Dow Chemical Co. (DOW) Stock Price Down 1.6%
Shares of Dow Chemical Co. (NYSE:DOW) traded down 1.6% during trading on Wednesday . The company traded as low as $47.51 and last traded at $47.99, with a volume of 5,418,454 shares traded. The stock had previously closed at $48.76.
A number of analysts have recently commented on the stock. Credit Suisse Group AG reissued a “buy” rating on shares of Dow Chemical in a research note on Saturday, April 30th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Dow Chemical in a research note on Saturday, April 30th. Barclays PLC upped their price objective on shares of Dow Chemical from $50.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, May 2nd. Jefferies Group upped their price objective on shares of Dow Chemical from $54.00 to $58.00 and gave the company a “hold” rating in a research note on Monday, May 2nd. Finally, Credit Agricole SA cut shares of Dow Chemical from an “outperform” rating to an “underperform” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Dow Chemical has a consensus rating of “Hold” and an average price target of $55.58.
The firm has a market cap of $54.03 billion and a P/E ratio of 9.19. The stock has a 50 day moving average price of $51.82 and a 200-day moving average price of $49.80.
Dow Chemical (NYSE:DOW) last released its earnings results on Thursday, April 28th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. The company earned $10.70 billion during the quarter, compared to analysts’ expectations of $10.66 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Dow Chemical’s revenue for the quarter was down 13.5% compared to the same quarter last year. Equities research analysts predict that Dow Chemical Co. will post $3.51 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Thursday, June 30th will be issued a $0.46 dividend. The ex-dividend date is Tuesday, June 28th. This represents a $1.84 dividend on an annualized basis and a yield of 3.82%.
A number of large investors recently added to or reduced their stakes in DOW. Boston Partners bought a new stake in Dow Chemical during the fourth quarter worth about $243,117,000. Bank of Montreal Can increased its stake in Dow Chemical by 40.1% in the fourth quarter. Bank of Montreal Can now owns 5,448,700 shares of the company’s stock worth $280,499,000 after buying an additional 1,559,156 shares during the last quarter. Levin Capital Strategies L.P. increased its stake in Dow Chemical by 35.8% in the fourth quarter. Levin Capital Strategies L.P. now owns 5,313,392 shares of the company’s stock worth $273,533,000 after buying an additional 1,400,529 shares during the last quarter. Vanguard Group Inc. increased its stake in Dow Chemical by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 70,516,634 shares of the company’s stock worth $3,630,196,000 after buying an additional 1,273,303 shares during the last quarter. Finally, BHF Kleinwort Benson Group S.A. bought a new stake in Dow Chemical during the fourth quarter worth about $34,584,000.
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