First National Trust Co. Acquires 833 Shares of Dow Chemical Co. (DOW)
First National Trust Co. increased its stake in shares of Dow Chemical Co. (NYSE:DOW) by 1.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 47,745 shares of the company’s stock after buying an additional 833 shares during the period. First National Trust Co.’s holdings in Dow Chemical were worth $2,374,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Edgar Lomax Co. VA boosted its position in Dow Chemical by 4.2% in the first quarter. Edgar Lomax Co. VA now owns 922,749 shares of the company’s stock valued at $46,931,000 after buying an additional 36,775 shares in the last quarter. Avalon Advisors LLC boosted its position in Dow Chemical by 4.7% in the first quarter. Avalon Advisors LLC now owns 491,973 shares of the company’s stock valued at $25,022,000 after buying an additional 22,098 shares in the last quarter. Legal & General Group Plc boosted its position in Dow Chemical by 3.5% in the first quarter. Legal & General Group Plc now owns 5,145,288 shares of the company’s stock valued at $261,704,000 after buying an additional 173,534 shares in the last quarter. PGGM Investments boosted its position in Dow Chemical by 2.5% in the second quarter. PGGM Investments now owns 784,601 shares of the company’s stock valued at $39,003,000 after buying an additional 18,878 shares in the last quarter. Finally, 1st Global Advisors Inc. bought a new position in Dow Chemical during the second quarter valued at about $388,000. Institutional investors and hedge funds own 67.52% of the company’s stock.
Shares of Dow Chemical Co. (NYSE:DOW) traded up 1.14% during midday trading on Monday, reaching $52.42. 7,016,640 shares of the company’s stock were exchanged. The stock has a market cap of $59.07 billion, a P/E ratio of 7.66 and a beta of 1.40. Dow Chemical Co. has a one year low of $40.26 and a one year high of $57.10. The company’s 50-day moving average is $53.06 and its 200-day moving average is $52.24.
Dow Chemical (NYSE:DOW) last released its earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.09. Dow Chemical had a return on equity of 18.86% and a net margin of 18.31%. The firm earned $12 billion during the quarter, compared to the consensus estimate of $11.24 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s revenue was down 7.4% compared to the same quarter last year. Equities analysts expect that Dow Chemical Co. will post $3.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Wednesday, September 28th. Dow Chemical’s dividend payout ratio (DPR) is 27.10%.
Several equities analysts have issued reports on DOW shares. Vetr cut shares of Dow Chemical from a “hold” rating to a “sell” rating and set a $52.40 target price on the stock. in a research note on Monday, August 29th. JPMorgan Chase & Co. upgraded shares of Dow Chemical from a “neutral” rating to an “overweight” rating and upped their target price for the company from $50.00 to $60.00 in a research note on Friday, July 29th. Nomura increased their price objective on shares of Dow Chemical from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Credit Suisse Group AG reiterated a “buy” rating on shares of Dow Chemical in a research note on Monday, June 27th. Finally, RBC Capital Markets set a $65.00 price objective on shares of Dow Chemical and gave the stock a “buy” rating in a research note on Tuesday, September 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. Dow Chemical has a consensus rating of “Buy” and a consensus target price of $60.10.
About Dow Chemical
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