Trade Report: The Welch & Forbes LLC Reached $2,070,000 position of Dow Chemical Co. (DOW)

The Welch & Forbes LLC Reached $2,070,000 position  of Dow Chemical Co. (DOW)

Welch & Forbes LLC lowered its stake in shares of Dow Chemical Co. (NYSE:DOW) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,635 shares of the company’s stock after selling 584 shares during the period. Welch & Forbes LLC’s holdings in Dow Chemical were worth $2,070,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Edgar Lomax Co. VA increased its stake in shares of Dow Chemical by 4.2% in the first quarter. Edgar Lomax Co. VA now owns 922,749 shares of the company’s stock valued at $46,931,000 after buying an additional 36,775 shares in the last quarter. Huntington National Bank increased its stake in shares of Dow Chemical by 70.7% in the second quarter. Huntington National Bank now owns 496,787 shares of the company’s stock valued at $24,695,000 after buying an additional 205,820 shares in the last quarter. Avalon Advisors LLC increased its stake in shares of Dow Chemical by 4.7% in the first quarter. Avalon Advisors LLC now owns 491,973 shares of the company’s stock valued at $25,022,000 after buying an additional 22,098 shares in the last quarter. PGGM Investments increased its stake in shares of Dow Chemical by 2.5% in the second quarter. PGGM Investments now owns 784,601 shares of the company’s stock valued at $39,003,000 after buying an additional 18,878 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Dow Chemical by 3.5% in the first quarter. Legal & General Group Plc now owns 5,145,288 shares of the company’s stock valued at $261,704,000 after buying an additional 173,534 shares in the last quarter. 67.43% of the stock is owned by institutional investors and hedge funds.

Dow Chemical Co. (NYSE:DOW) traded down 1.17% during mid-day trading on Friday, reaching $53.92. The company’s stock had a trading volume of 8,136,670 shares. The stock has a market cap of $60.46 billion, a PE ratio of 8.40 and a beta of 1.40. The company has a 50 day moving average of $53.04 and a 200-day moving average of $52.54. Dow Chemical Co. has a 52-week low of $40.26 and a 52-week high of $57.10.

Dow Chemical (NYSE:DOW) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. The company had revenue of $12.48 billion for the quarter, compared to analyst estimates of $12.01 billion. Dow Chemical had a return on equity of 17.81% and a net margin of 16.91%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 earnings per share. Equities analysts forecast that Dow Chemical Co. will post $3.55 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, September 30th were issued a $0.46 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.41%. Dow Chemical’s dividend payout ratio (DPR) is 29.07%.

DOW has been the subject of several research analyst reports. Credit Agricole SA downgraded Dow Chemical from an “outperform” rating to an “underperform” rating in a research note on Wednesday, July 6th. Vetr raised Dow Chemical from a “sell” rating to a “hold” rating and set a $51.12 price objective for the company in a research note on Monday, August 15th. Zacks Investment Research raised Dow Chemical from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Wednesday, October 5th. Nomura reissued a “buy” rating on shares of Dow Chemical in a research note on Tuesday, July 12th. Finally, Citigroup Inc. raised Dow Chemical from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $59.00 in a research note on Monday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Dow Chemical presently has a consensus rating of “Buy” and an average price target of $61.21.

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