Capstone Asset Management Co. Purchases 219,973 Shares of Dow Chemical Co. (DOW)
Capstone Asset Management Co. increased its position in Dow Chemical Co. (NYSE:DOW) by 262.2% during the third quarter, Holdings Channel reports. The fund owned 303,877 shares of the company’s stock after buying an additional 219,973 shares during the period. Capstone Asset Management Co.’s holdings in Dow Chemical were worth $15,750,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of DOW. DNB Asset Management AS raised its position in shares of Dow Chemical by 3.7% in the second quarter. DNB Asset Management AS now owns 100,968 shares of the company’s stock worth $5,019,000 after buying an additional 3,600 shares during the last quarter. Private Asset Management Inc. raised its position in shares of Dow Chemical by 42.5% in the second quarter. Private Asset Management Inc. now owns 16,931 shares of the company’s stock worth $842,000 after buying an additional 5,050 shares during the last quarter. NEXT Financial Group Inc raised its position in shares of Dow Chemical by 20.3% in the second quarter. NEXT Financial Group Inc now owns 7,353 shares of the company’s stock worth $365,000 after buying an additional 1,240 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of Dow Chemical by 6.1% in the second quarter. Raymond James Trust N.A. now owns 52,099 shares of the company’s stock worth $2,590,000 after buying an additional 2,981 shares during the last quarter. Finally, Baxter Bros Inc. purchased a new position in shares of Dow Chemical during the second quarter worth approximately $293,000. 67.89% of the stock is owned by institutional investors and hedge funds.
Dow Chemical Co. (NYSE:DOW) traded up 1.48% during mid-day trading on Wednesday, hitting $54.79. The company’s stock had a trading volume of 4,465,723 shares. The firm has a market cap of $61.44 billion, a price-to-earnings ratio of 8.54 and a beta of 1.20. The firm has a 50 day moving average of $53.69 and a 200-day moving average of $52.77. Dow Chemical Co. has a 52-week low of $40.26 and a 52-week high of $57.10.
Dow Chemical (NYSE:DOW) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.12. Dow Chemical had a return on equity of 17.81% and a net margin of 16.91%. The company earned $12.48 billion during the quarter, compared to analyst estimates of $12.01 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts expect that Dow Chemical Co. will post $3.65 EPS for the current fiscal year.
A number of brokerages have commented on DOW. Zacks Investment Research lowered Dow Chemical from a “buy” rating to a “hold” rating in a research report on Wednesday, November 2nd. RBC Capital Markets reiterated a “top pick” rating and issued a $68.00 price objective (up from $65.00) on shares of Dow Chemical in a research report on Friday, October 28th. Royal Bank Of Canada increased their price objective on Dow Chemical from $65.00 to $68.00 and gave the company a “top pick” rating in a research report on Friday, October 28th. Vetr upgraded Dow Chemical from a “sell” rating to a “buy” rating and set a $57.93 price target on the stock in a research report on Monday, October 24th. Finally, Citigroup Inc. upgraded Dow Chemical from a “neutral” rating to a “buy” rating and raised their price target for the stock from $55.00 to $59.00 in a research report on Monday, October 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $61.21.
About Dow Chemical
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