Intersect Capital LLC Takes Position in Dow Chemical Co (DOW)

Intersect Capital LLC purchased a new stake in shares of Dow Chemical Co (NYSE:DOW) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,361 shares of the basic materials company’s stock, valued at approximately $527,000.

A number of other hedge funds have also recently added to or reduced their stakes in DOW. Vanguard Group Inc. boosted its holdings in Dow Chemical by 7.6% during 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 during the period. Jana Partners LLC bought a new stake in Dow Chemical during the first quarter valued at about $225,688,000. Glenview Capital Management LLC boosted its holdings in Dow Chemical by 34.8% during 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 during the period. Ameriprise Financial Inc. boosted its holdings in Dow Chemical by 26.8% during 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 during the period. Finally, FMR LLC boosted its holdings in Dow Chemical by 11.8% during 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 during the period. Institutional investors own 67.77% of the company’s stock.

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Dow Chemical Co (DOW) opened at 66.65 on Friday. The stock’s 50 day moving average is $64.79 and its 200-day moving average is $63.46. The firm has a market cap 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.

Dow Chemical (NYSE:DOW) last announced its earnings results on Thursday, July 27th. The basic materials company reported $1.08 EPS for the quarter, topping the 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%. Dow Chemical’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. On average, analysts anticipate that Dow Chemical Co will post $4.11 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on the stock. BidaskClub upgraded shares of Dow Chemical from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Jefferies Group LLC restated a “buy” rating on shares of Dow Chemical in a report on Tuesday, August 29th. Zacks Investment Research cut shares of Dow Chemical from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Royal Bank Of Canada restated a “buy” rating and set a $78.00 price target on shares of Dow Chemical in a report on Wednesday, September 6th. Finally, Cowen and Company restated a “hold” rating and set a $60.00 price target on shares of Dow Chemical in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Dow Chemical has a consensus rating of “Buy” and an average price target of $72.02.

Dow Chemical Profile

Institutional Ownership by Quarter for Dow Chemical (NYSE:DOW)

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