Clearbridge Investments LLC Reduces Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Clearbridge Investments LLC cut its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 37.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,440 shares of the basic materials company’s stock after selling 18,754 shares during the quarter. Clearbridge Investments LLC’s holdings in DuPont de Nemours were worth $2,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its position in shares of DuPont de Nemours by 3.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 338,233 shares of the basic materials company’s stock worth $25,932,000 after acquiring an additional 12,611 shares in the last quarter. Penobscot Investment Management Company Inc. boosted its stake in shares of DuPont de Nemours by 1.2% in the 1st quarter. Penobscot Investment Management Company Inc. now owns 13,094 shares of the basic materials company’s stock worth $1,004,000 after buying an additional 150 shares during the last quarter. Bahl & Gaynor Inc. boosted its stake in shares of DuPont de Nemours by 8.7% in the 1st quarter. Bahl & Gaynor Inc. now owns 4,265 shares of the basic materials company’s stock worth $327,000 after buying an additional 342 shares during the last quarter. Davis R M Inc. boosted its stake in shares of DuPont de Nemours by 3.3% in the 1st quarter. Davis R M Inc. now owns 7,335 shares of the basic materials company’s stock worth $562,000 after buying an additional 237 shares during the last quarter. Finally, ESL Trust Services LLC purchased a new position in shares of DuPont de Nemours in the 1st quarter worth $26,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Stock Performance

DD traded down $0.22 during midday trading on Thursday, hitting $79.37. 61,393 shares of the company were exchanged, compared to its average volume of 2,757,571. The company’s 50 day simple moving average is $80.18 and its 200 day simple moving average is $75.19. The firm has a market capitalization of $33.18 billion, a price-to-earnings ratio of 97.06, a price-to-earnings-growth ratio of 2.50 and a beta of 1.34. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.32. DuPont de Nemours, Inc. has a 1-year low of $61.14 and a 1-year high of $82.63.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.14. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.81 billion. DuPont de Nemours had a return on equity of 6.07% and a net margin of 2.75%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the firm earned $0.84 EPS. As a group, sell-side analysts predict that DuPont de Nemours, Inc. will post 3.63 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. Stockholders of record on Friday, August 30th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, August 30th. DuPont de Nemours’s payout ratio is currently 185.37%.

Insider Transactions at DuPont de Nemours

In related news, insider Michael G. Goss sold 1,339 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $78.33, for a total value of $104,883.87. Following the transaction, the insider now directly owns 14,012 shares of the company’s stock, valued at approximately $1,097,559.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Michael G. Goss sold 1,339 shares of DuPont de Nemours stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $78.33, for a total value of $104,883.87. Following the completion of the sale, the insider now owns 14,012 shares in the company, valued at approximately $1,097,559.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leland Weaver sold 18,500 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $78.40, for a total transaction of $1,450,400.00. Following the completion of the transaction, the insider now directly owns 24,476 shares of the company’s stock, valued at approximately $1,918,918.40. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DD shares. UBS Group raised their price target on DuPont de Nemours from $93.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Citigroup dropped their price target on DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. BMO Capital Markets upgraded DuPont de Nemours from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $83.00 to $96.00 in a research report on Thursday, May 23rd. Barclays lifted their target price on DuPont de Nemours from $81.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 28th. Finally, Jefferies Financial Group upgraded DuPont de Nemours from a “hold” rating to a “buy” rating and lifted their target price for the company from $78.00 to $101.00 in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.00.

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.