Virginia Retirement Systems ET AL Acquires New Stake in Dow Chemical Co. (DOW)
Virginia Retirement Systems ET AL acquired a new stake in shares of Dow Chemical Co. (NYSE:DOW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 260,700 shares of the company’s stock, valued at approximately $12,959,000.
Other large investors also recently added to or reduced their stakes in the company. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Dow Chemical during the second quarter valued at approximately $111,000. Americafirst Capital Management LLC bought a new stake in Dow Chemical during the second quarter valued at approximately $112,000. Nelson Roberts Investment Advisors LLC increased its stake in Dow Chemical by 2.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 2,260 shares of the company’s stock valued at $112,000 after buying an additional 50 shares during the last quarter. Smith Asset Management Group LP increased its stake in Dow Chemical by 23.7% in the second quarter. Smith Asset Management Group LP now owns 2,350 shares of the company’s stock valued at $117,000 after buying an additional 450 shares during the last quarter. Finally, Cribstone Capital Management LLC bought a new stake in Dow Chemical during the second quarter valued at approximately $120,000. 67.62% of the stock is owned by institutional investors.
Dow Chemical Co. (NYSE:DOW) opened at 53.01 on Tuesday. The company has a market cap of $59.73 billion, a PE ratio of 7.74 and a beta of 1.52. Dow Chemical Co. has a 12 month low of $39.84 and a 12 month high of $57.10. The company has a 50 day moving average price of $53.37 and a 200-day moving average price of $52.07.
Dow Chemical (NYSE:DOW) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. Dow Chemical had a return on equity of 18.86% and a net margin of 18.31%. The company had revenue of $12 billion for the quarter, compared to analyst estimates of $11.24 billion. During the same period in the previous year, the company posted $0.91 EPS. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. Equities analysts predict that Dow Chemical Co. will post $3.53 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be paid a dividend of $0.46 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.47%. Dow Chemical’s payout ratio is 27.10%.
DOW has been the subject of several recent analyst reports. Nomura reissued a “buy” rating on shares of Dow Chemical in a report on Tuesday, July 12th. Credit Suisse Group AG reissued a “buy” rating on shares of Dow Chemical in a report on Monday, June 27th. Vetr raised Dow Chemical from a “hold” rating to a “buy” rating and set a $57.48 price objective for the company in a report on Monday, September 5th. Barclays PLC increased their price objective on Dow Chemical from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, July 29th. Finally, JPMorgan Chase & Co. downgraded Dow Chemical from an “overweight” rating to a “neutral” rating and cut their price target for the company from $57.00 to $50.00 in a report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. Dow Chemical has a consensus rating of “Buy” and an average price target of $59.46.
About Dow Chemical
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