Dow Chemical (NYSE:DOW) Receives a Downgrade
In a recent research report sent to clients and investors on Tuesday, 15 December, UBS cut Dow Chemical (NYSE:DOW) shares to a “Neutral” rating from the previous “Buy”. UBS now has a $53 target PPS on the stock. This target PPS provides a possible upside, according to the firm, of 4.81% from last price of the stock.
From a total of 18 analysts covering The Dow Chemical Company (NYSE:DOW) stock, 13 rate it a ”Buy”, 1 a “Sell”, and 9 a ”Hold”. This means that 57% of the ratings are positive. The highest target price is $67 while the lowest target price is $47. The mean of all analyst targets is $58.44 with a 10.96% above today’s ($50.57) stock price. The Dow Chemical Company was the topic of 16 analyst reports since August 20, 2015 according to the firm StockzIntelligence Inc. Jefferies maintained shares on December 14 with “Hold” rating. Bernstein initiated shares with “Outperform” rating and $57 target share price in a report from a September 11. Barclays Capital initiated DOW stock in a recent report from November 4 with “Equal-Weight” rating. Zacks upgraded the rating on August 24. Zacks has a “Hold” rating and a $48 price target on shares. Finally, RBC Capital Markets maintained the stock with “Outperform” rating in a report issued on an October 23.
The stock decreased 1.38% or $0.71 during the last trading session, striking $50.57. Approximately 13.90 million shares of stock traded hands or 11.65% up from the average. Dow Chemical Co (NYSE:DOW) has risen 0.67% since May 12, 2015 and is uptrending. It has outperformed by 4.34% the S&P500.
The overall sentiment of institutions has decreased to 1.1 in Q2 2015. Its down 0.13, from 1.23 in 2015Q2. The ratio is negative, as 127 institutions have sold all the shares of Dow Chemical Co that they owned while 328 funds have taken shares off the table. 69 funds have purchased shares for the first time while 431 added to their positions. These institutions now hold 892.59 million shares or 13.01% more than the 789.80 million shares they owned in 2015Q2.
The Fund Alpine Partners Vi Llc currently is holding shares equating to 33.99% of its total portfolio in Dow Chemical Co representing a total of 2.71 million shares. Another fund,Bluefin Trading Llc, is holding a total of 9.58 million shares equating to 24.79% of their holdings. Additionally, Chemical Bank has a 1.85 million share stake in Dow Chemical Co which represents 11.3% of their total portfolio. The Fund, Davidson Kempner Capital Management Lp, based out of New York, has also built up a stake in the stock, which represents a total of 9.66% of their total portfolio. Finally Third Point Llc, a fund which is based in the state of New York reported a total holdings of 23.50 million shares.
The Dow Chemical Company is as an integrated science and technology company. The company has a market cap of $59.40 billion. The Firm is a diversified, maker and supplier of products used primarily as raw materials in the manufacture of customer services and products across the world. It has 13.8 P/E ratio. The Firm operates in five divisions: Agricultural Sciences, Consumer Solutions, Infrastructure Solutions, Performance Materials & Chemicals and Performance Plastics.
According to Zacks Investment Research, “Dow Chemical Company is a science and technology company that provides innovative chemical, plastic and agricultural products and services to many essential consumer markets. Dow serves customers in countries across the globe and a wide range of markets that are vital to human progress, including food, transportation, health and medicine, personal and home care, and building and construction, among others. Committed to the principles of sustainable development, Dow seeks to balance economic, environmental and social responsibilities. (Company Press Release)”