Traders 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. $62.74 million flowed into the stock on the tick-up and $29.63 million flowed out of the stock on the tick-down, for a money net flow of $33.11 million into the stock. Of all companies tracked, Dow Chemical had the 16th highest net in-flow for the day. Dow Chemical traded down ($0.44) for the day and closed at $52.57
A number of equities analysts have commented on DOW shares. Credit Suisse Group AG restated a “buy” rating on shares of Dow Chemical in a research note on Thursday, June 2nd. JPMorgan Chase & Co. lowered Dow Chemical from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $57.00 to $50.00 in a research note on Tuesday, June 28th. Vetr lowered Dow Chemical from a “buy” rating to a “sell” rating and set a $46.12 price objective on the stock. in a research note on Monday, July 4th. Credit Agricole SA lowered Dow Chemical from an “outperform” rating to an “underperform” rating in a research note on Wednesday, July 6th. Finally, Nomura restated a “buy” rating on shares of Dow Chemical in a research note on Tuesday, July 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $59.46.
The company has a market cap of $59.24 billion, a PE ratio of 7.68 and a beta of 1.52. The company has a 50-day moving average of $53.34 and a 200 day moving average of $52.09.
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Dow Chemical (NYSE:DOW) last posted its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.09. The firm had revenue of $12 billion for the quarter, compared to the consensus estimate of $11.24 billion. Dow Chemical had a return on equity of 18.86% and a net margin of 18.31%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. On average, analysts anticipate that Dow Chemical Co. will post $3.53 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.84 annualized dividend and a dividend yield of 3.50%. Dow Chemical’s dividend payout ratio is currently 27.10%.
Several large investors have recently bought and sold shares of the company. Evercore Wealth Management LLC increased its stake in Dow Chemical by 1.4% in the second quarter. Evercore Wealth Management LLC now owns 37,292 shares of the company’s stock valued at $1,853,000 after buying an additional 521 shares in the last quarter. Williams Jones & Associates LLC boosted its position in Dow Chemical by 15.2% in the second quarter. Williams Jones & Associates LLC now owns 123,498 shares of the company’s stock valued at $6,139,000 after buying an additional 16,323 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Dow Chemical during the second quarter valued at $2,254,000. Kentucky Retirement Systems purchased a new position in Dow Chemical during the second quarter valued at $4,746,000. Finally, Northwestern Mutual Investment Management Company LLC boosted its position in Dow Chemical by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 42,836 shares of the company’s stock valued at $2,129,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 67.62% of the company’s stock.
Dow Chemical Company Profile
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