Primecap Management Co. CA Cuts Stock Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Primecap Management Co. CA cut its stake in DuPont de Nemours, Inc. (NYSE:DD) by 1.0% in the second quarter, HoldingsChannel reports. The firm owned 2,675,163 shares of the basic materials company’s stock after selling 26,387 shares during the quarter. Primecap Management Co. CA’s holdings in DuPont de Nemours were worth $215,324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board acquired a new position in shares of DuPont de Nemours during the fourth quarter worth $797,000. Mediolanum International Funds Ltd purchased a new position in shares of DuPont de Nemours in the 1st quarter valued at about $2,842,000. Red Mountain Financial LLC purchased a new position in shares of DuPont de Nemours in the 4th quarter valued at about $980,000. CIBC Private Wealth Group LLC raised its position in shares of DuPont de Nemours by 6.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 15,575 shares of the basic materials company’s stock worth $1,198,000 after acquiring an additional 982 shares in the last quarter. Finally, Beacon Financial Group purchased a new stake in DuPont de Nemours during the fourth quarter worth approximately $2,310,000. 73.96% of the stock is owned by institutional investors and hedge funds.

DuPont de Nemours Trading Up 0.7 %

Shares of DD stock opened at $82.00 on Tuesday. The company has a market capitalization of $34.28 billion, a P/E ratio of 100.00, a price-to-earnings-growth ratio of 2.12 and a beta of 1.33. The company has a current ratio of 2.21, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $80.47 and its two-hundred day moving average is $78.28. DuPont de Nemours, Inc. has a twelve month low of $61.14 and a twelve month high of $85.12.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.12. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.05 billion. DuPont de Nemours had a net margin of 5.30% and a return on equity of 6.31%. DuPont de Nemours’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. Equities analysts forecast that DuPont de Nemours, Inc. will post 3.74 EPS for the current year.

DuPont de Nemours Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 1.85%. DuPont de Nemours’s payout ratio is currently 185.37%.

Analysts Set New Price Targets

A number of analysts have weighed in on DD shares. 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 report on Thursday, August 1st. BMO Capital Markets raised shares of DuPont de Nemours from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $83.00 to $96.00 in a research report on Thursday, May 23rd. Citigroup dropped their price objective on DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Mizuho boosted their target price on DuPont de Nemours from $83.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, Royal Bank of Canada raised 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company 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.