Mid Atlantic Financial Management Inc. ADV reduced its holdings in shares of DuPont de Nemours, Inc. (NYSE:DD) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,357 shares of the basic materials company’s stock after selling 131 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in DuPont de Nemours were worth $723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Charter Oak Capital Management LLC bought a new position in shares of DuPont de Nemours during the fourth quarter valued at $25,000. Lederer & Associates Investment Counsel CA bought a new position in shares of DuPont de Nemours during the first quarter valued at $26,000. Lenox Wealth Advisors LLC lifted its holdings in DuPont de Nemours by 69.0% in the first quarter. Lenox Wealth Advisors LLC now owns 338 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 138 shares during the period. Close Asset Management Ltd bought a new position in DuPont de Nemours in the first quarter valued at about $29,000. Finally, ADE LLC bought a new position in DuPont de Nemours in the fourth quarter valued at about $31,000. 70.54% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on DD. KeyCorp increased their target price on DuPont de Nemours from $87.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, May 11th. Deutsche Bank Aktiengesellschaft increased their target price on DuPont de Nemours from $88.00 to $92.00 in a report on Wednesday, May 5th. Bank of America downgraded DuPont de Nemours from a “buy” rating to a “neutral” rating in a report on Tuesday, February 16th. Barclays assumed coverage on DuPont de Nemours in a report on Monday, March 22nd. They issued an “equal weight” rating and a $84.00 target price on the stock. Finally, The Goldman Sachs Group raised DuPont de Nemours from a “neutral” rating to a “buy” rating and set a $102.00 price objective on the stock in a research note on Monday, May 17th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $82.71.
NYSE:DD opened at $82.81 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.77. DuPont de Nemours, Inc. has a 12-month low of $49.01 and a 12-month high of $87.27. The stock’s 50-day simple moving average is $80.60. The stock has a market capitalization of $44.07 billion, a PE ratio of 14.48, a P/E/G ratio of 2.48 and a beta of 1.53.
DuPont de Nemours (NYSE:DD) last released its earnings results on Tuesday, May 4th. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.15. DuPont de Nemours had a return on equity of 6.76% and a net margin of 15.97%. The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter last year, the business posted $0.84 earnings per share. The firm’s revenue was down 23.8% on a year-over-year basis. Research analysts predict that DuPont de Nemours, Inc. will post 3.76 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Friday, May 28th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, May 27th. DuPont de Nemours’s dividend payout ratio is currently 35.71%.
DuPont de Nemours declared that its board has authorized a stock repurchase plan on Monday, March 8th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the basic materials company to buy up to 2.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
DuPont de Nemours Profile
DuPont de Nemours, Inc provides technology-based materials, ingredients, and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. The company's Electronics & Imaging segment supplies materials to manufacture photovoltaics and solar cells; materials and printing systems to the advanced printing industry; and materials and solutions for the fabrication of semiconductors and integrated circuits addressing front-end and back-end of the manufacturing process.
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