Bank of Nova Scotia boosted its stake in shares of Dow Chemical Co (NYSE:DOW) by 462.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 256,569 shares of the basic materials company’s stock after purchasing an additional 210,914 shares during the period. Bank of Nova Scotia’s holdings in Dow Chemical were worth $16,303,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ruggie Capital Group lifted its position in Dow Chemical by 262.7% during the first quarter. Ruggie Capital Group now owns 2,637 shares of the basic materials company’s stock valued at $168,000 after purchasing an additional 1,910 shares in the last quarter. Birch Hill Investment Advisors LLC purchased a new position in Dow Chemical during the first quarter valued at $197,000. Lyell Wealth Management LP purchased a new position in Dow Chemical during the first quarter valued at $200,000. Nichols & Pratt Advisers LLP MA purchased a new position in Dow Chemical during the first quarter valued at $202,000. Finally, Cedar Capital LLC purchased a new position in Dow Chemical during the first quarter valued at $205,000. Institutional investors own 67.77% of the company’s stock.
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Several research firms recently weighed in on DOW. Royal Bank Of Canada reiterated a “buy” rating and set a $78.00 target price on shares of Dow Chemical in a research report on Wednesday, September 6th. Jefferies Group LLC reiterated a “buy” rating on shares of Dow Chemical in a research report on Tuesday, August 29th. Cowen and Company reiterated a “hold” rating and set a $60.00 target price on shares of Dow Chemical in a research report on Monday, August 28th. BidaskClub upgraded Dow Chemical from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Finally, Alembic Global Advisors set a $85.00 target price on Dow Chemical and gave the company a “buy” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $71.62.
Shares of Dow Chemical Co (NYSE DOW) remained flat at $66.65 during midday trading on Wednesday. The stock had a trading volume of 43,802,070 shares. Dow Chemical Co has a 52-week low of $51.57 and a 52-week high of $67.50. The stock has a 50-day moving average price of $64.79 and a 200 day moving average price of $63.46. The stock has a market cap of $81.54 billion, a PE ratio of 28.54 and a beta of 1.13.
Dow Chemical (NYSE:DOW) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.07. The firm 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%. Dow Chemical’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period last year, the company posted $0.95 EPS. Equities research analysts predict that Dow Chemical Co will post $4.11 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, July 31st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Thursday, July 27th. Dow Chemical’s dividend payout ratio is presently 76.99%.
Dow Chemical Profile
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