State of New Jersey Common Pension Fund D decreased its stake in shares of Dow Chemical Co (NYSE:DOW) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,200,000 shares of the basic materials company’s stock after selling 50,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.10% of Dow Chemical worth $75,684,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in DOW. Vanguard Group Inc. boosted its position in shares of Dow Chemical by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 81,191,459 shares of the basic materials company’s stock valued at $5,158,905,000 after purchasing an additional 5,722,128 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Dow Chemical by 0.8% during the 1st quarter. Bank of New York Mellon Corp now owns 16,540,923 shares of the basic materials company’s stock valued at $1,051,010,000 after purchasing an additional 130,524 shares in the last quarter. FMR LLC boosted its position in shares of Dow Chemical by 11.8% during the 1st quarter. FMR LLC now owns 15,503,280 shares of the basic materials company’s stock valued at $985,078,000 after purchasing an additional 1,638,866 shares in the last quarter. Glenview Capital Management LLC boosted its position in shares of Dow Chemical by 34.8% during the 1st quarter. Glenview Capital Management LLC now owns 11,864,132 shares of the basic materials company’s stock valued at $753,847,000 after purchasing an additional 3,066,049 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Dow Chemical by 26.8% during the 1st quarter. Ameriprise Financial Inc. now owns 10,592,146 shares of the basic materials company’s stock valued at $674,160,000 after purchasing an additional 2,237,295 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Dow Chemical Co (NYSE:DOW) opened at 66.65 on Friday. The stock has a market capitalization of $81.54 billion, a price-to-earnings ratio of 28.54 and a beta of 1.13. Dow Chemical Co has a 52-week low of $51.57 and a 52-week high of $67.50. The stock has a 50 day moving average of $64.79 and a 200-day moving average of $63.46.

Dow Chemical (NYSE:DOW) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.07. Dow Chemical had a return on equity of 19.01% and a net margin of 9.82%. The business had revenue of $13.83 billion during the quarter, compared to analyst estimates of $13.60 billion. During the same period in the previous year, the firm earned $0.95 EPS. Dow Chemical’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts predict that Dow Chemical Co will post $4.11 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, July 31st will be given a $0.46 dividend. The ex-dividend date is Thursday, July 27th. This represents a $1.84 annualized dividend and a dividend yield of 2.76%. Dow Chemical’s dividend payout ratio is presently 76.99%.

Several research firms have recently weighed in on DOW. BidaskClub upgraded shares of Dow Chemical from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Cowen and Company raised their price objective on shares of Dow Chemical from $47.00 to $60.00 and gave the company a “market perform” rating in a research report on Wednesday, May 31st. Jefferies Group LLC restated a “buy” rating on shares of Dow Chemical in a research report on Tuesday, August 29th. Zacks Investment Research lowered shares of Dow Chemical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $78.00 price objective on shares of Dow Chemical in a research report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $71.62.

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Dow Chemical Company Profile

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

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