Meridian Investment Counsel Inc. Sells 670 Shares of DuPont de Nemours, Inc. (NYSE:DD)

Meridian Investment Counsel Inc. cut its holdings in DuPont de Nemours, Inc. (NYSE:DD) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,290 shares of the basic materials company’s stock after selling 670 shares during the period. DuPont de Nemours accounts for 1.0% of Meridian Investment Counsel Inc.’s holdings, making the stock its 24th biggest holding. Meridian Investment Counsel Inc.’s holdings in DuPont de Nemours were worth $3,243,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in DuPont de Nemours by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 48,045,648 shares of the basic materials company’s stock valued at $3,696,152,000 after buying an additional 3,168,740 shares in the last quarter. Norges Bank purchased a new position in shares of DuPont de Nemours in the fourth quarter valued at $111,980,000. Jacobs Levy Equity Management Inc. increased its position in DuPont de Nemours by 403.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,421,685 shares of the basic materials company’s stock worth $109,001,000 after purchasing an additional 1,139,156 shares during the last quarter. Great Lakes Advisors LLC lifted its position in DuPont de Nemours by 156.6% during the fourth quarter. Great Lakes Advisors LLC now owns 737,964 shares of the basic materials company’s stock valued at $56,772,000 after purchasing an additional 450,422 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of DuPont de Nemours by 34.0% in the 1st 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.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DD. UBS Group upped their target price on shares of DuPont de Nemours from $93.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Royal Bank of Canada raised their price objective on DuPont de Nemours from $87.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Mizuho boosted their target price on DuPont de Nemours from $83.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft raised their price target on DuPont de Nemours from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company upgraded shares of DuPont de Nemours from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $80.00 to $103.00 in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

DuPont de Nemours Stock Down 0.1 %

NYSE DD traded down $0.09 on Monday, reaching $80.09. 869,720 shares of the stock traded hands, compared to its average volume of 2,706,962. DuPont de Nemours, Inc. has a 12 month low of $61.14 and a 12 month high of $85.12. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.61 and a current ratio of 2.21. The company has a fifty day moving average price of $79.91 and a 200-day moving average price of $76.23. The company has a market cap of $33.49 billion, a price-to-earnings ratio of 97.71, a PEG ratio of 2.54 and a beta of 1.34.

DuPont de Nemours (NYSE:DD) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the prior year, the business earned $0.85 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, research analysts forecast that DuPont de Nemours, Inc. will post 3.69 EPS for the current fiscal year.

DuPont de Nemours Dividend Announcement

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

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.