Short Interest in Dow Chemical Co. (DOW) Expands By 25.2%
Dow Chemical Co. (NYSE:DOW) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 45,049,902 shares, a growth of 25.2% from the October 14th total of 35,977,054 shares. Based on an average daily volume of 6,392,859 shares, the short-interest ratio is currently 7.0 days. Currently, 4.0% of the company’s shares are sold short.
Shares of Dow Chemical (NYSE:DOW) opened at 53.23 on Friday. The company’s 50-day moving average price is $53.45 and its 200-day moving average price is $52.63. The company has a market capitalization of $59.69 billion, a price-to-earnings ratio of 8.29 and a beta of 1.20. Dow Chemical has a one year low of $40.26 and a one year high of $57.10.
Dow Chemical (NYSE:DOW) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.12. The company had revenue of $12.48 billion for the quarter, compared to the consensus estimate of $12.01 billion. Dow Chemical had a return on equity of 17.81% and a net margin of 16.91%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 EPS. On average, equities research analysts predict that Dow Chemical will post $3.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, September 30th were paid a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.84 annualized dividend and a dividend yield of 3.46%. Dow Chemical’s payout ratio is currently 29.07%.
Hedge funds have recently bought and sold shares of the company. Washington Trust Bank increased its stake in Dow Chemical by 7.9% in the third quarter. Washington Trust Bank now owns 1,926 shares of the company’s stock valued at $100,000 after buying an additional 141 shares during the last quarter. Smithfield Trust Co. increased its stake in Dow Chemical by 14.2% in the third quarter. Smithfield Trust Co. now owns 1,941 shares of the company’s stock valued at $101,000 after buying an additional 241 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Dow Chemical during the second quarter valued at $111,000. Americafirst Capital Management LLC bought a new stake in Dow Chemical during the second quarter valued at $112,000. Finally, Nelson Roberts Investment Advisors LLC increased its stake in Dow Chemical by 2.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 2,260 shares of the company’s stock valued at $112,000 after buying an additional 50 shares during the last quarter. Institutional investors own 67.75% of the company’s stock.
Several equities research analysts recently commented on the company. Credit Suisse Group AG reaffirmed a “buy” rating and set a $61.00 target price on shares of Dow Chemical in a research note on Friday, July 29th. RBC Capital Markets reissued a “top pick” rating and issued a $68.00 price objective (up previously from $65.00) on shares of Dow Chemical in a research note on Friday, October 28th. Barclays PLC raised their price objective on Dow Chemical from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, July 29th. Vetr raised Dow Chemical from a “sell” rating to a “hold” rating and set a $51.12 price objective for the company in a research note on Monday, August 15th. Finally, Nomura raised their price objective on Dow Chemical from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $61.21.
Dow Chemical Company Profile
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