Capstone Asset Management Co. Purchases 219,973 Shares of Dow Chemical Co. (DOW)
Capstone Asset Management Co. boosted its stake in shares of Dow Chemical Co. (NYSE:DOW) by 262.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 303,877 shares of the company’s stock after buying an additional 219,973 shares during the period. Capstone Asset Management Co.’s holdings in Dow Chemical were worth $15,750,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in DOW. Huntington National Bank increased its stake in Dow Chemical by 70.7% in the second quarter. Huntington National Bank now owns 496,787 shares of the company’s stock worth $24,695,000 after buying an additional 205,820 shares in the last quarter. PGGM Investments increased its stake in Dow Chemical by 2.5% in the second quarter. PGGM Investments now owns 784,601 shares of the company’s stock worth $39,003,000 after buying an additional 18,878 shares in the last quarter. Bristol Gate Capital Partners Inc. bought a new stake in Dow Chemical during the second quarter worth about $24,835,000. Ardevora Asset Management LLP increased its stake in Dow Chemical by 15.1% in the second quarter. Ardevora Asset Management LLP now owns 385,223 shares of the company’s stock worth $19,149,000 after buying an additional 50,400 shares in the last quarter. Finally, Salem Capital Management Inc. increased its stake in Dow Chemical by 1.4% in the third quarter. Salem Capital Management Inc. now owns 113,600 shares of the company’s stock worth $5,888,000 after buying an additional 1,525 shares in the last quarter. 67.89% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Dow Chemical Co. (NYSE:DOW) traded up 1.46% on Wednesday, reaching $54.78. 4,465,473 shares of the company’s stock traded hands. The company’s 50-day moving average price is $53.69 and its 200 day moving average price is $52.77. Dow Chemical Co. has a one year low of $40.26 and a one year high of $57.10. The firm has a market cap of $61.43 billion, a P/E ratio of 8.54 and a beta of 1.20.
Dow Chemical (NYSE:DOW) last announced its earnings results on Thursday, October 27th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.12. Dow Chemical had a return on equity of 17.81% and a net margin of 16.91%. The firm earned $12.48 billion during the quarter, compared to the consensus estimate of $12.01 billion. During the same quarter in the prior year, the company earned $0.82 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts forecast that Dow Chemical Co. will post $3.65 EPS for the current fiscal year.
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A number of research firms recently issued reports on DOW. Royal Bank Of Canada lifted their target price on Dow Chemical from $65.00 to $68.00 and gave the company a “top pick” rating in a research report on Friday, October 28th. RBC Capital Markets reiterated a “top pick” rating and set a $68.00 price target (up previously from $65.00) on shares of Dow Chemical in a report on Friday, October 28th. Vetr upgraded Dow Chemical from a “sell” rating to a “buy” rating and set a $57.93 price target for the company in a report on Monday, October 24th. Citigroup Inc. upgraded Dow Chemical from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $59.00 in a report on Monday, October 3rd. Finally, Zacks Investment Research cut Dow Chemical from a “buy” rating to a “hold” rating in a report on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $61.21.
About Dow Chemical
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