Muhlenkamp & Co. Inc. purchased a new stake in Dow Chemical Company (The) (NYSE:DOW) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 115,615 shares of the basic materials company’s stock, valued at approximately $7,346,000. Dow Chemical Company (The) accounts for 2.3% of Muhlenkamp & Co. Inc.’s portfolio, making the stock its 20th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of The West raised its position in Dow Chemical Company (The) by 3.7% in the first quarter. Bank of The West now owns 66,403 shares of the basic materials company’s stock valued at $4,219,000 after buying an additional 2,389 shares during the last quarter. Patten & Patten Inc. TN raised its position in Dow Chemical Company (The) by 1.0% in the first quarter. Patten & Patten Inc. TN now owns 97,217 shares of the basic materials company’s stock valued at $6,177,000 after buying an additional 915 shares during the last quarter. Boston Advisors LLC raised its position 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 valued at $8,757,000 after buying an additional 804 shares during the last quarter. Barometer Capital Management Inc. raised its position in Dow Chemical Company (The) by 47.2% in the first quarter. Barometer Capital Management Inc. now owns 415,100 shares of the basic materials company’s stock valued at $26,375,000 after buying an additional 133,100 shares during the last quarter. Finally, Hartford Financial Management Inc. raised its position in Dow Chemical Company (The) by 1.0% in the first quarter. Hartford Financial Management Inc. now owns 10,332 shares of the basic materials company’s stock valued at $656,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Dow Chemical Company (DOW) traded down 0.09% during mid-day trading on Monday, hitting $64.48. 1,043,246 shares of the stock traded hands. The company has a 50-day moving average of $64.75 and a 200 day moving average of $63.33. Dow Chemical Company has a 1-year low of $51.57 and a 1-year high of $67.50. The firm has a market capitalization of $78.89 billion, a P/E ratio of 27.61 and a beta of 1.13.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, July 31st will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Thursday, July 27th. Dow Chemical Company (The)’s payout ratio is 76.99%.

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Several research analysts have issued reports on DOW shares. Barclays PLC raised 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 report on Monday, May 1st. Citigroup Inc. raised their price target on shares of Dow Chemical Company (The) from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Credit Suisse Group set a $66.00 price target on shares of Dow Chemical Company (The) and gave the stock a “buy” rating in a report on Sunday, April 30th. UBS AG restated a “buy” rating and set a $72.00 price target on shares of Dow Chemical Company (The) in a report on Monday, May 15th. Finally, Cowen and Company raised their price target on shares of Dow Chemical Company (The) from $47.00 to $60.00 and gave the stock a “market perform” rating in a report on Wednesday, May 31st. 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 assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $71.42.

Dow Chemical Company (The) Company Profile

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

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