Foundry Partners LLC Grows Holdings in Dow Chemical Co (DOW)
Foundry Partners LLC grew its holdings in Dow Chemical Co (NYSE:DOW) by 14.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,730 shares of the basic materials company’s stock after purchasing an additional 39,080 shares during the quarter. Dow Chemical comprises approximately 0.8% of Foundry Partners LLC’s portfolio, making the stock its 13th largest holding. Foundry Partners LLC’s holdings in Dow Chemical were worth $19,219,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wexford Capital LP lifted its stake in Dow Chemical by 23.9% in the 1st quarter. Wexford Capital LP now owns 176,445 shares of the basic materials company’s stock worth $11,211,000 after purchasing an additional 34,058 shares in the last quarter. Personal Capital Advisors Corp raised its position in shares of Dow Chemical by 511.5% during the 2nd quarter. Personal Capital Advisors Corp now owns 65,488 shares of the basic materials company’s stock valued at $4,130,000 after buying an additional 54,779 shares during the period. Primecap Management Co. CA raised its position in shares of Dow Chemical by 12.2% during the 1st quarter. Primecap Management Co. CA now owns 2,157,075 shares of the basic materials company’s stock valued at $137,061,000 after buying an additional 234,375 shares during the period. Muhlenkamp & Co. Inc. purchased a new stake in shares of Dow Chemical during the 1st quarter valued at approximately $7,346,000. Finally, Sentry Investment Management LLC raised its position in shares of Dow Chemical by 5.5% during the 1st quarter. Sentry Investment Management LLC now owns 88,765 shares of the basic materials company’s stock valued at $5,640,000 after buying an additional 4,636 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of Dow Chemical Co (NYSE:DOW) opened at 66.65 on Friday. The stock has a market cap of $81.54 billion, a price-to-earnings ratio of 28.54 and a beta of 1.13. Dow Chemical Co has a 12 month low of $51.57 and a 12 month high of $67.50. 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 posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.07. The company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $13.60 billion. Dow Chemical had a net margin of 9.82% and a return on equity of 19.01%. Dow Chemical’s revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 earnings per share. Equities analysts expect that Dow Chemical Co will post $4.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, July 31st were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Thursday, July 27th. Dow Chemical’s dividend payout ratio is presently 76.99%.
DOW has been the topic of several analyst reports. Cowen and Company reaffirmed a “hold” rating and set a $60.00 price target on shares of Dow Chemical in a research report on Monday, August 28th. Alembic Global Advisors set a $85.00 price target on shares of Dow Chemical and gave the company a “buy” rating in a research report on Thursday, July 27th. BidaskClub raised shares of Dow Chemical from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $76.00 price target on shares of Dow Chemical in a research report on Thursday, July 6th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Dow Chemical in a research report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $72.02.
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