Essex LLC Reduces Stock Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Essex LLC cut its holdings in DuPont de Nemours, Inc. (NYSE:DD) by 21.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,738 shares of the basic materials company’s stock after selling 2,944 shares during the period. Essex LLC’s holdings in DuPont de Nemours were worth $957,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Palisade Asset Management LLC purchased a new stake in DuPont de Nemours in the 1st quarter valued at approximately $25,000. ESL Trust Services LLC acquired a new stake in shares of DuPont de Nemours during the first quarter valued at $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in DuPont de Nemours during the 2nd quarter worth about $27,000. Denver PWM LLC acquired a new position in DuPont de Nemours in the 2nd quarter valued at about $28,000. Finally, Fortitude Family Office LLC raised its position in shares of DuPont de Nemours by 46.6% in the second quarter. Fortitude Family Office LLC now owns 412 shares of the basic materials company’s stock valued at $33,000 after buying an additional 131 shares during the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DD shares. Deutsche Bank Aktiengesellschaft boosted their price target on DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays downgraded DuPont de Nemours from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $88.00 to $84.00 in a research report on Monday, October 7th. Citigroup decreased their price target on DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Finally, Royal Bank of Canada upped their price objective on shares of DuPont de Nemours from $87.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.91.

DuPont de Nemours Stock Down 0.2 %

Shares of NYSE DD opened at $85.09 on Friday. The stock has a fifty day moving average price of $83.34 and a 200 day moving average price of $80.31. The company has a current ratio of 2.21, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. DuPont de Nemours, Inc. has a 12-month low of $61.14 and a 12-month high of $90.06. The company has a market cap of $35.58 billion, a P/E ratio of 103.77, a P/E/G ratio of 2.26 and a beta of 1.34.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.12. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.05 billion. DuPont de Nemours had a net margin of 5.30% and a return on equity of 6.31%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.85 EPS. Research analysts anticipate that DuPont de Nemours, Inc. will post 3.76 EPS for the current fiscal year.

DuPont de Nemours Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.79%. The ex-dividend date is Friday, November 29th. DuPont de Nemours’s dividend payout ratio is currently 185.37%.

DuPont de Nemours Company 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.