Pinnacle Associates Ltd. Sells 2,178 Shares of DuPont de Nemours, Inc. (NYSE:DD)

Pinnacle Associates Ltd. reduced its stake in DuPont de Nemours, Inc. (NYSE:DD) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,695 shares of the basic materials company’s stock after selling 2,178 shares during the period. Pinnacle Associates Ltd.’s holdings in DuPont de Nemours were worth $4,402,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in DuPont de Nemours by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 48,045,648 shares of the basic materials company’s stock worth $3,696,152,000 after purchasing an additional 3,168,740 shares during the last quarter. Putnam Investments LLC lifted its stake in DuPont de Nemours by 3.2% during the fourth quarter. Putnam Investments LLC now owns 5,196,730 shares of the basic materials company’s stock worth $399,784,000 after purchasing an additional 159,438 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in DuPont de Nemours by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,602,213 shares of the basic materials company’s stock worth $200,192,000 after purchasing an additional 101,203 shares during the last quarter. Mondrian Investment Partners LTD lifted its stake in DuPont de Nemours by 9.5% during the first quarter. Mondrian Investment Partners LTD now owns 1,799,860 shares of the basic materials company’s stock worth $137,995,000 after purchasing an additional 156,339 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of DuPont de Nemours by 34.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,542,045 shares of the basic materials company’s stock worth $118,229,000 after buying an additional 391,400 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors.

DuPont de Nemours Stock Up 1.5 %

Shares of DD stock traded up $1.20 on Friday, reaching $84.25. 3,555,079 shares of the company were exchanged, compared to its average volume of 2,665,181. The company has a market cap of $35.23 billion, a price-to-earnings ratio of 102.74, a PEG ratio of 2.54 and a beta of 1.34. The company has a 50-day moving average of $80.19 and a 200-day moving average of $77.21. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 1.61. DuPont de Nemours, Inc. has a one year low of $61.14 and a one year high of $85.12.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.12. DuPont de Nemours had a net margin of 5.30% and a return on equity of 6.31%. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter last year, the firm earned $0.85 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts anticipate that DuPont de Nemours, Inc. will post 3.69 earnings per share for the current year.

DuPont de Nemours Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 1.80%. DuPont de Nemours’s dividend payout ratio is currently 185.37%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on DD shares. Barclays upped their price target on shares of DuPont de Nemours from $81.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft increased their price objective on DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, August 1st. UBS Group increased their price objective on DuPont de Nemours from $93.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Royal Bank of Canada increased their price objective on DuPont de Nemours from $87.00 to $102.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company upgraded DuPont de Nemours from an “equal weight” rating to an “overweight” rating and increased their price objective 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, three have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

DuPont de Nemours 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.