Victory Capital Management Inc. raised its stake in Dow Chemical Co. (NYSE:DOW) by 16.2% during the second quarter, Holdings Channel reports. The firm owned 58,268 shares of the company’s stock after buying an additional 8,102 shares during the period. Victory Capital Management Inc.’s holdings in Dow Chemical were worth $2,897,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of DOW. Heritage Investors Management Corp increased its position in Dow Chemical by 0.6% in the first quarter. Heritage Investors Management Corp now owns 73,696 shares of the company’s stock valued at $3,748,000 after buying an additional 470 shares during the period. Exchange Capital Management Inc. increased its position in Dow Chemical by 1.1% in the first quarter. Exchange Capital Management Inc. now owns 4,983 shares of the company’s stock valued at $253,000 after buying an additional 54 shares during the period. Daiwa SB Investments Ltd. increased its position in Dow Chemical by 20.8% in the first quarter. Daiwa SB Investments Ltd. now owns 183,910 shares of the company’s stock valued at $9,354,000 after buying an additional 31,610 shares during the period. Exxonmobil Investment Management Inc. TX increased its position in Dow Chemical by 7.9% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 271,990 shares of the company’s stock valued at $13,833,000 after buying an additional 19,939 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Dow Chemical by 15.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 257,042 shares of the company’s stock valued at $13,073,000 after buying an additional 33,751 shares during the period. 67.62% of the stock is currently owned by hedge funds and other institutional investors.

Dow Chemical Co. (NYSE:DOW) opened at 52.72 on Friday. The company has a market cap of $59.41 billion, a PE ratio of 7.70 and a beta of 1.52. Dow Chemical Co. has a 52 week low of $39.84 and a 52 week high of $57.10. The company has a 50-day moving average of $53.47 and a 200-day moving average of $51.98.

Dow Chemical (NYSE:DOW) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.09. The company earned $12 billion during 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%. Dow Chemical’s revenue was down 7.4% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. On average, equities analysts expect that Dow Chemical Co. will post $3.53 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be given a $0.46 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.84 dividend on an annualized basis and a yield of 3.49%. Dow Chemical’s dividend payout ratio is presently 27.10%.

DOW has been the topic of several analyst reports. Vetr raised shares of Dow Chemical from a “hold” rating to a “buy” rating and set a $57.48 target price on the stock in a research note on Monday, September 5th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $61.00 target price on shares of Dow Chemical in a research note on Friday, July 29th. Nomura lifted their target price on shares of Dow Chemical from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Barclays PLC lifted their target price on shares of Dow Chemical from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Friday, July 29th. Finally, JPMorgan Chase & Co. raised shares of Dow Chemical from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $50.00 to $60.00 in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $59.46.

About Dow Chemical

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