Nippon Life Global Investors Americas Inc. decreased its stake in shares of Dow Chemical Company (The) (NYSE:DOW) by 11.4% during the first quarter, Holdings Channel reports. The firm owned 200,470 shares of the basic materials company’s stock after selling 25,760 shares during the period. Dow Chemical Company (The) accounts for about 1.1% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 26th largest position. Nippon Life Global Investors Americas Inc.’s holdings in Dow Chemical Company (The) were worth $12,738,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Dow Chemical Company (The) by 7.6% in the first quarter. Vanguard Group Inc. now owns 81,191,459 shares of the basic materials company’s stock valued at $5,158,905,000 after buying an additional 5,722,128 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Dow Chemical Company (The) by 26.8% in the first quarter. Ameriprise Financial Inc. now owns 10,592,146 shares of the basic materials company’s stock valued at $674,160,000 after buying an additional 2,237,295 shares during the period. FMR LLC increased its stake in shares of Dow Chemical Company (The) by 11.8% in the first quarter. FMR LLC now owns 15,503,280 shares of the basic materials company’s stock valued at $985,078,000 after buying an additional 1,638,866 shares during the period. Investec Asset Management LTD increased its stake in shares of Dow Chemical Company (The) by 50.6% in the first quarter. Investec Asset Management LTD now owns 3,853,771 shares of the basic materials company’s stock valued at $244,869,000 after buying an additional 1,294,358 shares during the period. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Dow Chemical Company (The) during the first quarter valued at about $67,052,000. 68.79% of the stock is currently owned by institutional investors.

Dow Chemical Company (DOW) traded up 0.16% during midday trading on Friday, reaching $63.21. 1,112,470 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $64.63 and a 200 day moving average price of $63.02. Dow Chemical Company has a 52 week low of $51.57 and a 52 week high of $67.50. The company has a market cap of $77.33 billion, a price-to-earnings ratio of 27.07 and a beta of 1.13.

Dow Chemical Company (The) (NYSE:DOW) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.07. Dow Chemical Company (The) had a net margin of 5.83% and a return on equity of 17.08%. The company had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $13.60 billion. During the same period in the prior year, the company posted $0.95 earnings per share. Dow Chemical Company (The)’s revenue for the quarter was up 15.7% compared to the same quarter last year. Analysts anticipate that Dow Chemical Company will post $4.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, July 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 Thursday, July 27th. Dow Chemical Company (The)’s dividend payout ratio (DPR) is presently 76.99%.

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Several analysts have issued reports on DOW shares. Citigroup Inc. reissued a “hold” rating and set a $35.00 target price (down from $69.00) on shares of Dow Chemical Company (The) in a research note on Friday, April 14th. BidaskClub raised shares of Dow Chemical Company (The) from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 1st. Zacks Investment Research raised shares of Dow Chemical Company (The) from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Tuesday, April 18th. Barclays PLC upped their price target on shares of Dow Chemical Company (The) from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Monday, May 1st. Finally, Erste Group assumed coverage on shares of Dow Chemical Company (The) in a research note on Tuesday, April 25th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $71.42.

About Dow Chemical Company (The)

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

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