Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of DuPont de Nemours, Inc. (NYSE:DD – Get Rating) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,427,123 shares of the basic materials company’s stock after selling 94,375 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of DuPont de Nemours worth $115,283,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. WealthPLAN Partners LLC increased its stake in DuPont de Nemours by 3.9% in the fourth quarter. WealthPLAN Partners LLC now owns 3,477 shares of the basic materials company’s stock valued at $266,000 after acquiring an additional 129 shares during the period. Cordasco Financial Network lifted its holdings in DuPont de Nemours by 2.8% in the third quarter. Cordasco Financial Network now owns 4,784 shares of the basic materials company’s stock valued at $325,000 after buying an additional 130 shares during the period. Mount Yale Investment Advisors LLC lifted its holdings in DuPont de Nemours by 1.8% in the third quarter. Mount Yale Investment Advisors LLC now owns 7,700 shares of the basic materials company’s stock valued at $524,000 after buying an additional 139 shares during the period. Quadrant Capital Group LLC lifted its holdings in DuPont de Nemours by 3.0% in the fourth quarter. Quadrant Capital Group LLC now owns 4,768 shares of the basic materials company’s stock valued at $385,000 after buying an additional 140 shares during the period. Finally, Laird Norton Trust Company LLC lifted its holdings in DuPont de Nemours by 4.9% in the third quarter. Laird Norton Trust Company LLC now owns 3,064 shares of the basic materials company’s stock valued at $208,000 after buying an additional 142 shares during the period. Institutional investors and hedge funds own 69.32% of the company’s stock.
In other DuPont de Nemours news, insider Leland Weaver sold 2,183 shares of the stock in a transaction on Thursday, January 13th. The stock was sold at an average price of $84.00, for a total value of $183,372.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.
DuPont de Nemours (NYSE:DD – Get Rating) last released its earnings results on Tuesday, February 8th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.07. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.02 billion. DuPont de Nemours had a net margin of 38.83% and a return on equity of 8.29%. The firm’s quarterly revenue was down 17.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 EPS. On average, sell-side analysts predict that DuPont de Nemours, Inc. will post 3.39 earnings per share for the current fiscal year.
DuPont de Nemours declared that its board has initiated a stock repurchase plan on Tuesday, February 8th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Monday, February 28th were given a $0.33 dividend. The ex-dividend date was Friday, February 25th. This is an increase from DuPont de Nemours’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.92%. DuPont de Nemours’s dividend payout ratio (DPR) is currently 12.07%.
A number of research analysts recently weighed in on the stock. Citigroup decreased their target price on shares of DuPont de Nemours from $98.00 to $96.00 and set a “buy” rating for the company in a research report on Wednesday, February 9th. KeyCorp reduced their target price on shares of DuPont de Nemours from $99.00 to $96.00 and set an “overweight” rating for the company in a report on Tuesday, April 5th. Credit Suisse Group boosted their price objective on shares of DuPont de Nemours from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, February 9th. Bank of America boosted their price objective on shares of DuPont de Nemours from $93.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, February 9th. Finally, Barclays upped their price target on shares of DuPont de Nemours from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 9th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $94.82.
DuPont de Nemours Company Profile (Get Rating)
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 three segments: Electronics & Industrial, Mobility & Materials, and Water & Protection. The Electronics & Industrial segment supplies 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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