Outfitter Advisors LTD. continued to hold its stake in Dow Chemical Co (NYSE:DOW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,530 shares of the basic materials company’s stock at the end of the second quarter. Outfitter Advisors LTD.’s holdings in Dow Chemical were worth $538,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wexford Capital LP raised its stake in Dow Chemical by 23.9% during the first quarter. Wexford Capital LP now owns 176,445 shares of the basic materials company’s stock worth $11,211,000 after buying an additional 34,058 shares during the last quarter. Personal Capital Advisors Corp raised its stake in Dow Chemical by 511.5% during the second quarter. Personal Capital Advisors Corp now owns 65,488 shares of the basic materials company’s stock worth $4,130,000 after buying an additional 54,779 shares during the last quarter. Primecap Management Co. CA raised its stake in Dow Chemical by 12.2% during the first quarter. Primecap Management Co. CA now owns 2,157,075 shares of the basic materials company’s stock worth $137,061,000 after buying an additional 234,375 shares during the last quarter. Muhlenkamp & Co. Inc. bought a new position in Dow Chemical during the first quarter worth $7,346,000. Finally, Sentry Investment Management LLC raised its stake in Dow Chemical by 5.5% during the first quarter. Sentry Investment Management LLC now owns 88,765 shares of the basic materials company’s stock worth $5,640,000 after buying an additional 4,636 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.
Shares of Dow Chemical Co (DOW) opened at 66.65 on Wednesday. The company has a market capitalization of $81.54 billion, a P/E ratio of 28.54 and a beta of 1.13. Dow Chemical Co has a 1-year low of $51.57 and a 1-year high of $67.50. The firm has a 50-day moving average of $64.79 and a 200 day moving average of $63.46.
Dow Chemical (NYSE:DOW) last posted its earnings results on Thursday, July 27th. The basic materials company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.07. Dow Chemical had a net margin of 9.82% and a return on equity of 19.01%. The firm had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $13.60 billion. During the same period last year, the company posted $0.95 EPS. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts expect that Dow Chemical Co will post $4.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, July 31st were given a $0.46 dividend. The ex-dividend date was Thursday, July 27th. This represents a $1.84 annualized dividend and a dividend yield of 2.76%. Dow Chemical’s dividend payout ratio is 76.99%.
DOW has been the subject of several research analyst reports. BidaskClub raised shares of Dow Chemical from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 17th. Alembic Global Advisors set a $85.00 price target on shares of Dow Chemical and gave the company a “buy” rating in a research note on Thursday, July 27th. Cowen and Company reaffirmed a “hold” rating and issued a $60.00 price target on shares of Dow Chemical in a research note on Monday, August 28th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $76.00 price target on shares of Dow Chemical in a research note on Thursday, July 6th. Finally, Zacks Investment Research downgraded shares of Dow Chemical from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Dow Chemical has an average rating of “Buy” and a consensus price target of $72.02.
About Dow Chemical
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