Investors Buy Shares of Dow Chemical Co. (DOW) on Weakness
Traders bought shares of Dow Chemical Co. (NYSE:DOW) on weakness during trading hours on Tuesday. $58.77 million flowed into the stock on the tick-up and $41.41 million flowed out of the stock on the tick-down, for a money net flow of $17.36 million into the stock. Of all companies tracked, Dow Chemical had the 26th highest net in-flow for the day. Dow Chemical traded down ($0.14) for the day and closed at $53.99
A number of equities analysts have weighed in on DOW shares. Vetr downgraded Dow Chemical from a “hold” rating to a “sell” rating and set a $52.40 price target for the company. in a research report on Monday. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Dow Chemical in a research report on Thursday, June 2nd. JPMorgan Chase & Co. raised Dow Chemical from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $50.00 to $60.00 in a research report on Friday, July 29th. Nomura upped their price target on Dow Chemical from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Finally, Barclays PLC increased their price objective on Dow Chemical from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $57.34.
The stock has a 50 day moving average of $53.12 and a 200-day moving average of $51.59. The company has a market cap of $60.84 billion and a P/E ratio of 7.89.
Dow Chemical (NYSE:DOW) last announced its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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. The firm’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. On average, equities research analysts anticipate that Dow Chemical Co. will post $3.48 earnings per share for the current year.
Other hedge funds and institutional investors recently made changes to their positions in the company. Airain ltd bought a new position in shares of Dow Chemical during the fourth quarter valued at about $1,016,000. West Family Investments Inc. bought a new position in shares of Dow Chemical during the fourth quarter valued at about $2,574,000. Stephens Inc. AR boosted its position in shares of Dow Chemical by 1.4% in the fourth quarter. Stephens Inc. AR now owns 58,451 shares of the company’s stock valued at $3,009,000 after buying an additional 786 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Dow Chemical by 6.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,987,962 shares of the company’s stock valued at $205,301,000 after buying an additional 244,107 shares during the last quarter. Finally, American International Group Inc. boosted its position in shares of Dow Chemical by 1,315.3% in the fourth quarter. American International Group Inc. now owns 7,457,635 shares of the company’s stock valued at $383,918,000 after buying an additional 6,930,691 shares during the last quarter.
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