Traders Sell Shares of Dow Chemical Co. (DOW) on Strength (DOW)
Investors sold shares of Dow Chemical Co. (NYSE:DOW) on strength during trading hours on Monday. $24.35 million flowed into the stock on the tick-up and $56.54 million flowed out of the stock on the tick-down, for a money net flow of $32.19 million out of the stock. Of all stocks tracked, Dow Chemical had the 0th highest net out-flow for the day. Dow Chemical traded up $0.15 for the day and closed at $53.27
Several analysts have weighed in on the company. Vetr cut Dow Chemical from a “sell” rating to a “strong sell” rating and set a $46.12 price objective for the company. in a report on Monday, July 18th. Nomura Holdings Inc. reissued a “buy” rating on shares of Dow Chemical in a report on Tuesday, July 12th. Credit Agricole SA cut Dow Chemical from an “outperform” rating to an “underperform” rating in a report on Wednesday, July 6th. JPMorgan Chase & Co. cut Dow Chemical from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $57.00 to $50.00 in a report on Tuesday, June 28th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Dow Chemical in a report on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $55.58.
The firm has a 50-day moving average price of $51.68 and a 200-day moving average price of $49.88. The stock has a market capitalization of $59.81 billion and a PE ratio of 10.17.
Dow Chemical (NYSE:DOW) last issued its earnings results on Thursday, April 28th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.06. The company had revenue of $10.70 billion for the quarter, compared to analysts’ expectations of $10.66 billion. The company’s revenue was down 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 earnings per share. On average, analysts expect that Dow Chemical Co. will post $3.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Thursday, June 30th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.45%. The ex-dividend date is Tuesday, June 28th.
A number of large investors have added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Dow Chemical by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 70,516,634 shares of the company’s stock valued at $3,630,196,000 after buying an additional 1,273,303 shares during the period. Bank of Montreal Can boosted its stake in Dow Chemical by 40.1% in the fourth quarter. Bank of Montreal Can now owns 5,448,700 shares of the company’s stock valued at $280,499,000 after buying an additional 1,559,156 shares during the period. Levin Capital Strategies L.P. boosted its stake in Dow Chemical by 35.8% in the fourth quarter. Levin Capital Strategies L.P. now owns 5,313,392 shares of the company’s stock valued at $273,533,000 after buying an additional 1,400,529 shares during the period. Boston Partners acquired a new stake in Dow Chemical during the fourth quarter valued at $243,117,000. Finally, Westfield Capital Management Co. LP boosted its stake in Dow Chemical by 22.0% in the fourth quarter. Westfield Capital Management Co. LP now owns 3,837,548 shares of the company’s stock valued at $197,557,000 after buying an additional 692,045 shares during the period.
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