First American Trust FSB Maintains Holdings in Dow Chemical Co (DOW)
First American Trust FSB held its position in Dow Chemical Co (NYSE:DOW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,782 shares of the basic materials company’s stock at the close of the second quarter. First American Trust FSB’s holdings in Dow Chemical were worth $869,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Dow Chemical by 7.6% in the first quarter. Vanguard Group Inc. now owns 81,191,459 shares of the basic materials company’s stock valued at $5,158,905,000 after acquiring an additional 5,722,128 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Dow Chemical by 0.8% in the first quarter. Bank of New York Mellon Corp now owns 16,540,923 shares of the basic materials company’s stock valued at $1,051,010,000 after acquiring an additional 130,524 shares in the last quarter. FMR LLC boosted its stake in Dow Chemical by 11.8% in the first quarter. FMR LLC now owns 15,503,280 shares of the basic materials company’s stock valued at $985,078,000 after acquiring an additional 1,638,866 shares in the last quarter. Glenview Capital Management LLC boosted its stake in Dow Chemical by 34.8% in the first quarter. Glenview Capital Management LLC now owns 11,864,132 shares of the basic materials company’s stock valued at $753,847,000 after acquiring an additional 3,066,049 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Dow Chemical by 26.8% in the first quarter. Ameriprise Financial Inc. now owns 10,592,146 shares of the basic materials company’s stock valued at $674,160,000 after acquiring an additional 2,237,295 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.
Shares of Dow Chemical Co (NYSE DOW) remained flat at $66.65 during mid-day trading on Thursday. 43,802,070 shares of the stock traded hands. The firm has a 50-day moving average of $64.79 and a 200 day moving average of $63.46. The firm has a market capitalization of $81.54 billion, a price-to-earnings ratio of 28.54 and a beta of 1.13. Dow Chemical Co has a 52 week low of $51.57 and a 52 week high of $67.50.
Dow Chemical (NYSE:DOW) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.07. The business had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $13.60 billion. Dow Chemical had a net margin of 9.82% and a return on equity of 19.01%. The business’s revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 EPS. Equities research analysts anticipate that Dow Chemical Co will post $4.11 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, July 31st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.76%. Dow Chemical’s dividend payout ratio is presently 76.99%.
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Several equities research analysts have recently commented on DOW shares. BidaskClub upgraded shares of Dow Chemical from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Cowen and Company lifted their price objective on shares of Dow Chemical from $47.00 to $60.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 31st. Jefferies Group LLC reiterated a “buy” rating on shares of Dow Chemical in a research note on Tuesday, August 29th. Zacks Investment Research downgraded shares of Dow Chemical from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $78.00 price objective on shares of Dow Chemical in a research note on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $71.62.
About Dow Chemical
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