New Mexico Educational Retirement Board lowered its holdings in Dow Chemical Co (NYSE:DOW) by 7.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,488 shares of the basic materials company’s stock after selling 8,700 shares during the period. New Mexico Educational Retirement Board’s holdings in Dow Chemical were worth $6,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in DOW. Financial Architects Inc lifted its stake in Dow Chemical by 0.4% in the second quarter. Financial Architects Inc now owns 2,290 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 10 shares during the last quarter. Cypress Capital Management LLC lifted its stake in Dow Chemical by 0.3% in the first quarter. Cypress Capital Management LLC now owns 4,017 shares of the basic materials company’s stock valued at $255,000 after acquiring an additional 12 shares during the last quarter. Mascoma Wealth Management LLC lifted its stake in Dow Chemical by 0.4% in the second quarter. Mascoma Wealth Management LLC now owns 3,513 shares of the basic materials company’s stock valued at $222,000 after acquiring an additional 14 shares during the last quarter. Capital Management Corp VA lifted its stake in Dow Chemical by 0.3% in the second quarter. Capital Management Corp VA now owns 4,505 shares of the basic materials company’s stock valued at $284,000 after acquiring an additional 14 shares during the last quarter. Finally, Guardian Life Insurance Co. of America lifted its stake in Dow Chemical by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,312 shares of the basic materials company’s stock valued at $274,000 after acquiring an additional 15 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

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DOW has been the subject of a number of recent analyst reports. Alembic Global Advisors set a $85.00 price target on shares of Dow Chemical and gave the company a “buy” rating in a research note on Thursday, July 27th. Royal Bank Of Canada reiterated a “buy” rating and issued a $76.00 price target on shares of Dow Chemical in a research note on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating on shares of Dow Chemical in a research note on Tuesday, August 29th. Cowen and Company reiterated a “hold” rating and issued a $60.00 price target on shares of Dow Chemical in a research note on Monday, August 28th. Finally, BidaskClub upgraded shares of Dow Chemical from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $72.02.

Shares of Dow Chemical Co (NYSE DOW) opened at 66.65 on Friday. The firm has a market cap of $81.54 billion, a PE ratio of 28.54 and a beta of 1.13. The stock’s 50 day moving average is $64.79 and its 200-day moving average is $63.46. Dow Chemical Co has a 1-year low of $51.57 and a 1-year high of $67.50.

Dow Chemical (NYSE:DOW) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.07. The company had revenue of $13.83 billion during 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%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. Analysts expect that Dow Chemical Co will post $4.11 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, July 31st were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.84 annualized dividend and a yield of 2.76%. Dow Chemical’s payout ratio is currently 76.99%.

About Dow Chemical

Institutional Ownership by Quarter for Dow Chemical (NYSE:DOW)

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