ARK Investment Management LLC Lowers Stake in DuPont de Nemours, Inc. (NYSE:DD)

ARK Investment Management LLC reduced its position in DuPont de Nemours, Inc. (NYSE:DD) by 26.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,871 shares of the basic materials company’s stock after selling 682 shares during the quarter. ARK Investment Management LLC’s holdings in DuPont de Nemours were worth $144,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Peoples Bank KS bought a new position in DuPont de Nemours in the third quarter worth about $25,000. Cornerstone Planning Group LLC bought a new position in DuPont de Nemours in the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new position in DuPont de Nemours in the first quarter worth about $26,000. Carmel Capital Partners LLC bought a new position in DuPont de Nemours in the third quarter worth about $36,000. Finally, Indiana Trust & Investment Management CO bought a new position in DuPont de Nemours in the third quarter worth about $38,000. 73.96% of the stock is currently owned by institutional investors.

DuPont de Nemours Stock Up 1.3 %

Shares of NYSE:DD opened at $76.53 on Thursday. The company has a quick ratio of 1.73, a current ratio of 2.43 and a debt-to-equity ratio of 0.32. DuPont de Nemours, Inc. has a 52-week low of $61.14 and a 52-week high of $78.74. The stock’s fifty day simple moving average is $69.61 and its 200-day simple moving average is $71.96. The company has a market capitalization of $31.96 billion, a P/E ratio of 82.29, a P/E/G ratio of 2.52 and a beta of 1.39.

DuPont de Nemours (NYSE:DD) last released its earnings results on Tuesday, February 6th. The basic materials company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. DuPont de Nemours had a return on equity of 6.12% and a net margin of 3.51%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the business posted $0.89 earnings per share. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities research analysts forecast that DuPont de Nemours, Inc. will post 3.44 earnings per share for the current fiscal year.

DuPont de Nemours Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.38 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.99%. This is a positive change from DuPont de Nemours’s previous quarterly dividend of $0.36. DuPont de Nemours’s dividend payout ratio (DPR) is 163.44%.

Insider Activity

In other news, insider Michael G. Goss sold 2,354 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $72.80, for a total value of $171,371.20. Following the completion of the sale, the insider now owns 15,587 shares in the company, valued at $1,134,733.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on DuPont de Nemours from $76.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Royal Bank of Canada boosted their price target on DuPont de Nemours from $75.00 to $83.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. TheStreet lowered DuPont de Nemours from a “b-” rating to a “c” rating in a research report on Tuesday, February 6th. Bank of America lowered DuPont de Nemours from a “buy” rating to an “underperform” rating and upped their target price for the company from $78.00 to $80.00 in a research report on Tuesday, January 16th. Finally, Wells Fargo & Company lowered DuPont de Nemours from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $85.00 to $69.00 in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, DuPont de Nemours currently has an average rating of “Hold” and an average target price of $76.60.

About DuPont de Nemours

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.