Burke & Herbert Bank & Trust Co. Lowers Stake in DuPont de Nemours, Inc. (NYSE:DD)

Burke & Herbert Bank & Trust Co. reduced its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 6.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,608 shares of the basic materials company’s stock after selling 394 shares during the quarter. Burke & Herbert Bank & Trust Co.’s holdings in DuPont de Nemours were worth $401,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC lifted its stake in DuPont de Nemours by 114,597.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,970,989 shares of the basic materials company’s stock worth $821,569,000 after acquiring an additional 11,960,552 shares during the period. Putnam Investments LLC lifted its stake in DuPont de Nemours by 1,871.7% in the first quarter. Putnam Investments LLC now owns 5,124,160 shares of the basic materials company’s stock worth $367,761,000 after acquiring an additional 4,864,272 shares during the period. Empower Advisory Group LLC purchased a new stake in DuPont de Nemours in the first quarter worth about $89,142,000. Canoe Financial LP purchased a new stake in DuPont de Nemours in the first quarter worth about $70,236,000. Finally, Norges Bank purchased a new stake in DuPont de Nemours in the fourth quarter worth about $65,712,000. 76.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other DuPont de Nemours news, SVP Raj Ratnakar sold 50,633 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $77.42, for a total value of $3,920,006.86. Following the sale, the senior vice president now owns 31,720 shares in the company, valued at approximately $2,455,762.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other DuPont de Nemours news, SVP Raj Ratnakar sold 50,633 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $77.42, for a total value of $3,920,006.86. Following the sale, the senior vice president now owns 31,720 shares in the company, valued at approximately $2,455,762.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael G. Goss sold 7,919 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $77.36, for a total value of $612,613.84. Following the completion of the sale, the insider now owns 13,363 shares in the company, valued at approximately $1,033,761.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,390 shares of company stock worth $5,713,502. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada boosted their target price on shares of DuPont de Nemours from $81.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Citigroup boosted their target price on shares of DuPont de Nemours from $72.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, July 19th. StockNews.com assumed coverage on shares of DuPont de Nemours in a report on Thursday, August 17th. They issued a “hold” rating for the company. TheStreet downgraded shares of DuPont de Nemours from a “b-” rating to a “c+” rating in a report on Monday, July 10th. Finally, Barclays boosted their target price on shares of DuPont de Nemours from $70.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, August 3rd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, DuPont de Nemours currently has an average rating of “Moderate Buy” and a consensus target price of $79.50.

DuPont de Nemours Stock Performance

NYSE:DD traded up $0.93 during midday trading on Monday, hitting $75.49. The company’s stock had a trading volume of 564,185 shares, compared to its average volume of 3,054,788. DuPont de Nemours, Inc. has a fifty-two week low of $49.52 and a fifty-two week high of $78.74. The firm’s 50 day moving average is $75.49 and its 200-day moving average is $71.33. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.98 and a quick ratio of 2.35. The firm has a market cap of $34.65 billion, a P/E ratio of 7.76, a P/E/G ratio of 2.24 and a beta of 1.40.

DuPont de Nemours (NYSE:DD) last issued its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. DuPont de Nemours had a net margin of 37.09% and a return on equity of 6.11%. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the company earned $0.88 EPS. DuPont de Nemours’s quarterly revenue was down 6.9% on a year-over-year basis. Equities analysts anticipate that DuPont de Nemours, Inc. will post 3.45 earnings per share for the current fiscal year.

DuPont de Nemours Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Monday, July 31st were issued a $0.36 dividend. The ex-dividend date was Friday, July 28th. This represents a $1.44 annualized dividend and a yield of 1.91%. DuPont de Nemours’s dividend payout ratio (DPR) is presently 14.85%.

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 addressing various steps of the manufacturing process.