Eagle Asset Management Inc. decreased its position in Dow Chemical Co (NYSE:DOW) by 2.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 44,294 shares of the basic materials company’s stock after selling 941 shares during the period. Eagle Asset Management Inc.’s holdings in Dow Chemical were worth $2,793,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of DOW. Vanguard Group Inc. grew its holdings in shares of Dow Chemical by 7.6% in 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 during the last quarter. Jana Partners LLC purchased a new stake in Dow Chemical in the first quarter worth $225,688,000. Glenview Capital Management LLC lifted its stake in Dow Chemical by 34.8% in the first quarter. Glenview Capital Management LLC now owns 11,864,132 shares of the basic materials company’s stock worth $753,847,000 after acquiring an additional 3,066,049 shares during the period. Ameriprise Financial Inc. lifted its stake in Dow Chemical by 26.8% in the first quarter. Ameriprise Financial Inc. now owns 10,592,146 shares of the basic materials company’s stock worth $674,160,000 after acquiring an additional 2,237,295 shares during the period. Finally, FMR LLC lifted its stake in Dow Chemical by 11.8% in the first quarter. FMR LLC now owns 15,503,280 shares of the basic materials company’s stock worth $985,078,000 after acquiring an additional 1,638,866 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.
A number of brokerages recently commented on DOW. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $78.00 price target on shares of Dow Chemical in a research note on Wednesday, September 6th. Alembic Global Advisors set a $85.00 price target on Dow Chemical and gave the stock a “buy” rating in a research note on Thursday, July 27th. BidaskClub raised Dow Chemical from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Cowen and Company reaffirmed a “hold” rating and issued a $60.00 price target on shares of Dow Chemical in a research note on Friday, July 14th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Dow Chemical in a research note on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $72.02.
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Dow Chemical Co (NYSE:DOW) opened at 66.65 on Monday. Dow Chemical Co has a 12 month low of $51.57 and a 12 month high of $67.50. The stock has a market cap of $81.54 billion, a price-to-earnings ratio of 28.54 and a beta of 1.13. The firm’s 50-day moving average price is $64.79 and its 200 day moving average price is $63.46.
Dow Chemical (NYSE:DOW) last issued its earnings results on Thursday, July 27th. The basic materials company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $13.60 billion. During the same period in the prior year, the business earned $0.95 EPS. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, analysts anticipate that Dow Chemical Co will post $4.11 earnings per share for the current year.
About Dow Chemical
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