Pinnacle West Asset Management Inc. Sells 261 Shares of DuPont de Nemours, Inc. $DD

Pinnacle West Asset Management Inc. cut its holdings in shares of DuPont de Nemours, Inc. (NYSE:DD) by 7.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,070 shares of the basic materials company’s stock after selling 261 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in DuPont de Nemours were worth $211,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JNBA Financial Advisors lifted its position in DuPont de Nemours by 132.5% during the 1st quarter. JNBA Financial Advisors now owns 379 shares of the basic materials company’s stock worth $28,000 after buying an additional 216 shares in the last quarter. Valley National Advisers Inc. raised its holdings in shares of DuPont de Nemours by 145.0% in the 1st quarter. Valley National Advisers Inc. now owns 419 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 248 shares during the period. WPG Advisers LLC bought a new stake in shares of DuPont de Nemours in the 1st quarter valued at about $35,000. Ransom Advisory Ltd bought a new stake in shares of DuPont de Nemours in the 1st quarter valued at about $40,000. Finally, REAP Financial Group LLC raised its holdings in shares of DuPont de Nemours by 80.1% in the 2nd quarter. REAP Financial Group LLC now owns 605 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 269 shares during the period. 73.96% of the stock is owned by institutional investors.

Insider Activity

In other DuPont de Nemours news, SVP Steven P. Larrabee sold 43,208 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $77.17, for a total transaction of $3,334,361.36. Following the transaction, the senior vice president owned 38,585 shares in the company, valued at $2,977,604.45. This represents a 52.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 74,208 shares of company stock worth $5,714,861. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of DuPont de Nemours from $87.00 to $89.00 and gave the company a “buy” rating in a report on Monday, July 21st. KeyCorp upped their target price on shares of DuPont de Nemours from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. Mizuho upped their target price on shares of DuPont de Nemours from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Wells Fargo & Company upped their target price on shares of DuPont de Nemours from $81.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Finally, BMO Capital Markets dropped their target price on shares of DuPont de Nemours from $107.00 to $104.00 and set an “outperform” rating on the stock in a report on Friday, September 19th. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, DuPont de Nemours presently has a consensus rating of “Moderate Buy” and an average target price of $88.33.

DuPont de Nemours Stock Down 5.2%

DuPont de Nemours stock opened at $73.82 on Friday. The stock has a market cap of $30.91 billion, a P/E ratio of -157.06, a P/E/G ratio of 2.25 and a beta of 1.08. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.23. DuPont de Nemours, Inc. has a twelve month low of $53.77 and a twelve month high of $87.80. The company’s 50-day moving average price is $76.02 and its two-hundred day moving average price is $71.06.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings results on Monday, July 11th. The basic materials company reported $0.69 earnings per share for the quarter. The firm had revenue of $3.02 billion for the quarter. DuPont de Nemours had a negative net margin of 1.54% and a positive return on equity of 7.85%. As a group, analysts expect that DuPont de Nemours, Inc. will post 4.38 EPS for the current year.

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.