Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Dow Chemical Co (NYSE:DOW) by 7.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,483,638 shares of the basic materials company’s stock after purchasing an additional 231,019 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of Dow Chemical worth $219,713,000 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. increased its stake in shares of Dow Chemical by 7.6% during the first quarter. Vanguard Group Inc. now owns 81,191,459 shares of the basic materials company’s stock worth $5,158,905,000 after purchasing 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.
Several brokerages recently issued reports on DOW. BidaskClub raised shares of Dow Chemical from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Jefferies Group LLC reiterated a “buy” rating on shares of Dow Chemical in a report on Tuesday, August 29th. Zacks Investment Research lowered shares of Dow Chemical from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Royal Bank Of Canada reiterated a “buy” rating and issued a $78.00 target price on shares of Dow Chemical in a report on Wednesday, September 6th. Finally, Cowen and Company reiterated a “hold” rating and issued a $60.00 target price on shares of Dow Chemical in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $72.02.
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Shares of Dow Chemical Co (DOW) opened at 66.65 on Friday. Dow Chemical Co has a 52 week low of $51.57 and a 52 week high of $67.50. The company’s 50-day moving average is $64.79 and its 200 day moving average is $63.46. The stock has a market capitalization of $81.54 billion, a P/E ratio of 28.54 and a beta of 1.13.
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. On average, equities analysts forecast that Dow Chemical Co will post $4.11 EPS for the current fiscal year.
Dow Chemical Company Profile
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