DuPont de Nemours, Inc. (NYSE:DD) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC reduced its position in shares of DuPont de Nemours, Inc. (NYSE:DDGet Rating) by 4.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,120 shares of the basic materials company’s stock after selling 189 shares during the period. ARK Investment Management LLC’s holdings in DuPont de Nemours were worth $280,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in DD. Massachusetts Financial Services Co. MA raised its position in shares of DuPont de Nemours by 9.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 21,062,765 shares of the basic materials company’s stock valued at $1,549,799,000 after acquiring an additional 1,846,889 shares in the last quarter. Bank of New York Mellon Corp increased its position in DuPont de Nemours by 38.9% in the first quarter. Bank of New York Mellon Corp now owns 6,426,494 shares of the basic materials company’s stock worth $472,862,000 after buying an additional 1,798,499 shares during the period. Waverton Investment Management Ltd increased its position in DuPont de Nemours by 1,269.3% in the first quarter. Waverton Investment Management Ltd now owns 1,195,591 shares of the basic materials company’s stock worth $87,972,000 after buying an additional 1,108,274 shares during the period. Nuveen Asset Management LLC increased its position in DuPont de Nemours by 10.1% in the fourth quarter. Nuveen Asset Management LLC now owns 8,574,015 shares of the basic materials company’s stock worth $692,609,000 after buying an additional 784,566 shares during the period. Finally, Standard Investments LLC increased its position in DuPont de Nemours by 15.4% in the fourth quarter. Standard Investments LLC now owns 5,625,000 shares of the basic materials company’s stock worth $454,388,000 after buying an additional 750,000 shares during the period. 72.43% of the stock is owned by institutional investors and hedge funds.

DuPont de Nemours Trading Up 2.5 %

Shares of DD stock opened at $55.33 on Tuesday. The stock has a 50-day simple moving average of $57.99 and a 200 day simple moving average of $63.45. DuPont de Nemours, Inc. has a fifty-two week low of $52.56 and a fifty-two week high of $85.16. The stock has a market capitalization of $27.71 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.74 and a beta of 1.43. The company has a quick ratio of 2.12, a current ratio of 2.55 and a debt-to-equity ratio of 0.41.

DuPont de Nemours (NYSE:DDGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.13. DuPont de Nemours had a return on equity of 7.54% and a net margin of 12.35%. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the company posted $1.06 EPS. DuPont de Nemours’s revenue for the quarter was down 19.7% on a year-over-year basis. On average, sell-side analysts expect that DuPont de Nemours, Inc. will post 3.35 earnings per share for the current fiscal year.

DuPont de Nemours Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Friday, July 29th were given a $0.33 dividend. The ex-dividend date was Thursday, July 28th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.39%. DuPont de Nemours’s dividend payout ratio (DPR) is 36.26%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DD shares. Barclays dropped their target price on DuPont de Nemours from $78.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Monday, July 11th. KeyCorp dropped their target price on DuPont de Nemours from $96.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Bank of America dropped their target price on DuPont de Nemours from $77.00 to $73.00 in a research report on Wednesday, July 13th. Citigroup raised their price target on DuPont de Nemours from $72.00 to $75.00 and gave the company a “buy” rating in a report on Monday, August 8th. Finally, Jefferies Financial Group lowered DuPont de Nemours from a “buy” rating to a “hold” rating and lowered their price target for the company from $92.00 to $60.00 in a report on Thursday, June 16th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.00.

About DuPont de Nemours

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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 three segments: Electronics & Industrial, Mobility & Materials, and Water & Protection. The Electronics & Industrial segment supplies materials and printing systems to the advanced printing industry; and materials and solutions for the fabrication of semiconductors and integrated circuits addressing front-end and back-end of the manufacturing process.

Further Reading

Institutional Ownership by Quarter for DuPont de Nemours (NYSE:DD)

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