Primecap Management Co. CA Reduces Stock Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Primecap Management Co. CA lowered its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,659,526 shares of the basic materials company’s stock after selling 15,637 shares during the period. Primecap Management Co. CA owned 0.64% of DuPont de Nemours worth $236,990,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Lake Street Advisors Group LLC boosted its holdings in shares of DuPont de Nemours by 31.6% during the first quarter. Lake Street Advisors Group LLC now owns 3,884 shares of the basic materials company’s stock worth $298,000 after purchasing an additional 933 shares during the period. National Bank of Canada FI lifted its holdings in DuPont de Nemours by 40.5% in the first quarter. National Bank of Canada FI now owns 224,843 shares of the basic materials company’s stock worth $17,706,000 after buying an additional 64,815 shares during the period. Pitcairn Co. lifted its holdings in DuPont de Nemours by 8.1% in the first quarter. Pitcairn Co. now owns 6,483 shares of the basic materials company’s stock worth $497,000 after buying an additional 485 shares during the period. Advisors Asset Management Inc. purchased a new stake in DuPont de Nemours in the first quarter worth about $389,000. Finally, Canada Pension Plan Investment Board lifted its holdings in DuPont de Nemours by 34.0% in the first quarter. Canada Pension Plan Investment Board now owns 1,542,045 shares of the basic materials company’s stock worth $118,229,000 after buying an additional 391,400 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Analysts Set New Price Targets

DD has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on shares of DuPont de Nemours from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Barclays lifted their target price on shares of DuPont de Nemours from $84.00 to $85.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their target price on shares of DuPont de Nemours from $102.00 to $104.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Morgan Stanley raised their price target on shares of DuPont de Nemours from $88.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.42.

DuPont de Nemours Stock Performance

NYSE:DD opened at $81.85 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.28 and a quick ratio of 1.49. The firm has a market capitalization of $34.21 billion, a price-to-earnings ratio of 43.08, a PEG ratio of 1.94 and a beta of 1.35. The company’s 50-day moving average is $84.55 and its two-hundred day moving average is $81.68. DuPont de Nemours, Inc. has a 1-year low of $61.14 and a 1-year high of $90.06.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Tuesday, November 5th. The basic materials company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.15. DuPont de Nemours had a net margin of 6.35% and a return on equity of 6.64%. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts forecast that DuPont de Nemours, Inc. will post 3.91 EPS for the current year.

DuPont de Nemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 1.86%. DuPont de Nemours’s payout ratio is currently 80.00%.

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.