Bridges Investment Management Inc. Trims Stock Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Bridges Investment Management Inc. reduced its position in shares of DuPont de Nemours, Inc. (NYSE:DD) by 19.4% in the first quarter, Holdings Channel reports. The firm owned 4,802 shares of the basic materials company’s stock after selling 1,153 shares during the quarter. Bridges Investment Management Inc.’s holdings in DuPont de Nemours were worth $372,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DD. Pendal Group Limited raised its position in shares of DuPont de Nemours by 28.6% during the 4th quarter. Pendal Group Limited now owns 26,334 shares of the basic materials company’s stock valued at $1,873,000 after purchasing an additional 5,854 shares during the period. Hoey Investments Inc. purchased a new position in DuPont de Nemours during the fourth quarter worth $469,000. JustInvest LLC lifted its stake in DuPont de Nemours by 8.0% in the fourth quarter. JustInvest LLC now owns 4,917 shares of the basic materials company’s stock worth $350,000 after purchasing an additional 365 shares during the last quarter. Abbrea Capital LLC boosted its holdings in DuPont de Nemours by 10.6% during the 4th quarter. Abbrea Capital LLC now owns 5,863 shares of the basic materials company’s stock valued at $417,000 after acquiring an additional 560 shares during the period. Finally, DNB Asset Management AS boosted its stake in shares of DuPont de Nemours by 8.4% during the fourth quarter. DNB Asset Management AS now owns 149,455 shares of the basic materials company’s stock valued at $10,628,000 after purchasing an additional 11,628 shares during the period. 75.48% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on DD. Argus lifted their price objective on shares of DuPont de Nemours from $81.00 to $93.00 and gave the company a “buy” rating in a report on Friday. KeyCorp upped their price objective on DuPont de Nemours from $87.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 11th. The Goldman Sachs Group raised shares of DuPont de Nemours from a “neutral” rating to a “buy” rating and set a $102.00 price objective on the stock in a research report on Monday. Susquehanna lowered shares of DuPont de Nemours from a “positive” rating to a “neutral” rating and boosted their price objective for the stock from $60.00 to $90.00 in a research note on Wednesday, January 27th. Finally, Wells Fargo & Company raised their target price on shares of DuPont de Nemours from $90.00 to $95.00 in a research note on Wednesday, May 5th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $80.47.

Shares of DuPont de Nemours stock opened at $85.30 on Tuesday. The firm has a market cap of $62.60 billion, a P/E ratio of -20.96, a price-to-earnings-growth ratio of 5.52 and a beta of 1.60. DuPont de Nemours, Inc. has a 1 year low of $66.02 and a 1 year high of $86.36. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.80 and a quick ratio of 1.25.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings data on Tuesday, May 4th. The basic materials company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.15. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.82 billion. DuPont de Nemours had a positive return on equity of 6.30% and a negative net margin of 14.73%. The business’s quarterly revenue was down 23.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. As a group, equities analysts anticipate that DuPont de Nemours, Inc. will post 3.2 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Friday, May 28th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.05%. The ex-dividend date is Thursday, May 27th. DuPont de Nemours’s payout ratio is currently 31.58%.

DuPont de Nemours announced that its board has initiated a share repurchase plan on Monday, March 8th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 2.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

In other DuPont de Nemours news, SVP Raj Ratnakar sold 11,408 shares of the stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $82.80, for a total transaction of $944,582.40. Following the transaction, the senior vice president now owns 11,896 shares in the company, valued at $984,988.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by company insiders.

About DuPont de Nemours

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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Institutional Ownership by Quarter for DuPont de Nemours (NYSE:DD)

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