Dow Chemical Co (DOW) Position Reduced by Opus Investment Management Inc.
Opus Investment Management Inc. reduced its holdings in shares of Dow Chemical Co (NYSE:DOW) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,000 shares of the basic materials company’s stock after selling 11,000 shares during the quarter. Dow Chemical makes up about 1.0% of Opus Investment Management Inc.’s holdings, making the stock its 22nd largest position. Opus Investment Management Inc.’s holdings in Dow Chemical were worth $5,802,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. First Command Bank lifted its holdings in Dow Chemical by 36.9% during the second quarter. First Command Bank now owns 1,617 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 436 shares during the period. Perkins Coie Trust Co lifted its holdings in Dow Chemical by 33.7% during the second quarter. Perkins Coie Trust Co now owns 1,906 shares of the basic materials company’s stock worth $120,000 after acquiring an additional 480 shares during the period. Financial Architects Inc lifted its holdings in Dow Chemical by 0.4% during the second quarter. Financial Architects Inc now owns 2,290 shares of the basic materials company’s stock worth $144,000 after acquiring an additional 10 shares during the period. MCF Advisors LLC lifted its holdings in Dow Chemical by 49.3% during the second quarter. MCF Advisors LLC now owns 2,331 shares of the basic materials company’s stock worth $147,000 after acquiring an additional 770 shares during the period. Finally, Ruggie Capital Group lifted its holdings in Dow Chemical by 262.7% during the first quarter. Ruggie Capital Group now owns 2,637 shares of the basic materials company’s stock worth $168,000 after acquiring an additional 1,910 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.
A number of analysts recently commented on DOW shares. BidaskClub upgraded Dow Chemical from a “strong sell” rating to a “sell” rating in a report on Thursday, August 17th. Alembic Global Advisors set a $85.00 price target on Dow Chemical and gave the stock a “buy” rating in a report on Thursday, July 27th. Cowen and Company reiterated a “hold” rating and set a $60.00 price target on shares of Dow Chemical in a report on Monday, August 28th. Royal Bank Of Canada reiterated a “buy” rating and set a $76.00 price target on shares of Dow Chemical in a report on Thursday, July 6th. Finally, Zacks Investment Research lowered Dow Chemical from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $71.62.
Shares of Dow Chemical Co (DOW) opened at 66.65 on Monday. Dow Chemical Co has a 52 week low of $51.57 and a 52 week high of $67.50. The company has a market capitalization of $81.54 billion, a price-to-earnings ratio of 28.54 and a beta of 1.13. The firm has a 50 day moving average price of $64.79 and a 200 day moving average price of $63.46.
Dow Chemical (NYSE:DOW) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.07. The firm had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $13.60 billion. Dow Chemical had a return on equity of 19.01% and a net margin of 9.82%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 EPS. Equities analysts forecast that Dow Chemical Co will post $4.11 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, July 31st will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.84 annualized dividend and a dividend yield of 2.76%. Dow Chemical’s payout ratio is 76.99%.
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Dow Chemical Profile
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