Carnegie Investment Counsel Lowers Stock Position in DuPont de Nemours, Inc. (NYSE:DD)

Carnegie Investment Counsel cut its holdings in DuPont de Nemours, Inc. (NYSE:DD) by 9.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,826 shares of the basic materials company’s stock after selling 489 shares during the quarter. Carnegie Investment Counsel’s holdings in DuPont de Nemours were worth $388,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in DD. abrdn plc grew its position in shares of DuPont de Nemours by 30.9% in the fourth quarter. abrdn plc now owns 404,803 shares of the basic materials company’s stock valued at $31,141,000 after purchasing an additional 95,505 shares during the period. Ontario Teachers Pension Plan Board purchased a new stake in shares of DuPont de Nemours in the fourth quarter valued at about $797,000. Red Mountain Financial LLC acquired a new stake in DuPont de Nemours during the fourth quarter worth about $980,000. Mediolanum International Funds Ltd purchased a new position in DuPont de Nemours during the first quarter worth about $2,842,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in DuPont de Nemours by 6.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 15,575 shares of the basic materials company’s stock valued at $1,198,000 after purchasing an additional 982 shares during the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

DuPont de Nemours Stock Performance

NYSE DD traded up $0.99 during trading hours on Wednesday, hitting $80.25. 185,735 shares of the stock were exchanged, compared to its average volume of 2,687,937. The stock has a 50-day moving average of $79.91 and a 200 day moving average of $76.48. DuPont de Nemours, Inc. has a 12-month low of $61.14 and a 12-month high of $85.12. The company has a market cap of $33.55 billion, a price-to-earnings ratio of 96.66, a price-to-earnings-growth ratio of 2.54 and a beta of 1.34. The company has a quick ratio of 1.61, a current ratio of 2.21 and a debt-to-equity ratio of 0.30.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.85 by $0.12. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the company earned $0.85 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts forecast that DuPont de Nemours, Inc. will post 3.69 earnings per share for the current year.

DuPont de Nemours Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 1.89%. DuPont de Nemours’s dividend payout ratio is currently 185.37%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of DuPont de Nemours from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Barclays increased their price target on DuPont de Nemours from $81.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Jefferies Financial Group upgraded DuPont de Nemours from a “hold” rating to a “buy” rating and raised their target price for the company from $78.00 to $101.00 in a report on Friday, May 17th. Finally, BMO Capital Markets upgraded shares of DuPont de Nemours from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $83.00 to $96.00 in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

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.