Dow Chemical Co (DOW) Stake Boosted by Welch & Forbes LLC
Welch & Forbes LLC grew its position in Dow Chemical Co (NYSE:DOW) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,866 shares of the basic materials company’s stock after purchasing an additional 235 shares during the quarter. Welch & Forbes LLC’s holdings in Dow Chemical were worth $2,451,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. First National Bank & Trust Co. of Newtown raised its position in shares of Dow Chemical by 2.0% in the second quarter. First National Bank & Trust Co. of Newtown now owns 11,983 shares of the basic materials company’s stock valued at $756,000 after purchasing an additional 230 shares during the period. YHB Investment Advisors Inc. raised its position in shares of Dow Chemical by 7.2% in the second quarter. YHB Investment Advisors Inc. now owns 9,071 shares of the basic materials company’s stock valued at $572,000 after purchasing an additional 610 shares during the period. Enterprise Financial Services Corp raised its position in shares of Dow Chemical by 12.2% in the second quarter. Enterprise Financial Services Corp now owns 16,435 shares of the basic materials company’s stock valued at $1,037,000 after purchasing an additional 1,781 shares during the period. ST Germain D J Co. Inc. bought a new position in shares of Dow Chemical in the second quarter valued at approximately $212,000. Finally, Ingalls & Snyder LLC raised its position in shares of Dow Chemical by 4.1% in the second quarter. Ingalls & Snyder LLC now owns 18,729 shares of the basic materials company’s stock valued at $1,181,000 after purchasing an additional 735 shares during the period. 67.77% of the stock is currently owned by institutional investors.
Dow Chemical Co (DOW) opened at 66.65 on Friday. The company has a market cap of $81.54 billion, a price-to-earnings ratio of 28.54 and a beta of 1.13. Dow Chemical Co has a 12 month low of $51.57 and a 12 month high of $67.50. The company’s 50-day moving average is $64.79 and its 200-day moving average is $63.46.
Dow Chemical (NYSE:DOW) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.07. Dow Chemical had a return on equity of 19.01% and a net margin of 9.82%. The business had revenue of $13.83 billion during the quarter, compared to the consensus estimate of $13.60 billion. During the same quarter last year, the firm posted $0.95 EPS. The company’s quarterly revenue was up 15.7% on a year-over-year basis. On average, equities research analysts anticipate that Dow Chemical Co will post $4.11 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, July 31st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.76%. The ex-dividend date is Thursday, July 27th. Dow Chemical’s dividend payout ratio is 76.99%.
A number of research firms have recently commented on DOW. BidaskClub lowered shares of Dow Chemical from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Royal Bank Of Canada reissued a “buy” rating and issued a $78.00 price target on shares of Dow Chemical in a research report on Wednesday, September 6th. Zacks Investment Research lowered shares of Dow Chemical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Cowen and Company reissued a “hold” rating and issued a $60.00 price target on shares of Dow Chemical in a research report on Friday, July 14th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of Dow Chemical in a research report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Dow Chemical presently has a consensus rating of “Buy” and an average target price of $71.62.
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About Dow Chemical
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