Stonegate Investment Group LLC Lowers Stock Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Stonegate Investment Group LLC trimmed its position in shares of DuPont de Nemours, Inc. (NYSE:DD) by 6.3% in the first quarter, HoldingsChannel.com reports. The fund owned 6,636 shares of the basic materials company’s stock after selling 449 shares during the period. Stonegate Investment Group LLC’s holdings in DuPont de Nemours were worth $496,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ritholtz Wealth Management boosted its stake in shares of DuPont de Nemours by 48.8% in the 1st quarter. Ritholtz Wealth Management now owns 4,462 shares of the basic materials company’s stock valued at $333,000 after buying an additional 1,464 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of DuPont de Nemours in the 4th quarter valued at about $1,343,000. Grandfield & Dodd LLC boosted its stake in shares of DuPont de Nemours by 72.0% in the 4th quarter. Grandfield & Dodd LLC now owns 7,538 shares of the basic materials company’s stock valued at $575,000 after buying an additional 3,155 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of DuPont de Nemours by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,868,586 shares of the basic materials company’s stock valued at $218,730,000 after buying an additional 91,108 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in shares of DuPont de Nemours by 7.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 65,616 shares of the basic materials company’s stock valued at $5,003,000 after buying an additional 4,288 shares during the period. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DD has been the subject of several recent research reports. Citigroup decreased their price objective on DuPont de Nemours from $95.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Bank of America upgraded DuPont de Nemours from an “underperform” rating to a “neutral” rating and decreased their price objective for the company from $80.00 to $75.00 in a research note on Tuesday, April 15th. KeyCorp lifted their price objective on DuPont de Nemours from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. lifted their price objective on DuPont de Nemours from $78.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Finally, Morgan Stanley cut their target price on DuPont de Nemours from $94.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, May 5th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.92.

DuPont de Nemours Trading Down 1.0%

DD opened at $66.22 on Friday. The firm has a market cap of $27.71 billion, a price-to-earnings ratio of -348.55, a price-to-earnings-growth ratio of 1.88 and a beta of 1.05. DuPont de Nemours, Inc. has a 52 week low of $53.77 and a 52 week high of $90.06. The business’s 50 day moving average is $66.44 and its two-hundred day moving average is $72.82. The company has a quick ratio of 0.91, a current ratio of 1.40 and a debt-to-equity ratio of 0.23.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings results on Friday, May 2nd. The basic materials company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.95 by $0.08. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.05 billion. DuPont de Nemours had a positive return on equity of 7.58% and a negative net margin of 0.60%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 earnings per share. On average, research analysts predict that DuPont de Nemours, Inc. will post 4.38 EPS for the current year.

DuPont de Nemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.48%. The ex-dividend date was Friday, May 30th. DuPont de Nemours’s dividend payout ratio (DPR) is -863.16%.

DuPont de Nemours Profile

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.