Glg LLC cut its stake in shares of Dow Chemical Co (NYSE:DOW) by 37.4% during the fourth quarter, Holdings Channel reports. The fund owned 81,874 shares of the company’s stock after selling 48,827 shares during the period. Glg LLC’s holdings in Dow Chemical were worth $4,685,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Searle & CO. boosted its stake in shares of Dow Chemical by 321.2% in the third quarter. Searle & CO. now owns 23,270 shares of the company’s stock valued at $1,207,000 after buying an additional 17,745 shares during the last quarter. Stokes & Hubbell Capital Management LLC boosted its stake in shares of Dow Chemical by 0.4% in the third quarter. Stokes & Hubbell Capital Management LLC now owns 5,990 shares of the company’s stock valued at $310,000 after buying an additional 25 shares during the last quarter. Founders Financial Securities LLC bought a new stake in shares of Dow Chemical during the third quarter valued at about $331,000. Bremer Trust National Association bought a new stake in shares of Dow Chemical during the third quarter valued at about $837,000. Finally, First American Bank boosted its stake in shares of Dow Chemical by 7.7% in the third quarter. First American Bank now owns 96,687 shares of the company’s stock valued at $5,011,000 after buying an additional 6,877 shares during the last quarter. Institutional investors own 69.38% of the company’s stock.
Shares of Dow Chemical Co (NYSE:DOW) opened at 64.50 on Tuesday. The firm has a market cap of $78.26 billion, a price-to-earnings ratio of 18.32 and a beta of 1.12. Dow Chemical Co has a 52-week low of $47.51 and a 52-week high of $64.65. The firm has a 50-day moving average price of $62.11 and a 200-day moving average price of $56.84.
Dow Chemical (NYSE:DOW) last released its quarterly earnings results on Thursday, January 26th. The company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.11. Dow Chemical had a return on equity of 16.85% and a net margin of 8.97%. The company earned $13 billion during the quarter, compared to analysts’ expectations of $12.36 billion. During the same period in the previous year, the firm posted $0.93 earnings per share. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. Analysts predict that Dow Chemical Co will post $4.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 31st will be issued a $0.46 dividend. The ex-dividend date is Wednesday, March 29th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.85%. Dow Chemical’s dividend payout ratio (DPR) is 54.76%.
DOW has been the subject of a number of research analyst reports. Zacks Investment Research upgraded 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. Credit Suisse Group AG set a $66.00 price target on Dow Chemical and gave the stock a “buy” rating in a report on Friday, January 27th. Jefferies Group LLC upgraded Dow Chemical from a “hold” rating to a “buy” rating and increased their price target for the stock from $65.00 to $75.00 in a report on Monday, March 6th. Vetr cut Dow Chemical from a “strong-buy” rating to a “buy” rating and set a $71.22 price target for the company. in a report on Monday, March 13th. Finally, Barclays PLC reiterated a “hold” rating and set a $65.00 price target on shares of Dow Chemical in a report on Sunday, January 29th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $66.14.
About Dow Chemical
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