Welch Group LLC Has $13,732,000 Stake in DuPont Co. (DD)
Welch Group LLC lowered its position in DuPont Co. (NYSE:DD) by 20.7% during the second quarter, Holdings Channel reports. The firm owned 211,918 shares of the company’s stock after selling 55,209 shares during the period. DuPont accounts for about 2.8% of Welch Group LLC’s investment portfolio, making the stock its 26th largest position. Welch Group LLC’s holdings in DuPont were worth $13,732,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its stake in DuPont by 1.1% in the first quarter. State Street Corp now owns 39,212,995 shares of the company’s stock worth $2,482,973,000 after buying an additional 423,988 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in DuPont by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 22,885,023 shares of the company’s stock worth $1,449,080,000 after buying an additional 66,784 shares in the last quarter. Trian Fund Management L.P. increased its stake in DuPont by 1.3% in the first quarter. Trian Fund Management L.P. now owns 20,485,262 shares of the company’s stock worth $1,297,127,000 after buying an additional 261,187 shares in the last quarter. Geode Capital Management LLC increased its stake in DuPont by 2.1% in the first quarter. Geode Capital Management LLC now owns 7,237,054 shares of the company’s stock worth $457,342,000 after buying an additional 149,132 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in DuPont by 5.2% in the first quarter. BlackRock Group LTD now owns 6,990,264 shares of the company’s stock worth $442,624,000 after buying an additional 348,447 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.
DuPont Co. (NYSE:DD) traded down 1.42% during trading on Tuesday, hitting $66.88. 2,923,153 shares of the stock were exchanged. DuPont Co. has a 12-month low of $50.71 and a 12-month high of $75.72. The firm has a market cap of $58.47 billion, a PE ratio of 26.60 and a beta of 1.78. The stock’s 50-day moving average price is $68.47 and its 200-day moving average price is $66.63.
DuPont (NYSE:DD) last released its earnings results on Tuesday, July 26th. The company reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.14. The firm had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $7.01 billion. DuPont had a net margin of 9.01% and a return on equity of 24.59%. DuPont’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the company earned $1.18 EPS. On average, equities analysts expect that DuPont Co. will post $3.19 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Monday, August 15th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.52 annualized dividend and a yield of 2.27%. DuPont’s payout ratio is 60.32%.
A number of research firms recently commented on DD. Barclays PLC boosted their price objective on shares of DuPont from $67.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 27th. Vetr raised shares of DuPont from a “strong sell” rating to a “sell” rating and set a $64.60 price objective on the stock in a report on Tuesday, July 26th. TheStreet downgraded shares of DuPont from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Deutsche Bank AG boosted their price objective on shares of DuPont from $55.00 to $56.00 and gave the stock a “sell” rating in a report on Friday, August 12th. Finally, Macquarie set a $71.00 price objective on shares of DuPont and gave the stock a “neutral” rating in a report on Thursday, July 21st. Four analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $69.51.
In other DuPont news, EVP Christopher Marc Doyle sold 5,422 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $69.53, for a total transaction of $376,991.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Benito Cachinero sold 58,958 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $70.36, for a total transaction of $4,148,284.88. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
DuPont Company Profile
E. I. du Pont de Nemours and Company (DuPont) is a science and technology-based company. The Company consists of over 10 businesses aggregated into six segments: Agriculture, Electronics & Communications, Industrial Biosciences, Nutrition & Health, Performance Materials and Safety & Protection. Its products include corn hybrids and soybean varieties, herbicides, fungicides and insecticides in Agriculture segment; photopolymers and electronic materials in Electronics & Communications segment; enzymes and bio-based materials in Industrial Biosciences segment; cultures, emulsifiers, texturants, natural sweeteners and soy-based food ingredients in Nutrition & Health segment; engineering polymers, packaging and industrial polymers, films and elastomers in Performance Materials segment, and nonwovens, aramids and solid surfaces in Safety & Protection segment.
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