Dow Chemical (NYSE:DOW) last announced its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.09. The business earned $12 billion during the quarter, compared to analyst estimates of $11.24 billion. Dow Chemical had a return on equity of 18.86% and a net margin of 18.31%. Dow Chemical’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. Analysts predict that Dow Chemical Co. will post $3.53 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.52%. The ex-dividend date is Wednesday, September 28th. Dow Chemical’s dividend payout ratio is currently 27.10%.
Several equities research analysts have recently commented on the company. Credit Suisse Group AG reissued a “buy” rating and issued a $61.00 target price on shares of Dow Chemical in a research note on Friday, July 29th. JPMorgan Chase & Co. cut Dow Chemical from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $57.00 to $50.00 in a research note on Tuesday, June 28th. Nomura reissued a “buy” rating on shares of Dow Chemical in a research note on Tuesday, July 12th. Credit Agricole SA cut Dow Chemical from an “outperform” rating to an “underperform” rating in a research note on Wednesday, July 6th. Finally, Barclays PLC lifted their price objective on Dow Chemical from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $59.83.
About Dow Chemical
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