Stocks: New Mexico Educational Retirement Board decides to keep it stake in Dow Chemical Co …

New Mexico Educational Retirement Board raised its position in Dow Chemical Co. (NYSE:DOW) by 5.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 130,888 shares of the company’s stock after buying an additional 6,400 shares during the period. New Mexico Educational Retirement Board’s holdings in Dow Chemical were worth $6,506,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Dow Chemical by 11.8% in the first quarter. Wellington Management Group LLP now owns 15,291,852 shares of the company’s stock valued at $777,743,000 after buying an additional 1,616,491 shares during the last quarter. Legal & General Group Plc raised its position in 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 during the last quarter. Swiss National Bank raised its position in Dow Chemical by 7.2% in the second quarter. Swiss National Bank now owns 3,131,382 shares of the company’s stock valued at $155,661,000 after buying an additional 210,300 shares during the last quarter. Nordea Investment Management AB raised its position in Dow Chemical by 223.1% in the second quarter. Nordea Investment Management AB now owns 2,588,422 shares of the company’s stock valued at $128,670,000 after buying an additional 1,787,393 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in Dow Chemical by 0.6% in the second quarter. California State Teachers Retirement System now owns 2,449,135 shares of the company’s stock valued at $121,747,000 after buying an additional 13,780 shares during the last quarter. Institutional investors and hedge funds own 67.54% of the company’s stock.

Dow Chemical Co. (NYSE:DOW) traded down 0.20% on Monday, reaching $53.81. The company had a trading volume of 5,953,595 shares. The firm has a market capitalization of $60.34 billion, a PE ratio of 8.38 and a beta of 1.40. Dow Chemical Co. has a 12 month low of $40.26 and a 12 month high of $57.10. The stock has a 50 day moving average of $53.04 and a 200 day moving average of $52.54.

Dow Chemical (NYSE:DOW) last issued its earnings results on Thursday, October 27th. The company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.12. Dow Chemical had a return on equity of 17.81% and a net margin of 16.91%. The company earned $12.48 billion during the quarter, compared to the consensus estimate of $12.01 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The company’s revenue was up 3.7% compared to the same quarter last year. On average, analysts anticipate that Dow Chemical Co. will post $3.61 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, September 30th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Wednesday, September 28th. Dow Chemical’s payout ratio is 29.07%.

DOW has been the topic of several research reports. Vetr lowered Dow Chemical from a “buy” rating to a “sell” rating and set a $46.12 target price on the stock. in a research note on Monday, July 4th. Nomura increased their target price on Dow Chemical from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Citigroup Inc. raised Dow Chemical from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $59.00 in a research note on Monday, October 3rd. Zacks Investment Research raised Dow Chemical from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Wednesday, October 5th. Finally, Royal Bank Of Canada increased their target price on Dow Chemical from $65.00 to $68.00 and gave the stock a “top pick” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $61.21.

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