ARK Investment Management LLC Cuts Holdings in DuPont de Nemours, Inc. (NYSE:DD)

ARK Investment Management LLC cut its holdings in DuPont de Nemours, Inc. (NYSE:DD) by 25.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,232 shares of the basic materials company’s stock after selling 416 shares during the quarter. ARK Investment Management LLC’s holdings in DuPont de Nemours were worth $110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fortitude Family Office LLC grew its stake in shares of DuPont de Nemours by 46.6% during the 2nd quarter. Fortitude Family Office LLC now owns 412 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 131 shares during the period. Crestwood Advisors Group LLC increased its holdings in DuPont de Nemours by 3.3% in the second quarter. Crestwood Advisors Group LLC now owns 4,120 shares of the basic materials company’s stock valued at $332,000 after buying an additional 132 shares in the last quarter. Moody National Bank Trust Division lifted its position in shares of DuPont de Nemours by 0.6% during the 2nd quarter. Moody National Bank Trust Division now owns 21,510 shares of the basic materials company’s stock valued at $1,731,000 after acquiring an additional 134 shares during the period. Aaron Wealth Advisors LLC boosted its stake in shares of DuPont de Nemours by 3.7% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 3,875 shares of the basic materials company’s stock worth $312,000 after acquiring an additional 137 shares in the last quarter. Finally, Focus Financial Network Inc. grew its holdings in shares of DuPont de Nemours by 3.7% in the 3rd quarter. Focus Financial Network Inc. now owns 3,973 shares of the basic materials company’s stock worth $354,000 after acquiring an additional 143 shares during the period. Institutional investors and hedge funds own 73.96% of the company’s stock.

Wall Street Analysts Forecast Growth

DD has been the subject of several research reports. Citigroup reduced their price objective on DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating for the company in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada lifted their target price on shares of DuPont de Nemours from $102.00 to $104.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays increased their price target on shares of DuPont de Nemours from $84.00 to $85.00 and gave the company an “underweight” rating in a research report on Wednesday. Finally, Morgan Stanley upped their target price on DuPont de Nemours from $88.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, DuPont de Nemours has an average rating of “Moderate Buy” and an average price target of $95.42.

DuPont de Nemours Price Performance

Shares of NYSE:DD opened at $84.14 on Friday. The company has a market cap of $35.14 billion, a P/E ratio of 55.36, a P/E/G ratio of 2.16 and a beta of 1.35. The business has a fifty day simple moving average of $84.32 and a 200-day simple moving average of $81.15. DuPont de Nemours, Inc. has a 52 week low of $61.14 and a 52 week high of $90.06. The company has a quick ratio of 1.44, a current ratio of 2.21 and a debt-to-equity ratio of 0.30.

DuPont de Nemours (NYSE:DD) last posted its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.03 by $0.15. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.20 billion. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. Equities research analysts forecast that DuPont de Nemours, Inc. will post 3.76 EPS for the current year.

DuPont de Nemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Friday, November 29th. DuPont de Nemours’s dividend payout ratio is currently 100.00%.

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.