L & S Advisors Inc bought a new position in shares of Dow Chemical Co (NYSE:DOW) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,352 shares of the company’s stock, valued at approximately $421,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Viking Global Investors LP bought a new stake in shares of Dow Chemical during the fourth quarter worth about $1,124,481,000. Glenview Capital Management LLC bought a new stake in shares of Dow Chemical during the fourth quarter worth about $503,426,000. Franklin Resources Inc. increased its stake in shares of Dow Chemical by 17.8% in the fourth quarter. Franklin Resources Inc. now owns 28,544,097 shares of the company’s stock worth $1,633,293,000 after buying an additional 4,313,967 shares in the last quarter. State Street Corp increased its stake in shares of Dow Chemical by 5.7% in the fourth quarter. State Street Corp now owns 49,143,602 shares of the company’s stock worth $2,811,994,000 after buying an additional 2,655,523 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Dow Chemical during the fourth quarter worth about $136,168,000. Hedge funds and other institutional investors own 69.38% of the company’s stock.
Shares of Dow Chemical Co (NYSE:DOW) opened at 63.08 on Friday. Dow Chemical Co has a 52-week low of $47.51 and a 52-week high of $64.73. The stock’s 50 day moving average price is $62.57 and its 200 day moving average price is $57.17. The company has a market capitalization of $76.54 billion, a P/E ratio of 17.92 and a beta of 1.12.
Dow Chemical (NYSE:DOW) last issued its quarterly earnings results on Thursday, January 26th. The company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.11. Dow Chemical had a return on equity of 16.85% and a net margin of 8.97%. The firm earned $13 billion during the quarter, compared to analysts’ expectations of $12.36 billion. During the same period in the previous year, the business earned $0.93 earnings per share. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, equities research analysts forecast that Dow Chemical Co will post $4.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, March 29th. Dow Chemical’s payout ratio is 54.76%.
A number of analysts recently issued reports on DOW shares. Vetr downgraded Dow Chemical from a “buy” rating to a “hold” rating and set a $57.93 price target for the company. in a research report on Wednesday, November 30th. Royal Bank of Canada raised their price target on Dow Chemical from $68.00 to $72.00 and gave the stock a “top pick” rating in a research report on Monday, December 19th. Sanford C. Bernstein restated an “overweight” rating on shares of Dow Chemical in a research report on Friday, December 23rd. Zacks Investment Research upgraded Dow Chemical from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Friday, December 30th. Finally, Credit Suisse Group AG set a $66.00 price target on Dow Chemical and gave the stock a “buy” rating in a research report on Friday, January 27th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Dow Chemical currently has an average rating of “Buy” and a consensus target price of $68.02.
About Dow Chemical
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