Dow Chemical Co (DOW) Shares Bought by Third Point LLC

Third Point LLC boosted its stake in shares of Dow Chemical Co (NYSE:DOW) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,000,000 shares of the basic materials company’s stock after purchasing an additional 300,000 shares during the quarter. Dow Chemical accounts for approximately 8.9% of Third Point LLC’s holdings, making the stock its 2nd biggest position. Third Point LLC owned 1.31% of Dow Chemical worth $1,009,120,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Teachers Retirement System of The State of Kentucky grew its holdings in Dow Chemical by 0.3% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 426,384 shares of the basic materials company’s stock worth $26,893,000 after acquiring an additional 1,155 shares during the last quarter. TLP Group LLC bought a new stake in Dow Chemical during the 2nd quarter worth about $189,000. Baker Avenue Asset Management LP grew its holdings in Dow Chemical by 3.2% during the 2nd quarter. Baker Avenue Asset Management LP now owns 99,414 shares of the basic materials company’s stock worth $6,270,000 after acquiring an additional 3,055 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in Dow Chemical by 30.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,912,848 shares of the basic materials company’s stock worth $183,711,000 after acquiring an additional 681,322 shares during the last quarter. Finally, WealthPLAN Partners LLC grew its holdings in Dow Chemical by 3,112.5% during the 2nd quarter. WealthPLAN Partners LLC now owns 11,019 shares of the basic materials company’s stock worth $695,000 after acquiring an additional 10,676 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Dow Chemical Co (DOW) traded up $1.75 during midday trading on Thursday, hitting $66.65. 43,802,000 shares of the stock were exchanged, compared to its average volume of 5,740,120. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.32 and a current ratio of 1.93. Dow Chemical Co has a 12 month low of $51.57 and a 12 month high of $67.50.

Several brokerages have recently issued reports on DOW. BidaskClub lowered shares of Dow Chemical from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $78.00 target price on shares of Dow Chemical in a research note on Wednesday, September 6th. Jefferies Group reaffirmed a “buy” rating on shares of Dow Chemical in a research note on Tuesday, August 29th. Finally, Cowen reiterated a “hold” rating and issued a $60.00 price target on shares of Dow Chemical in a research report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Dow Chemical has an average rating of “Buy” and a consensus price target of $72.02.

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Dow Chemical Profile

Institutional Ownership by Quarter for Dow Chemical (NYSE:DOW)

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