Carret Asset Management LLC Reduces Stock Position in DuPont de Nemours, Inc. (NYSE:DD)

Carret Asset Management LLC reduced its holdings in shares of DuPont de Nemours, Inc. (NYSE:DD) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,964 shares of the basic materials company’s stock after selling 1,070 shares during the quarter. Carret Asset Management LLC’s holdings in DuPont de Nemours were worth $2,067,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Northwest Financial Advisors bought a new position in DuPont de Nemours during the 4th quarter worth approximately $25,000. Cassady Schiller Wealth Management LLC lifted its stake in DuPont de Nemours by 153.5% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 431 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 261 shares during the last quarter. Neo Ivy Capital Management acquired a new position in DuPont de Nemours in the fourth quarter worth $40,000. AlphaMark Advisors LLC acquired a new stake in shares of DuPont de Nemours during the fourth quarter worth $41,000. Finally, Grove Bank & Trust lifted its position in shares of DuPont de Nemours by 55.1% in the 4th quarter. Grove Bank & Trust now owns 529 shares of the basic materials company’s stock worth $41,000 after buying an additional 188 shares during the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

Insiders Place Their Bets

In related news, insider Leland Weaver sold 18,500 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $78.40, for a total transaction of $1,450,400.00. Following the completion of the sale, the insider now directly owns 24,476 shares in the company, valued at $1,918,918.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other DuPont de Nemours news, insider Michael G. Goss sold 1,339 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $78.33, for a total transaction of $104,883.87. Following the completion of the sale, the insider now directly owns 14,012 shares of the company’s stock, valued at $1,097,559.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Leland Weaver sold 18,500 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $78.40, for a total transaction of $1,450,400.00. Following the completion of the transaction, the insider now owns 24,476 shares of the company’s stock, valued at $1,918,918.40. The disclosure for this sale can be found here. 0.56% of the stock is owned by company insiders.

DuPont de Nemours Price Performance

DuPont de Nemours stock traded down $0.17 during trading hours on Wednesday, hitting $79.19. 845,714 shares of the company traded hands, compared to its average volume of 2,896,811. DuPont de Nemours, Inc. has a 1-year low of $61.14 and a 1-year high of $82.63. The firm has a market cap of $33.11 billion, a P/E ratio of 96.79, a P/E/G ratio of 2.51 and a beta of 1.34. The firm’s 50-day simple moving average is $79.16 and its two-hundred day simple moving average is $74.72. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.32.

DuPont de Nemours (NYSE:DD) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.14. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.81 billion. DuPont de Nemours had a net margin of 2.75% and a return on equity of 6.07%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.84 earnings per share. As a group, analysts forecast that DuPont de Nemours, Inc. will post 3.63 earnings per share for the current fiscal year.

DuPont de Nemours Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Friday, August 30th. DuPont de Nemours’s payout ratio is currently 185.37%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DD. Citigroup upgraded shares of DuPont de Nemours from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $95.00 in a research note on Tuesday, May 28th. Wells Fargo & Company raised DuPont de Nemours from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $80.00 to $103.00 in a report on Friday, May 24th. UBS Group boosted their price objective on DuPont de Nemours from $93.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Mizuho increased their target price on DuPont de Nemours from $83.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Barclays boosted their price target on shares of DuPont de Nemours from $81.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, DuPont de Nemours presently has an average rating of “Moderate Buy” and an average target price of $91.09.

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.