Whittier Trust Co. of Nevada Inc. Reduces Position in Dow Chemical Co. (DOW)
Whittier Trust Co. of Nevada Inc. reduced its stake in shares of Dow Chemical Co. (NYSE:DOW) by 4.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,187 shares of the company’s stock after selling 1,198 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Dow Chemical were worth $1,351,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of DOW. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Dow Chemical during the second quarter valued at $111,000. Americafirst Capital Management LLC bought a new position in shares of Dow Chemical during the second quarter valued at about $112,000. Smith Asset Management Group LP boosted its position in shares of 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 period. Cribstone Capital Management LLC bought a new position in shares of Dow Chemical during the second quarter valued at about $120,000. Finally, Vigilant Capital Management LLC boosted its position in shares of Dow Chemical by 10.0% in the second quarter. Vigilant Capital Management LLC now owns 2,474 shares of the company’s stock valued at $123,000 after buying an additional 224 shares during the period. 67.52% of the stock is owned by institutional investors and hedge funds.
Shares of Dow Chemical Co. (NYSE:DOW) traded up 1.528% on Thursday, hitting $53.505. The company’s stock had a trading volume of 6,831,876 shares. The stock’s 50 day moving average is $53.05 and its 200-day moving average is $52.24. The company has a market cap of $60.29 billion, a price-to-earnings ratio of 7.817 and a beta of 1.40. Dow Chemical Co. has a 52 week low of $40.26 and a 52 week high of $57.10.
Dow Chemical (NYSE:DOW) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.09. The company had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.24 billion. Dow Chemical had a return on equity of 18.86% and a net margin of 18.31%. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share. On average, equities research analysts anticipate that Dow Chemical Co. will post $3.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.49%. Dow Chemical’s dividend payout ratio (DPR) is presently 27.10%.
Several brokerages recently issued reports on DOW. Credit Suisse Group AG restated a “buy” rating and issued a $61.00 price target on shares of Dow Chemical in a research report on Friday, July 29th. JPMorgan Chase & Co. cut Dow Chemical from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $57.00 to $50.00 in a research report on Tuesday, June 28th. Nomura reiterated a “buy” rating on shares of Dow Chemical in a research report on Tuesday, July 12th. Credit Agricole SA cut Dow Chemical from an “outperform” rating to an “underperform” rating in a research report on Wednesday, July 6th. Finally, Barclays PLC boosted their target price on Dow Chemical from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $60.10.
About Dow Chemical
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