Sumitomo Life Insurance Co. Sells 776 Shares of DuPont de Nemours, Inc. (NYSE:DD)

Sumitomo Life Insurance Co. reduced its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 4.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 16,131 shares of the basic materials company’s stock after selling 776 shares during the period. Sumitomo Life Insurance Co.’s holdings in DuPont de Nemours were worth $1,241,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Lido Advisors LLC lifted its holdings in shares of DuPont de Nemours by 10.4% during the 3rd quarter. Lido Advisors LLC now owns 17,033 shares of the basic materials company’s stock worth $1,270,000 after acquiring an additional 1,609 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in shares of DuPont de Nemours during the 4th quarter worth $1,859,000. Premier Path Wealth Partners LLC bought a new stake in shares of DuPont de Nemours during the 4th quarter worth $1,031,000. Axxcess Wealth Management LLC lifted its holdings in shares of DuPont de Nemours by 424.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 28,568 shares of the basic materials company’s stock worth $2,131,000 after acquiring an additional 23,116 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in DuPont de Nemours by 60.6% in the fourth quarter. Pacer Advisors Inc. now owns 46,599 shares of the basic materials company’s stock worth $3,585,000 after purchasing an additional 17,592 shares during the last quarter. 73.96% of the stock is owned by institutional investors.

DuPont de Nemours Trading Down 3.2 %

NYSE:DD opened at $73.80 on Monday. The company’s 50 day moving average price is $71.88 and its 200-day moving average price is $72.14. DuPont de Nemours, Inc. has a 52 week low of $61.14 and a 52 week high of $78.74. The company has a quick ratio of 1.73, a current ratio of 2.43 and a debt-to-equity ratio of 0.32. The stock has a market cap of $30.85 billion, a price-to-earnings ratio of 79.36, a PEG ratio of 2.44 and a beta of 1.40.

DuPont de Nemours (NYSE:DD) last posted its quarterly earnings results on Tuesday, February 6th. The basic materials company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. DuPont de Nemours had a net margin of 3.51% and a return on equity of 6.12%. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the company posted $0.89 earnings per share. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities research analysts forecast that DuPont de Nemours, Inc. will post 3.48 earnings per share for the current fiscal year.

DuPont de Nemours Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.38 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.52 annualized dividend and a yield of 2.06%. This is a boost from DuPont de Nemours’s previous quarterly dividend of $0.36. DuPont de Nemours’s dividend payout ratio (DPR) is currently 163.44%.

Insider Buying and Selling

In other news, insider Michael G. Goss sold 2,354 shares of DuPont de Nemours stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $72.80, for a total transaction of $171,371.20. Following the transaction, the insider now owns 15,587 shares in the company, valued at approximately $1,134,733.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on DD shares. JPMorgan Chase & Co. boosted their price target on shares of DuPont de Nemours from $76.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Citigroup upped their price objective on shares of DuPont de Nemours from $73.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. StockNews.com raised shares of DuPont de Nemours from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Bank of America downgraded shares of DuPont de Nemours from a “buy” rating to an “underperform” rating and upped their price objective for the company from $78.00 to $80.00 in a research note on Tuesday, January 16th. Finally, Wolfe Research began coverage on shares of DuPont de Nemours in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, DuPont de Nemours has a consensus rating of “Hold” and an average price target of $77.90.

About DuPont de Nemours

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.