Pictet Asset Management Ltd. Buys 13,000 Shares of Dow Chemical Co (DOW)
Pictet Asset Management Ltd. raised its stake in Dow Chemical Co (NYSE:DOW) by 2.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 618,128 shares of the basic materials company’s stock after buying an additional 13,000 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.05% of Dow Chemical worth $38,299,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Dow Chemical by 7.6% during the first quarter. Vanguard Group Inc. now owns 81,191,459 shares of the basic materials company’s stock worth $5,158,905,000 after acquiring an additional 5,722,128 shares during the last quarter. Jana Partners LLC acquired a new stake in shares of Dow Chemical in the 1st quarter worth about $225,688,000. Glenview Capital Management LLC increased its holdings in shares of Dow Chemical by 34.8% in the 1st quarter. Glenview Capital Management LLC now owns 11,864,132 shares of the basic materials company’s stock worth $753,847,000 after acquiring an additional 3,066,049 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Dow Chemical by 26.8% in the 1st quarter. Ameriprise Financial Inc. now owns 10,592,146 shares of the basic materials company’s stock worth $674,160,000 after acquiring an additional 2,237,295 shares during the period. Finally, FMR LLC increased its holdings in shares of Dow Chemical by 11.8% in the 1st quarter. FMR LLC now owns 15,503,280 shares of the basic materials company’s stock worth $985,078,000 after acquiring an additional 1,638,866 shares during the period. Institutional investors own 67.77% of the company’s stock.
Shares of Dow Chemical Co (NYSE:DOW) opened at 66.65 on Wednesday. Dow Chemical Co has a 52-week low of $51.57 and a 52-week 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. The firm has a market capitalization of $81.54 billion, a P/E ratio of 28.54 and a beta of 1.13.
Dow Chemical (NYSE:DOW) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.07. The company had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $13.60 billion. Dow Chemical had a return on equity of 19.01% and a net margin of 9.82%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period last year, the firm earned $0.95 EPS. On average, equities research analysts anticipate that Dow Chemical Co will post $4.11 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, July 31st were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was 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. BidaskClub raised shares of Dow Chemical from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 1st. Cowen and Company restated a “hold” rating and issued a $60.00 price target on shares of Dow Chemical in a research note on Monday, August 28th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Dow Chemical in a report on Tuesday, August 29th. Zacks Investment Research cut Dow Chemical from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $78.00 price objective on shares of Dow Chemical in a research report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $71.62.
Dow Chemical Company Profile
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