Thrivent Financial for Lutherans Sells 326,876 Shares of DuPont de Nemours, Inc. $DD

Thrivent Financial for Lutherans lessened its holdings in shares of DuPont de Nemours, Inc. (NYSE:DD) by 72.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,903 shares of the basic materials company’s stock after selling 326,876 shares during the quarter. Thrivent Financial for Lutherans’ holdings in DuPont de Nemours were worth $9,575,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in DD. Salomon & Ludwin LLC increased its position in shares of DuPont de Nemours by 186.5% during the third quarter. Salomon & Ludwin LLC now owns 318 shares of the basic materials company’s stock valued at $25,000 after buying an additional 207 shares during the period. Princeton Global Asset Management LLC grew its holdings in shares of DuPont de Nemours by 64.4% during the 2nd quarter. Princeton Global Asset Management LLC now owns 365 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 143 shares during the period. Crews Bank & Trust raised its position in shares of DuPont de Nemours by 55.8% in the 3rd quarter. Crews Bank & Trust now owns 508 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 182 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in shares of DuPont de Nemours by 67.5% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 541 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 218 shares during the period. Finally, Quaker Wealth Management LLC lifted its stake in shares of DuPont de Nemours by 200.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 594 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 1,184 shares during the period. 73.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DuPont de Nemours

In other news, SVP Erik T. Hoover sold 6,005 shares of the firm’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $39.79, for a total value of $238,938.95. Following the transaction, the senior vice president directly owned 112,101 shares in the company, valued at $4,460,498.79. This trade represents a 5.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Lori Koch sold 9,011 shares of the company’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $39.46, for a total value of $355,574.06. Following the sale, the chief executive officer owned 288,326 shares of the company’s stock, valued at approximately $11,377,343.96. This trade represents a 3.03% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DD shares. Citigroup upped their price target on DuPont de Nemours from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank Of Canada boosted their price target on DuPont de Nemours from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Mizuho raised their price objective on DuPont de Nemours from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Deutsche Bank Aktiengesellschaft cut their target price on DuPont de Nemours from $90.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Finally, Zacks Research raised DuPont de Nemours from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, DuPont de Nemours has an average rating of “Moderate Buy” and a consensus price target of $45.99.

DuPont de Nemours Price Performance

NYSE DD opened at $45.61 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.63 and a current ratio of 2.00. The company has a market capitalization of $19.11 billion, a price-to-earnings ratio of -24.79, a PEG ratio of 3.55 and a beta of 1.10. The stock has a 50-day moving average of $42.19 and a 200 day moving average of $36.49. DuPont de Nemours, Inc. has a one year low of $22.50 and a one year high of $48.03.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings results on Thursday, November 6th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.05. DuPont de Nemours had a negative net margin of 6.17% and a positive return on equity of 7.81%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the firm posted $1.18 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that DuPont de Nemours, Inc. will post 4.38 EPS for the current year.

DuPont de Nemours declared that its board has initiated a share repurchase program on Thursday, November 6th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 12.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

About DuPont de Nemours

DuPont de Nemours (NYSE: DD) is a global science and engineering company that develops and supplies specialty materials, chemicals and industrial biosciences for a wide range of markets. Headquartered in Wilmington, Delaware, the company traces its origins to 1802 and has evolved through more than two centuries of innovation. In recent history DuPont participated in a major combination with Dow Chemical and subsequent reorganization that refocused the company on differentiated, specialty businesses built around science-based solutions.

DuPont’s operations center on advanced materials and technologies used by manufacturers and OEMs in industries such as transportation, electronics, construction, industrial manufacturing and worker safety.