Kimelman & Baird LLC Has $5.01 Million Position in Dow Chemical Co (DOW)
Kimelman & Baird LLC boosted its position in shares of Dow Chemical Co (NYSE:DOW) by 1.7% during the first quarter, Holdings Channel reports. The fund owned 78,847 shares of the basic materials company’s stock after buying an additional 1,308 shares during the period. Kimelman & Baird LLC’s holdings in Dow Chemical were worth $5,010,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of DOW. Pinnacle Bank purchased a new position in Dow Chemical during the first quarter worth about $103,000. First Financial Corp IN raised its position in Dow Chemical by 79.8% in the first quarter. First Financial Corp IN now owns 1,690 shares of the basic materials company’s stock worth $107,000 after buying an additional 750 shares during the last quarter. Ruggie Capital Group raised its position in Dow Chemical by 262.7% in the first quarter. Ruggie Capital Group now owns 2,637 shares of the basic materials company’s stock worth $168,000 after buying an additional 1,910 shares during the last quarter. Birch Hill Investment Advisors LLC purchased a new position in Dow Chemical during the first quarter worth about $197,000. Finally, Lyell Wealth Management LP purchased a new position in Dow Chemical during the first quarter worth about $200,000. 68.36% of the stock is owned by hedge funds and other institutional investors.
Dow Chemical Co (DOW) traded up 0.54% during mid-day trading on Monday, hitting $63.60. 741,320 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $64.62 and a 200 day moving average of $63.06. Dow Chemical Co has a 52 week low of $51.57 and a 52 week high of $67.50. The stock has a market capitalization of $77.81 billion, a P/E ratio of 27.24 and a beta of 1.13.
Dow Chemical (NYSE:DOW) last issued its earnings results 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 company had revenue of $13.83 billion for the quarter, compared to analyst estimates of $13.60 billion. Dow Chemical had a net margin of 9.82% and a return on equity of 19.01%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 EPS. Equities analysts forecast that Dow Chemical Co will post $4.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, July 31st will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Thursday, July 27th. Dow Chemical’s dividend payout ratio (DPR) is presently 76.99%.
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A number of research analysts have issued reports on the stock. UBS AG reissued a “buy” rating and set a $72.00 target price on shares of Dow Chemical in a research note on Monday, May 15th. BidaskClub lowered shares of Dow Chemical from a “sell” rating to a “strong sell” rating in a research note on Thursday. Credit Suisse Group set a $66.00 target price on shares of Dow Chemical and gave the company a “buy” rating in a research note on Sunday, April 30th. Alembic Global Advisors set a $85.00 target price on shares of Dow Chemical and gave the company a “buy” rating in a research note on Thursday, July 27th. Finally, Cowen and Company boosted their target price on shares of Dow Chemical from $47.00 to $60.00 and gave the company a “market perform” rating in a research note on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Dow Chemical currently has a consensus rating of “Buy” and a consensus price target of $71.42.
About Dow Chemical
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