Dow Chemical Co. (DOW) Shares Sold by First Mercantile Trust Co.
First Mercantile Trust Co. decreased its stake in Dow Chemical Co. (NYSE:DOW) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,100 shares of the company’s stock after selling 800 shares during the period. First Mercantile Trust Co.’s holdings in Dow Chemical were worth $1,347,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the company. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of Dow Chemical during the second quarter valued at about $111,000. Americafirst Capital Management LLC purchased a new stake in shares of Dow Chemical during the second quarter valued at about $112,000. Nelson Roberts Investment Advisors LLC raised its stake in shares of Dow Chemical by 2.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 2,260 shares of the company’s stock valued at $112,000 after buying an additional 50 shares during the period. Smith Asset Management Group LP raised its stake in shares of Dow Chemical by 23.7% in the second quarter. Smith Asset Management Group LP now owns 2,350 shares of the company’s stock valued at $117,000 after buying an additional 450 shares during the period. Finally, Cribstone Capital Management LLC purchased a new stake in shares of Dow Chemical during the second quarter valued at about $120,000. 67.62% of the stock is owned by hedge funds and other institutional investors.
Dow Chemical Co. (NYSE:DOW) opened at 53.01 on Tuesday. The company has a market cap of $59.73 billion, a P/E ratio of 7.74 and a beta of 1.52. Dow Chemical Co. has a one year low of $39.84 and a one year high of $57.10. The company has a 50 day moving average of $53.37 and a 200-day moving average of $52.07.
Dow Chemical (NYSE:DOW) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.09. Dow Chemical had a net margin of 18.31% and a return on equity of 18.86%. The company earned $12 billion during the quarter, compared to analysts’ expectations of $11.24 billion. During the same quarter in the prior year, the company earned $0.91 EPS. Dow Chemical’s revenue was down 7.4% compared to the same quarter last year. On average, equities analysts expect that Dow Chemical Co. will post $3.53 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be paid a dividend of $0.46 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.84 annualized dividend and a yield of 3.47%. Dow Chemical’s dividend payout ratio is presently 27.10%.
Several equities research analysts have issued reports on DOW shares. Nomura reaffirmed a “buy” rating on shares of Dow Chemical in a research note on Tuesday, July 12th. Credit Suisse Group AG reissued a “buy” rating on shares of Dow Chemical in a research note on Monday, June 27th. Vetr raised Dow Chemical from a “hold” rating to a “buy” rating and set a $57.48 target price for the company in a research note on Monday, September 5th. Barclays PLC boosted their target price on Dow Chemical from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, July 29th. Finally, JPMorgan Chase & Co. lowered Dow Chemical from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $57.00 to $50.00 in a research note on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $59.46.
About Dow Chemical
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