Pzena Investment Management LLC has recently announced that it has increased stake in Dow Inc (NYSE:DOW) by 22.49%. After grabbing 18.23 million shares, the institutional investor is now in possession of 3.35 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 2.60% having worth around $943.44 million. Moreover, Geode Capital Management LLC increased its share by 0.21 million to have a control over 13.4 million shares. And JPMorgan Investment Management, I raised its holdings to 1.03 million shares by acquiring 11.84 million shares or 1.69% of the stake.
Dow Inc (DOW) concluded trading on December 20, 2023 at a closing price of $54.58, with 4.74 million shares of worth about $258.74 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 6.21% during that period and On Wednesday the price saw a loss of about -0.62%. Currently the company’s common shares owned by public are about 704.88M shares, out of which, 699.76M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 64 times over the past 12 months. They bought 412,400 shares in 36 of the transactions. In 28 selling transactions, insiders dumped 311,902 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Fidelity 500 Index Fund are the top 3 mutual funds which are holding stakes in Dow Inc Vanguard Total Stock Market ETF is currently holding 21.99 million shares of worth totaling $1.14 billion. The company recently came buying 0.12 million shares which brought its stake up to 3.14% of the company’s outstanding shares. Vanguard 500 Index Fund bought 93964.0 shares, after which its hold over company’s outstanding shares expand to 2.42%, leaving 16.99 million shares with the mutual fund that have a worth of about $879.27 million. Fidelity 500 Index Fund, after buying 8.14 million shares, have now control over 1.16% of the stake in the company. It holds 64847.0 shares of worth $421.28 million.
Stock saw a price change of 4.30% in past 5 days and over the past one month there was a price change of 5.61%. Year-to-date (YTD), DOW shares are showing a performance of 8.32% which increased to 10.64% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $47.26 but also hit the highest price of $60.88 during that period. The average intraday trading volume for Dow Inc shares is 4.21 million. The stock is currently trading 4.84% above its 20-day simple moving average (SMA20), while that difference is up 7.94% for SMA50 and it goes to 3.84% higher than SMA200.
Pzena Investment Management LLC acquired 18.23 million shares of Dow Inc having value of about $943.44 million. Data submitted at the U.S SEC by Pzena Investment Management LLC revealed that the firm now holds 3.35 million shares in the company valued at close to $182664305.08, or have control over 22.49% stake in the company. Dow Inc (NYSE: DOW) currently have 704.88M outstanding shares and institutions hold larger chunk of about 65.77% of that. Holding of mutual funds in the company is about 32.98% while other institutional holders and individual stake holders have control over 33.00% and 0.26% of the stake respectively.
The stock has a current market capitalization of $38.28B and its 3Y-monthly beta is at 1.32. PE ratio of stock for trailing 12 months is 29.94, while it has posted earnings per share of $1.82 in the same period. It has Quick Ratio of 1.18 while making debt-to-equity ratio of 0.83. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DOW, volatility over the week remained 1.94% while standing at 1.76% over the month.
Analysts are in expectations that Dow Inc (DOW) stock would likely to be making an EPS of $0.4 in the current quarter, while forecast for next quarter EPS is $0.53 and it is $3.22 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.35 which is $0.48 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.46 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -64.56% while it is estimated to increase by 45.91% in next year.
