Highland Capital Management LLC Lowers Stake in Dow Chemical Company (The) (DOW)

Highland Capital Management LLC decreased its position in Dow Chemical Company (The) (NYSE:DOW) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,031 shares of the basic materials company’s stock after selling 4,316 shares during the period. Highland Capital Management LLC’s holdings in Dow Chemical Company (The) were worth $6,940,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. CENTRAL TRUST Co increased its position in shares of Dow Chemical Company (The) by 19.2% in the first quarter. CENTRAL TRUST Co now owns 71,366 shares of the basic materials company’s stock worth $4,534,000 after buying an additional 11,477 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of Dow Chemical Company (The) by 1.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,348,225 shares of the basic materials company’s stock worth $85,666,000 after buying an additional 24,460 shares during the last quarter. HT Partners LLC purchased a new position in shares of Dow Chemical Company (The) during the first quarter worth approximately $202,000. Deane Retirement Strategies Inc. increased its position in shares of Dow Chemical Company (The) by 5.4% in the first quarter. Deane Retirement Strategies Inc. now owns 45,887 shares of the basic materials company’s stock worth $2,918,000 after buying an additional 2,353 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC boosted its stake in shares of Dow Chemical Company (The) by 15.9% in the first quarter. Franklin Street Advisors Inc. NC now owns 11,236 shares of the basic materials company’s stock worth $714,000 after buying an additional 1,540 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Dow Chemical Company (NYSE:DOW) opened at 63.40 on Friday. The stock has a market cap of $77.57 billion, a P/E ratio of 27.15 and a beta of 1.13. Dow Chemical Company has a 1-year low of $51.57 and a 1-year high of $67.50. The firm’s 50-day moving average is $64.66 and its 200-day moving average is $63.17.

Dow Chemical Company (The) (NYSE:DOW) last announced 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 firm had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $13.60 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. On average, analysts forecast that Dow Chemical Company will post $4.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, July 31st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Thursday, July 27th. Dow Chemical Company (The)’s payout ratio is 76.99%.

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A number of equities research analysts recently weighed in on DOW shares. Alembic Global Advisors set a $85.00 price target on shares of Dow Chemical Company (The) and gave the company a “buy” rating in a research report on Thursday, July 27th. Citigroup Inc. boosted their price target on shares of Dow Chemical Company (The) from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Barclays PLC upped their target price on shares of Dow Chemical Company (The) from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, May 1st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $76.00 target price on shares of Dow Chemical Company (The) in a report on Friday, April 28th. Finally, BidaskClub cut shares of Dow Chemical Company (The) from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Dow Chemical Company (The) 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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