Comerica Securities Inc. Increases Position in Dow Chemical Company (The) (NYSE:DOW)

Comerica Securities Inc. increased its position in shares of Dow Chemical Company (The) (NYSE:DOW) by 124.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,274 shares of the basic materials company’s stock after buying an additional 15,149 shares during the period. Comerica Securities Inc.’s holdings in Dow Chemical Company (The) were worth $1,733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DOW. Pinnacle Bank bought a new position in Dow Chemical Company (The) during the first quarter worth about $103,000. First Financial Corp IN raised its position in Dow Chemical Company (The) by 79.8% in the first quarter. First Financial Corp IN now owns 1,690 shares of the basic materials company’s stock worth $107,000 after buying an additional 750 shares during the period. Cable Hill Partners LLC raised its position in Dow Chemical Company (The) by 7.6% in the first quarter. Cable Hill Partners LLC now owns 1,764 shares of the basic materials company’s stock worth $112,000 after buying an additional 124 shares during the period. Ruggie Capital Group raised its position in Dow Chemical Company (The) by 262.7% in the first quarter. Ruggie Capital Group now owns 2,637 shares of the basic materials company’s stock worth $168,000 after buying an additional 1,910 shares during the period. Finally, Lyell Wealth Management LP bought a new position in Dow Chemical Company (The) during the first quarter worth about $200,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Shares of Dow Chemical Company (NYSE:DOW) opened at 63.40 on Friday. The stock’s 50 day moving average price is $64.66 and its 200 day moving average price is $63.17. The stock has a market cap of $77.57 billion, a price-to-earnings ratio of 27.15 and a beta of 1.13. Dow Chemical Company has a 52 week low of $51.57 and a 52 week high of $67.50.

Dow Chemical Company (The) (NYSE:DOW) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.07. Dow Chemical Company (The) had a net margin of 5.83% and a return on equity of 17.08%. The business had revenue of $13.83 billion for the quarter, compared to analyst estimates of $13.60 billion. During the same quarter last year, the business earned $0.95 earnings per share. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. Equities research analysts anticipate that Dow Chemical Company will post $4.08 EPS for the current fiscal 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 given a $0.46 dividend. The ex-dividend date is Thursday, July 27th. This represents a $1.84 annualized dividend and a yield of 2.90%. Dow Chemical Company (The)’s dividend payout ratio (DPR) is 76.99%.

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A number of analysts have issued reports on the company. BidaskClub raised Dow Chemical Company (The) from a “strong sell” rating to a “sell” rating in a report on Thursday. Alembic Global Advisors set a $85.00 price target on Dow Chemical Company (The) and gave the stock a “buy” rating in a report on Thursday, July 27th. Cowen and Company reaffirmed a “hold” rating and set a $60.00 price target on shares of Dow Chemical Company (The) in a report on Friday, July 14th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $76.00 price target on shares of Dow Chemical Company (The) in a report on Thursday, July 6th. Finally, Zacks Investment Research downgraded Dow Chemical Company (The) from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $71.42.

About Dow Chemical Company (The)

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

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