Dow Chemical Co. (DOW) Shares Bought by Salem Capital Management Inc.
Salem Capital Management Inc. increased its position in shares of Dow Chemical Co. (NYSE:DOW) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,600 shares of the company’s stock after buying an additional 1,525 shares during the period. Dow Chemical accounts for 3.2% of Salem Capital Management Inc.’s investment portfolio, making the stock its 13th largest position. Salem Capital Management Inc.’s holdings in Dow Chemical were worth $5,888,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Washington Trust Bank raised its position in shares of Dow Chemical by 7.9% in the third quarter. Washington Trust Bank now owns 1,926 shares of the company’s stock worth $100,000 after buying an additional 141 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Dow Chemical during the second quarter worth $111,000. Americafirst Capital Management LLC bought a new position in shares of Dow Chemical during the second quarter worth $112,000. Nelson Roberts Investment Advisors LLC raised its position in shares of Dow Chemical by 2.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 2,260 shares of the company’s stock worth $112,000 after buying an additional 50 shares during the period. Finally, Pinkerton Retirement Specialists LLC bought a new position in shares of Dow Chemical during the second quarter worth $115,000. Institutional investors own 67.32% of the company’s stock.
Shares of Dow Chemical Co. (NYSE:DOW) traded up 0.20% during midday trading on Friday, hitting $54.18. 2,494,390 shares of the company were exchanged. Dow Chemical Co. has a one year low of $40.26 and a one year high of $57.10. The stock’s 50-day moving average is $53.66 and its 200-day moving average is $52.73. The stock has a market cap of $60.76 billion, a PE ratio of 8.44 and a beta of 1.20.
Dow Chemical (NYSE:DOW) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.12. The firm earned $12.48 billion during the quarter, compared to analysts’ expectations of $12.01 billion. Dow Chemical had a net margin of 16.91% and a return on equity of 17.81%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 earnings per share. Equities research analysts anticipate that Dow Chemical Co. will post $3.65 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, September 30th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Wednesday, September 28th. Dow Chemical’s dividend payout ratio is currently 29.07%.
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A number of equities analysts have weighed in on DOW shares. Vetr upgraded shares of Dow Chemical from a “sell” rating to a “buy” rating and set a $57.93 price target on the stock in a report on Monday, October 24th. Zacks Investment Research upgraded shares of Dow Chemical from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Wednesday, October 5th. Citigroup Inc. upgraded shares of Dow Chemical from a “neutral” rating to a “buy” rating and lifted their target price for the company from $55.00 to $59.00 in a report on Monday, October 3rd. RBC Capital Markets set a $65.00 target price on shares of Dow Chemical and gave the company a “buy” rating in a report on Tuesday, September 20th. Finally, Credit Suisse Group AG restated a “buy” rating and set a $61.00 target price on shares of Dow Chemical in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $61.21.
About Dow Chemical
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