Traders Sell Shares of Dow Chemical Co. (DOW) on Strength (DOW)
Traders sold shares of Dow Chemical Co. (NYSE:DOW) on strength during trading hours on Friday. $27.16 million flowed into the stock on the tick-up and $43.10 million flowed out of the stock on the tick-down, for a money net flow of $15.94 million out of the stock. Of all stocks tracked, Dow Chemical had the 0th highest net out-flow for the day. Dow Chemical traded up $0.62 for the day and closed at $53.12
A number of research firms have commented on DOW. Barclays PLC raised their target price on Dow Chemical from $50.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, May 2nd. Royal Bank Of Canada restated a “buy” rating on shares of Dow Chemical in a research report on Saturday, April 30th. Credit Suisse Group AG restated a “buy” rating on shares of Dow Chemical in a research report on Saturday, April 30th. Vetr cut Dow Chemical from a “buy” rating to a “hold” rating and set a $51.75 price target for the company. in a research report on Monday, May 23rd. Finally, Zacks Investment Research cut Dow Chemical from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. Dow Chemical has a consensus rating of “Hold” and a consensus price target of $55.58.
The firm has a market capitalization of $59.64 billion and a P/E ratio of 10.14. The company’s 50 day moving average is $51.68 and its 200-day moving average is $49.82.
Dow Chemical (NYSE:DOW) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.06. The firm earned $10.70 billion during the quarter, compared to analyst estimates of $10.66 billion. The company’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS. On average, equities analysts forecast that Dow Chemical Co. will post $3.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders 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 annualized dividend and a dividend yield of 3.46%.
Several hedge funds have recently made changes to their positions in DOW. Vanguard Group Inc. raised its stake in shares of Dow Chemical by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 70,516,634 shares of the company’s stock valued at $3,630,196,000 after buying an additional 1,273,303 shares during the period. Bank of Montreal Can raised its stake in shares of Dow Chemical by 40.1% in the fourth quarter. Bank of Montreal Can now owns 5,448,700 shares of the company’s stock valued at $280,499,000 after buying an additional 1,559,156 shares during the period. Levin Capital Strategies L.P. raised its stake in shares of 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 valued at $273,533,000 after buying an additional 1,400,529 shares during the period. Boston Partners purchased a new stake in shares of Dow Chemical during the fourth quarter valued at $243,117,000. Finally, Westfield Capital Management Co. LP raised its stake in shares of Dow Chemical by 22.0% in the fourth quarter. Westfield Capital Management Co. LP now owns 3,837,548 shares of the company’s stock valued at $197,557,000 after buying an additional 692,045 shares during the period.
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