DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Dow Chemical Co (NYSE:DOW) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 987,757 shares of the company’s stock, valued at approximately $56,519,000.
A number of other large investors have also modified their holdings of DOW. Gradient Investments LLC increased its stake in shares of Dow Chemical by 6.5% in the third quarter. Gradient Investments LLC now owns 108,163 shares of the company’s stock valued at $5,606,000 after buying an additional 6,569 shares in the last quarter. Community Trust & Investment Co. increased its stake in shares of Dow Chemical by 0.7% in the third quarter. Community Trust & Investment Co. now owns 17,120 shares of the company’s stock valued at $887,000 after buying an additional 120 shares in the last quarter. First Financial Bank N.A. Trust Division acquired a new stake in shares of Dow Chemical during the third quarter valued at $206,000. Dynamic Advisors Solutions LLC increased its stake in shares of Dow Chemical by 1.5% in the third quarter. Dynamic Advisors Solutions LLC now owns 8,665 shares of the company’s stock valued at $449,000 after buying an additional 126 shares in the last quarter. Finally, Grassi Investment Management increased its stake in shares of Dow Chemical by 0.3% in the third quarter. Grassi Investment Management now owns 105,675 shares of the company’s stock valued at $5,477,000 after buying an additional 310 shares in the last quarter. 69.38% of the stock is owned by institutional investors and hedge funds.
Dow Chemical Co (NYSE:DOW) opened at 63.08 on Monday. The stock has a market capitalization of $76.54 billion, a PE ratio of 17.92 and a beta of 1.12. Dow Chemical Co has a 12 month low of $47.51 and a 12 month high of $64.73. The company’s 50-day moving average price is $62.57 and its 200 day moving average price is $57.17.
Dow Chemical (NYSE:DOW) last posted its quarterly earnings data on Thursday, January 26th. The company reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.11. The company earned $13 billion during the quarter, compared to analyst estimates of $12.36 billion. Dow Chemical had a net margin of 8.97% and a return on equity of 16.85%. The company’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the business posted $0.93 earnings per share. On average, analysts forecast that Dow Chemical Co will post $4.09 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 31st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, March 29th. Dow Chemical’s payout ratio is 54.76%.
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DOW has been the subject of several recent analyst reports. Vetr downgraded Dow Chemical from a “buy” rating to a “hold” rating and set a $57.93 price target for the company. in a report on Wednesday, November 30th. Royal Bank of Canada raised their price target on Dow Chemical from $68.00 to $72.00 and gave the stock a “top pick” rating in a report on Monday, December 19th. Sanford C. Bernstein reissued an “overweight” rating on shares of Dow Chemical in a report on Friday, December 23rd. Zacks Investment Research raised Dow Chemical from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Friday, December 30th. Finally, Credit Suisse Group AG set a $66.00 price objective on Dow Chemical and gave the stock a “buy” rating in a research note on Friday, January 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $68.02.
About Dow Chemical
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