Advisory Services Network LLC Acquires 234 Shares of Dow Chemical Co. (DOW)
Advisory Services Network LLC increased its stake in Dow Chemical Co. (NYSE:DOW) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,765 shares of the company’s stock after buying an additional 234 shares during the period. Advisory Services Network LLC’s holdings in Dow Chemical were worth $883,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. CG Asset Management LLC boosted its position in Dow Chemical by 447.2% in the second quarter. CG Asset Management LLC now owns 57,710 shares of the company’s stock valued at $2,869,000 after buying an additional 47,164 shares during the last quarter. First National Trust Co. boosted its position in Dow Chemical by 1.8% in the second quarter. First National Trust Co. now owns 47,745 shares of the company’s stock valued at $2,374,000 after buying an additional 833 shares during the last quarter. Benedict Financial Advisors Inc. boosted its position in Dow Chemical by 0.9% in the second quarter. Benedict Financial Advisors Inc. now owns 16,773 shares of the company’s stock valued at $831,000 after buying an additional 147 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in Dow Chemical during the second quarter valued at about $111,000. Finally, Chase Investment Counsel Corp boosted its position in Dow Chemical by 12.8% in the second quarter. Chase Investment Counsel Corp now owns 6,700 shares of the company’s stock valued at $333,000 after buying an additional 760 shares during the last quarter. 67.52% of the stock is owned by hedge funds and other institutional investors.
Shares of Dow Chemical Co. (NYSE:DOW) traded up 1.62% during mid-day trading on Wednesday, reaching $52.70. The company’s stock had a trading volume of 6,365,723 shares. The company has a market capitalization of $59.38 billion, a PE ratio of 7.70 and a beta of 1.40. The firm’s 50 day moving average is $53.05 and its 200-day moving average is $52.24. Dow Chemical Co. has a 52-week low of $40.26 and a 52-week high of $57.10.
Dow Chemical (NYSE:DOW) last posted its quarterly earnings data 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 company had revenue of $12 billion for the quarter, compared to the consensus estimate of $11.24 billion. During the same quarter in the previous year, the business earned $0.91 EPS. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. Analysts forecast that Dow Chemical Co. will post $3.53 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Wednesday, September 28th. Dow Chemical’s dividend payout ratio is presently 27.10%.
Several research analysts have issued reports on the company. Credit Suisse Group AG reiterated a “buy” rating and issued a $61.00 price objective on shares of Dow Chemical in a research report on Friday, July 29th. 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 research report on Monday, July 18th. Nomura reiterated a “buy” rating on shares of Dow Chemical in a research report on Tuesday, July 12th. RBC Capital Markets set a $65.00 price objective on Dow Chemical and gave the stock a “buy” rating in a research report on Tuesday, September 20th. Finally, JPMorgan Chase & Co. upgraded Dow Chemical from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $50.00 to $60.00 in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $60.10.
Dow Chemical Company Profile
Want to see what other hedge funds are holding DOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dow Chemical Co. (NYSE:DOW).
Receive News & Ratings for Dow Chemical Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dow Chemical Co. and related companies with MarketBeat.com's FREE daily email newsletter.