The Smith Salley & Associates decides to keep it stake in Dow Chemical Co. (DOW) to the level of $2,990,000

The Smith Salley & Associates decides to keep it stake in Dow Chemical Co. (DOW) to the level of $2,990,000

Smith Salley & Associates increased its stake in shares of Dow Chemical Co. (NYSE:DOW) by 21.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,155 shares of the company’s stock after buying an additional 10,670 shares during the period. Smith Salley & Associates’ holdings in Dow Chemical were worth $2,990,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DOW. Pictet Asset Management Ltd. raised its stake in shares of Dow Chemical by 24.8% in the first quarter. Pictet Asset Management Ltd. now owns 1,083,365 shares of the company’s stock valued at $52,662,000 after buying an additional 215,297 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Dow Chemical by 30.5% in the first quarter. UBS Asset Management Americas Inc. now owns 4,215,193 shares of the company’s stock valued at $214,382,000 after buying an additional 984,233 shares during the period. Primecap Management Co. CA raised its stake in shares of Dow Chemical by 2.0% in the first quarter. Primecap Management Co. CA now owns 1,554,925 shares of the company’s stock valued at $79,083,000 after buying an additional 29,775 shares during the period. Lazard Asset Management LLC raised its stake in shares of Dow Chemical by 21.1% in the first quarter. Lazard Asset Management LLC now owns 30,787 shares of the company’s stock valued at $1,565,000 after buying an additional 5,361 shares during the period. Finally, State Street Corp raised its stake in shares of Dow Chemical by 2.5% in the first quarter. State Street Corp now owns 45,145,666 shares of the company’s stock valued at $2,296,103,000 after buying an additional 1,092,573 shares during the period. 67.43% of the stock is owned by hedge funds and other institutional investors.

Dow Chemical Co. (NYSE:DOW) traded down 0.47% during midday trading on Monday, reaching $53.13. 2,508,830 shares of the company were exchanged. The firm’s 50 day moving average price is $53.02 and its 200-day moving average price is $52.33. The stock has a market capitalization of $59.87 billion, a P/E ratio of 7.76 and a beta of 1.40. Dow Chemical Co. has a 52 week low of $40.26 and a 52 week high of $57.10.

Dow Chemical (NYSE:DOW) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. Dow Chemical had a net margin of 18.31% and a return on equity of 18.86%. The firm had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.24 billion. During the same quarter last year, the company earned $0.91 EPS. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. Equities analysts forecast that Dow Chemical Co. will post $3.53 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be paid a $0.46 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.84 dividend on an annualized basis and a yield of 3.45%. Dow Chemical’s dividend payout ratio is currently 27.10%.

Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Dow Chemical from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Wednesday, October 5th. Citigroup Inc. upgraded shares of Dow Chemical from a “neutral” rating to a “buy” rating and boosted their target price for the company from $55.00 to $59.00 in a research report on Monday, October 3rd. RBC Capital Markets set a $65.00 target price on shares of Dow Chemical and gave the company a “buy” rating in a research report on Tuesday, September 20th. Vetr upgraded shares of Dow Chemical from a “hold” rating to a “buy” rating and set a $57.48 target price for the company in a research report on Monday, September 5th. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $61.00 price target on shares of Dow Chemical in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Dow Chemical has a consensus rating of “Buy” and an average price target of $60.10.

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