Alethea Capital Management LLC Purchases 8,500 Shares of Dow Chemical Co (DOW)

Alethea Capital Management LLC lifted its stake in shares of Dow Chemical Co (NYSE:DOW) by 100.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,000 shares of the basic materials company’s stock after purchasing an additional 8,500 shares during the period. Alethea Capital Management LLC’s holdings in Dow Chemical were worth $1,072,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Dow Chemical by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 81,191,459 shares of the basic materials company’s stock valued at $5,158,905,000 after acquiring an additional 5,722,128 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Dow Chemical by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,655,781 shares of the basic materials company’s stock valued at $1,050,480,000 after acquiring an additional 114,858 shares in the last quarter. FMR LLC grew its stake in Dow Chemical by 11.8% during the 1st quarter. FMR LLC now owns 15,503,280 shares of the basic materials company’s stock valued at $985,078,000 after acquiring an additional 1,638,866 shares in the last quarter. Glenview Capital Management LLC grew its stake in Dow Chemical by 34.8% during the 1st quarter. Glenview Capital Management LLC now owns 11,864,132 shares of the basic materials company’s stock valued at $753,847,000 after acquiring an additional 3,066,049 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Dow Chemical by 26.8% during the 1st quarter. Ameriprise Financial Inc. now owns 10,592,146 shares of the basic materials company’s stock valued at $674,160,000 after acquiring an additional 2,237,295 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Shares of Dow Chemical Co (DOW) opened at 66.65 on Friday. The stock has a market capitalization of $81.54 billion, a P/E ratio of 28.54 and a beta of 1.13. The firm has a 50 day moving average of $64.79 and a 200-day moving average of $63.46. Dow Chemical Co has a 12 month low of $51.57 and a 12 month high of $67.50.

Dow Chemical (NYSE:DOW) last announced its earnings results on Thursday, July 27th. The basic materials company reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.07. Dow Chemical had a return on equity of 19.01% and a net margin of 9.82%. The company had revenue of $13.83 billion during the quarter, compared to analyst estimates of $13.60 billion. During the same period last year, the company posted $0.95 earnings per share. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. Analysts forecast that Dow Chemical Co will post $4.11 earnings per share for the current year.

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DOW has been the topic of several recent analyst reports. Cowen and Company reiterated a “hold” rating and issued a $60.00 target price on shares of Dow Chemical in a report on Monday, August 28th. Alembic Global Advisors set a $85.00 target price on shares of Dow Chemical and gave the company a “buy” rating in a report on Thursday, July 27th. BidaskClub upgraded shares of Dow Chemical from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Royal Bank Of Canada restated a “buy” rating and issued a $76.00 price objective on shares of Dow Chemical in a report on Thursday, July 6th. Finally, Jefferies Group LLC restated a “buy” rating on shares of Dow Chemical in a report on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $72.02.

About Dow Chemical

Institutional Ownership by Quarter for Dow Chemical (NYSE:DOW)

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