Fintel reports that on April 27, 2023, BMO Capital maintained coverage of Dow (NYSE:DOW) with a Market Perform recommendation.
Analyst Price Forecast Suggests 13.40% Upside
As of April 24, 2023, the average one-year price target for Dow is 59.62. The forecasts range from a low of 45.45 to a high of $71.40. The average price target represents an increase of 13.40% from its latest reported closing price of 52.58.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dow is 52,469MM, a decrease of 1.91%. The projected annual non-GAAP EPS is 4.46.
Dow Declares $0.70 Dividend
On April 13, 2023 the company declared a regular quarterly dividend of $0.70 per share ($2.80 annualized). Shareholders of record as of May 31, 2023 will receive the payment on June 9, 2023. Previously, the company paid $0.70 per share.
At the current share price of $52.58 / share, the stock's dividend yield is 5.33%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.46%, the lowest has been 3.95%, and the highest has been 12.73%. The standard deviation of yields is 1.19 (n=191).
The current dividend yield is 0.12 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.68. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 2799 funds or institutions reporting positions in Dow. This is an increase of 97 owner(s) or 3.59% in the last quarter. Average portfolio weight of all funds dedicated to DOW is 0.36%, an increase of 6.81%. Total shares owned by institutions increased in the last three months by 0.52% to 525,809K shares. 
The put/call ratio of DOW is 1.05, indicating a bearish outlook.
What are Other Shareholders Doing?
Massachusetts Financial Services holds 23,557K shares representing 3.33% ownership of the company. In it's prior filing, the firm reported owning 24,320K shares, representing a decrease of 3.24%. The firm increased its portfolio allocation in DOW by 23.16% over the last quarter.
Capital World Investors holds 19,969K shares representing 2.82% ownership of the company. In it's prior filing, the firm reported owning 19,970K shares, representing a decrease of 0.00%. The firm increased its portfolio allocation in DOW by 8.90% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 13,583K shares representing 1.92% ownership of the company. In it's prior filing, the firm reported owning 21,388K shares, representing a decrease of 57.46%. The firm decreased its portfolio allocation in DOW by 13.50% over the last quarter.
Boston Partners holds 12,749K shares representing 1.80% ownership of the company. In it's prior filing, the firm reported owning 12,500K shares, representing an increase of 1.95%. The firm increased its portfolio allocation in DOW by 27.84% over the last quarter.
MEIAX - MFS Value Fund A holds 11,855K shares representing 1.67% ownership of the company. In it's prior filing, the firm reported owning 12,030K shares, representing a decrease of 1.47%. The firm increased its portfolio allocation in DOW by 9.19% over the last quarter.
Dow Background Information
(This description is provided by the company.)
Dow combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. The Company's ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company, with a purpose to deliver a sustainable future for the world through its materials science expertise and collaboration with its partners. Dow's portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer care. Dow operates 106 manufacturing sites in 31 countries and employs approximately 35,700 people. Dow delivered sales of approximately $39 billion in 2020.
See all Dow regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
