1832 Asset Management L.P. Cuts Stock Holdings in DuPont de Nemours, Inc. (NYSE:DD)

1832 Asset Management L.P. trimmed its holdings in DuPont de Nemours, Inc. (NYSE:DD) by 13.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 427,866 shares of the basic materials company’s stock after selling 68,585 shares during the quarter. 1832 Asset Management L.P. owned about 0.10% of DuPont de Nemours worth $32,804,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwest Financial Advisors purchased a new position in DuPont de Nemours in the fourth quarter worth approximately $25,000. Palisade Asset Management LLC purchased a new position in shares of DuPont de Nemours during the 1st quarter worth $25,000. ESL Trust Services LLC acquired a new stake in shares of DuPont de Nemours during the 1st quarter worth about $26,000. LifeSteps Financial Inc. acquired a new position in DuPont de Nemours in the first quarter valued at about $28,000. Finally, Byrne Asset Management LLC acquired a new stake in DuPont de Nemours in the 1st quarter valued at approximately $33,000. Institutional investors and hedge funds own 73.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on DD shares. Mizuho lifted their target price on DuPont de Nemours from $83.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. BMO Capital Markets raised shares of DuPont de Nemours from a “market perform” rating to an “outperform” rating and raised their target price for the company from $83.00 to $96.00 in a report on Thursday, May 23rd. JPMorgan Chase & Co. raised their price objective on shares of DuPont de Nemours from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Citigroup decreased their price objective on shares of DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Finally, Wells Fargo & Company raised DuPont de Nemours from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $80.00 to $103.00 in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, DuPont de Nemours currently has an average rating of “Moderate Buy” and an average target price of $91.00.

DuPont de Nemours Stock Performance

NYSE:DD traded up $1.15 during trading hours on Friday, reaching $80.18. 3,004,481 shares of the company’s stock were exchanged, compared to its average volume of 1,685,700. DuPont de Nemours, Inc. has a 1-year low of $61.14 and a 1-year high of $82.63. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $33.52 billion, a price-to-earnings ratio of 97.78, a P/E/G ratio of 2.47 and a beta of 1.34. The company has a 50-day moving average of $80.21 and a 200 day moving average of $75.23.

DuPont de Nemours (NYSE:DD) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.14. DuPont de Nemours had a return on equity of 6.07% and a net margin of 2.75%. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. Research analysts anticipate that DuPont de Nemours, Inc. will post 3.63 EPS for the current year.

DuPont de Nemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.90%. The ex-dividend date is Friday, August 30th. DuPont de Nemours’s payout ratio is 185.37%.

Insider Transactions at DuPont de Nemours

In other DuPont de Nemours news, insider Michael G. Goss sold 1,339 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $78.33, for a total value of $104,883.87. Following the completion of the sale, the insider now owns 14,012 shares of the company’s stock, valued at $1,097,559.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other DuPont de Nemours news, insider Michael G. Goss sold 1,339 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $78.33, for a total transaction of $104,883.87. Following the transaction, the insider now directly owns 14,012 shares in the company, valued at $1,097,559.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Leland Weaver sold 18,500 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $78.40, for a total value of $1,450,400.00. Following the sale, the insider now directly owns 24,476 shares in the company, valued at approximately $1,918,918.40. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

DuPont de Nemours Company Profile

DuPont de Nemours, Inc provides technology-based materials and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through Electronics & Industrial, Water & Protection, and Corporate & Other segments. The Electronics & Industrial segment supplies materials and solutions for the fabrication of semiconductors and integrated circuits.