Jana Partners LLC purchased a new stake in shares of Dow Chemical Company (The) (NYSE:DOW) during the first quarter, Holdings Channel reports. The firm purchased 3,551,908 shares of the basic materials company’s stock, valued at approximately $225,688,000. Dow Chemical Company (The) accounts for approximately 4.2% of Jana Partners LLC’s portfolio, making the stock its 7th largest position.

Several other hedge funds have also bought and sold shares of the stock. Jennison Associates LLC raised its stake in Dow Chemical Company (The) by 23.1% in the first quarter. Jennison Associates LLC now owns 2,487,443 shares of the basic materials company’s stock worth $158,052,000 after buying an additional 467,320 shares during the period. Bremer Trust National Association raised its stake in Dow Chemical Company (The) by 4.9% in the first quarter. Bremer Trust National Association now owns 21,010 shares of the basic materials company’s stock worth $1,335,000 after buying an additional 983 shares during the period. Grassi Investment Management raised its stake in Dow Chemical Company (The) by 0.4% in the first quarter. Grassi Investment Management now owns 114,251 shares of the basic materials company’s stock worth $7,260,000 after buying an additional 401 shares during the period. Boston Advisors LLC raised its stake in Dow Chemical Company (The) by 0.6% in the first quarter. Boston Advisors LLC now owns 137,814 shares of the basic materials company’s stock worth $8,757,000 after buying an additional 804 shares during the period. Finally, Bollard Group LLC raised its stake in Dow Chemical Company (The) by 8.8% in the first quarter. Bollard Group LLC now owns 89,528 shares of the basic materials company’s stock worth $5,689,000 after buying an additional 7,213 shares during the period. 68.79% of the stock is currently owned by institutional investors.

Dow Chemical Company (NYSE DOW) traded up 0.24% during trading on Friday, reaching $63.26. 4,990,267 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $64.62 and its 200-day moving average is $63.06. The company has a market cap of $77.40 billion, a P/E ratio of 27.09 and a beta of 1.13. Dow Chemical Company has a 12-month low of $51.57 and a 12-month high of $67.50.

Dow Chemical Company (The) (NYSE:DOW) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.08 earnings per share (EPS) 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 Company (The) had a net margin of 5.83% and a return on equity of 17.08%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 earnings per share. Analysts predict that Dow Chemical Company will post $4.08 EPS for the current fiscal year.

The business 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 2.91%. The ex-dividend date of this dividend is Thursday, July 27th. Dow Chemical Company (The)’s payout ratio is currently 76.99%.

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A number of analysts recently weighed in on DOW shares. Citigroup Inc. reaffirmed a “hold” rating and set a $35.00 target price (down previously from $69.00) on shares of Dow Chemical Company (The) in a report on Friday, April 14th. BidaskClub raised shares of Dow Chemical Company (The) from a “strong sell” rating to a “sell” rating in a report 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 target price on the stock in a report on Tuesday, April 18th. Barclays PLC upped their target price on shares of Dow Chemical Company (The) from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. Finally, Erste Group started coverage on shares of Dow Chemical Company (The) in a report on Tuesday, April 25th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Dow Chemical Company (The) currently has a consensus rating of “Buy” and a consensus price target of $71.42.

Dow Chemical Company (The) Company Profile

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

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