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

Primecap Management Co. CA trimmed its stake in DuPont de Nemours, Inc. (NYSE:DD) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,580,092 shares of the basic materials company’s stock after selling 79,434 shares during the period. Primecap Management Co. CA’s holdings in DuPont de Nemours were worth $196,732,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Lake Street Advisors Group LLC lifted its position in DuPont de Nemours by 3.2% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,231 shares of the basic materials company’s stock valued at $323,000 after acquiring an additional 132 shares during the period. Global Trust Asset Management LLC lifted its position in DuPont de Nemours by 1.5% during the 4th quarter. Global Trust Asset Management LLC now owns 9,227 shares of the basic materials company’s stock valued at $704,000 after acquiring an additional 133 shares during the period. Avior Wealth Management LLC lifted its position in DuPont de Nemours by 22.7% during the 4th quarter. Avior Wealth Management LLC now owns 741 shares of the basic materials company’s stock valued at $57,000 after acquiring an additional 137 shares during the period. Howard Capital Management Inc. lifted its position in DuPont de Nemours by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 2,809 shares of the basic materials company’s stock valued at $214,000 after acquiring an additional 144 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in DuPont de Nemours by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,117 shares of the basic materials company’s stock valued at $178,000 after acquiring an additional 146 shares during the period. 73.96% of the stock is owned by hedge funds and other institutional investors.

DuPont de Nemours Stock Performance

Shares of NYSE DD opened at $77.80 on Tuesday. The firm has a 50 day moving average of $78.25 and a 200 day moving average of $81.07. The company has a current ratio of 1.33, a quick ratio of 0.88 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $32.52 billion, a price-to-earnings ratio of 46.58, a price-to-earnings-growth ratio of 2.15 and a beta of 1.29. DuPont de Nemours, Inc. has a 12-month low of $72.38 and a 12-month high of $90.06.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Tuesday, February 11th. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.15. DuPont de Nemours had a net margin of 5.47% and a return on equity of 7.12%. On average, research analysts anticipate that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current year.

DuPont de Nemours Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.64 annualized dividend and a yield of 2.11%. This is an increase from DuPont de Nemours’s previous quarterly dividend of $0.38. DuPont de Nemours’s payout ratio is currently 98.20%.

Analysts Set New Price Targets

A number of research firms have weighed in on DD. JPMorgan Chase & Co. reduced their price objective on shares of DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Citigroup raised their price objective on shares of DuPont de Nemours from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. BMO Capital Markets raised their price objective on shares of DuPont de Nemours from $105.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Barclays upgraded shares of DuPont de Nemours from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $85.00 to $89.00 in a research note on Thursday, February 13th. Finally, Wolfe Research upgraded shares of DuPont de Nemours from a “peer perform” rating to an “outperform” rating and set a $91.00 price objective for the company in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.17.

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.