Grassi Investment Management raised its stake in shares of Dow Chemical Co. (NYSE:DOW) by 0.3% during the third quarter, Holdings Channel reports. The firm owned 105,675 shares of the company’s stock after buying an additional 310 shares during the period. Grassi Investment Management’s holdings in Dow Chemical were worth $5,477,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Washington Trust Bank boosted its position in Dow Chemical by 7.9% in the third quarter. Washington Trust Bank now owns 1,926 shares of the company’s stock valued at $100,000 after buying an additional 141 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in Dow Chemical during the second quarter valued at about $111,000. Americafirst Capital Management LLC purchased a new position in Dow Chemical during the second quarter valued at $112,000. Nelson Roberts Investment Advisors LLC boosted its position in Dow Chemical by 2.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 2,260 shares of the company’s stock valued at $112,000 after buying an additional 50 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC purchased a new position in Dow Chemical during the second quarter valued at $115,000. 67.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of Dow Chemical Co. (NYSE:DOW) traded up 0.26% on Monday, hitting $54.32. The stock had a trading volume of 6,646,458 shares. Dow Chemical Co. has a 12 month low of $40.26 and a 12 month high of $57.10. The firm’s 50-day moving average price is $53.66 and its 200 day moving average price is $52.73. The firm has a market cap of $60.91 billion, a P/E ratio of 8.46 and a beta of 1.20.
Dow Chemical (NYSE:DOW) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. The firm had revenue of $12.48 billion for the quarter, compared to analyst estimates of $12.01 billion. Dow Chemical had a net margin of 16.91% and a return on equity of 17.81%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 earnings per share. Analysts anticipate that Dow Chemical Co. will post $3.65 EPS for the current fiscal year.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Dow Chemical from a “buy” rating to a “hold” rating in a report on Wednesday, November 2nd. RBC Capital Markets reissued a “top pick” rating and set a $68.00 price target (up from $65.00) on shares of Dow Chemical in a report on Friday, October 28th. Royal Bank Of Canada increased their price target on Dow Chemical from $65.00 to $68.00 and gave the company a “top pick” rating in a report on Friday, October 28th. Vetr raised Dow Chemical from a “sell” rating to a “buy” rating and set a $57.93 price target on the stock in a report on Monday, October 24th. Finally, Citigroup Inc. raised Dow Chemical from a “neutral” rating to a “buy” rating and increased their price target for the company from $55.00 to $59.00 in a report on Monday, October 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $61.21.
About Dow Chemical