Tevis Investment Management Decreases Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Tevis Investment Management reduced its holdings in shares of DuPont de Nemours, Inc. (NYSE:DD) by 18.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 23,316 shares of the basic materials company’s stock after selling 5,239 shares during the quarter. DuPont de Nemours accounts for approximately 1.5% of Tevis Investment Management’s investment portfolio, making the stock its 19th biggest holding. Tevis Investment Management’s holdings in DuPont de Nemours were worth $2,078,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Mediolanum International Funds Ltd acquired a new stake in shares of DuPont de Nemours during the first quarter worth about $2,842,000. Sequoia Financial Advisors LLC increased its position in DuPont de Nemours by 236.8% during the second quarter. Sequoia Financial Advisors LLC now owns 40,612 shares of the basic materials company’s stock worth $3,269,000 after buying an additional 28,553 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in DuPont de Nemours by 9.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 598,483 shares of the basic materials company’s stock valued at $42,953,000 after buying an additional 53,694 shares during the last quarter. Canandaigua National Bank & Trust Co. acquired a new stake in shares of DuPont de Nemours in the second quarter valued at approximately $1,610,000. Finally, Cetera Investment Advisers grew its position in shares of DuPont de Nemours by 186.5% during the first quarter. Cetera Investment Advisers now owns 87,364 shares of the basic materials company’s stock worth $6,698,000 after acquiring an additional 56,870 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Stock Performance

NYSE:DD opened at $83.27 on Thursday. The firm’s fifty day simple moving average is $84.07 and its 200-day simple moving average is $80.76. The company has a quick ratio of 1.44, a current ratio of 2.21 and a debt-to-equity ratio of 0.30. The stock has a market cap of $34.78 billion, a PE ratio of 54.78, a price-to-earnings-growth ratio of 2.26 and a beta of 1.34. DuPont de Nemours, Inc. has a fifty-two week low of $61.14 and a fifty-two week high of $90.06.

DuPont de Nemours (NYSE:DD) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share 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 analyst estimates of $3.05 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts expect that DuPont de Nemours, Inc. will post 3.76 earnings per share for the current fiscal year.

DuPont de Nemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.83%. The ex-dividend date is Friday, November 29th. DuPont de Nemours’s payout ratio is currently 100.00%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of DuPont de Nemours from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays cut DuPont de Nemours from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $88.00 to $84.00 in a research report on Monday, October 7th. Morgan Stanley upped their price objective on DuPont de Nemours from $88.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Citigroup lowered their target price 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. Finally, Royal Bank of Canada upped their price target on DuPont de Nemours from $87.00 to $102.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, DuPont de Nemours presently has an average rating of “Moderate Buy” and an average target price of $94.83.

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.