Cullinan Associates Inc. Has $725,000 Holdings in Dow Chemical Co (DOW)
Cullinan Associates Inc. maintained its position in shares of Dow Chemical Co (NYSE:DOW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,500 shares of the basic materials company’s stock at the close of the 2nd quarter. Cullinan Associates Inc.’s holdings in Dow Chemical were worth $725,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Jennison Associates LLC lifted its position in Dow Chemical by 23.1% in the 1st quarter. Jennison Associates LLC now owns 2,487,443 shares of the basic materials company’s stock valued at $158,052,000 after acquiring an additional 467,320 shares in the last quarter. Wexford Capital LP lifted its position in Dow Chemical by 23.9% in the 1st quarter. Wexford Capital LP now owns 176,445 shares of the basic materials company’s stock valued at $11,211,000 after acquiring an additional 34,058 shares in the last quarter. Primecap Management Co. CA lifted its position in Dow Chemical by 12.2% in the 1st quarter. Primecap Management Co. CA now owns 2,157,075 shares of the basic materials company’s stock valued at $137,061,000 after acquiring an additional 234,375 shares in the last quarter. Muhlenkamp & Co. Inc. bought a new stake in Dow Chemical in the 1st quarter valued at $7,346,000. Finally, Sentry Investment Management LLC lifted its position in Dow Chemical by 5.5% in the 1st quarter. Sentry Investment Management LLC now owns 88,765 shares of the basic materials company’s stock valued at $5,640,000 after acquiring an additional 4,636 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.
Dow Chemical Co (NYSE:DOW) remained flat at $66.65 on Monday. The stock had a trading volume of 43,802,070 shares. The stock 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 12 month low of $51.57 and a 12 month high of $67.50. The firm’s 50 day moving average price is $64.79 and its 200 day moving average price is $63.46.
Dow Chemical (NYSE:DOW) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. Dow Chemical had a net margin of 9.82% and a return on equity of 19.01%. The company had revenue of $13.83 billion for the quarter, compared to analyst estimates of $13.60 billion. During the same period last year, the firm earned $0.95 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. On average, equities research analysts expect that Dow Chemical Co will post $4.11 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, July 31st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Thursday, July 27th. Dow Chemical’s payout ratio is currently 76.99%.
DOW has been the topic of several recent research reports. 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 target on shares of Dow Chemical from $47.00 to $60.00 and gave the company 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 lowered 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 issued a $78.00 price target on shares of Dow Chemical in a research note on Wednesday, September 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $71.62.
About Dow Chemical
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