First Mercantile Trust Co. lessened its holdings in shares of Dow Chemical Co (NYSE:DOW) by 57.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,750 shares of the basic materials company’s stock after selling 15,800 shares during the quarter. First Mercantile Trust Co.’s holdings in Dow Chemical were worth $741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DOW. Waldron LP grew its stake in Dow Chemical by 80.8% during the 1st quarter. Waldron LP now owns 9,150 shares of the basic materials company’s stock valued at $580,000 after purchasing an additional 4,089 shares in the last quarter. First Houston Capital Inc. grew its stake in Dow Chemical by 1.3% during the 1st quarter. First Houston Capital Inc. now owns 54,950 shares of the basic materials company’s stock valued at $3,492,000 after purchasing an additional 700 shares in the last quarter. WASHINGTON TRUST Co grew its stake in Dow Chemical by 5.8% during the 1st quarter. WASHINGTON TRUST Co now owns 164,134 shares of the basic materials company’s stock valued at $10,429,000 after purchasing an additional 9,025 shares in the last quarter. Klingenstein Fields & Co. LLC grew its stake in Dow Chemical by 43.6% during the 1st quarter. Klingenstein Fields & Co. LLC now owns 71,441 shares of the basic materials company’s stock valued at $4,539,000 after purchasing an additional 21,676 shares in the last quarter. Finally, Webster Bank N. A. grew its stake in Dow Chemical by 0.3% during the 1st quarter. Webster Bank N. A. now owns 175,842 shares of the basic materials company’s stock valued at $11,173,000 after purchasing an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

A number of brokerages have weighed in on DOW. BidaskClub upgraded Dow Chemical from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Jefferies Group LLC restated a “buy” rating on shares of Dow Chemical in a research note on Tuesday, August 29th. Zacks Investment Research lowered Dow Chemical from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Royal Bank Of Canada restated a “buy” rating and set a $78.00 price objective on shares of Dow Chemical in a research note on Wednesday, September 6th. Finally, Cowen and Company restated a “hold” rating and set a $60.00 price objective on shares of Dow Chemical in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $72.02.

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Dow Chemical Co (NYSE DOW) opened at 66.65 on Monday. Dow Chemical Co has a 12 month low of $51.57 and a 12 month high of $67.50. The firm has a market cap of $81.54 billion, a price-to-earnings ratio of 28.54 and a beta of 1.13. The stock has a 50 day moving average price of $64.79 and a 200 day moving average price of $63.46.

Dow Chemical (NYSE:DOW) last issued 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 firm had revenue of $13.83 billion for the quarter, compared to analyst estimates of $13.60 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities analysts expect that Dow Chemical Co will post $4.11 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, July 31st were paid 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 dividend payout ratio is 76.99%.

About Dow Chemical

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

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