Searle & CO. Trims Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Searle & CO. reduced its holdings in shares of DuPont de Nemours, Inc. (NYSE:DD) by 18.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,851 shares of the basic materials company’s stock after selling 1,598 shares during the period. Searle & CO.’s holdings in DuPont de Nemours were worth $610,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc grew its stake in shares of DuPont de Nemours by 0.7% in the 2nd quarter. Legal & General Group Plc now owns 3,863,144 shares of the basic materials company’s stock valued at $310,945,000 after purchasing an additional 25,857 shares during the last quarter. Mondrian Investment Partners LTD grew its position in DuPont de Nemours by 9.5% in the 1st quarter. Mondrian Investment Partners LTD now owns 1,799,860 shares of the basic materials company’s stock valued at $137,995,000 after buying an additional 156,339 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in DuPont de Nemours by 34.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,542,045 shares of the basic materials company’s stock valued at $118,229,000 after buying an additional 391,400 shares during the period. Jacobs Levy Equity Management Inc. raised its position in DuPont de Nemours by 403.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,421,685 shares of the basic materials company’s stock worth $109,001,000 after buying an additional 1,139,156 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its stake in shares of DuPont de Nemours by 95.0% in the 2nd quarter. Ceredex Value Advisors LLC now owns 1,165,164 shares of the basic materials company’s stock worth $93,784,000 after acquiring an additional 567,732 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Price Performance

NYSE:DD traded down $0.54 during trading hours on Wednesday, reaching $84.35. 118,619 shares of the company traded hands, compared to its average volume of 2,512,523. DuPont de Nemours, Inc. has a 1-year low of $61.14 and a 1-year high of $90.06. The stock has a market cap of $35.27 billion, a P/E ratio of 103.12, a P/E/G ratio of 2.26 and a beta of 1.34. The firm’s 50-day moving average is $83.60 and its 200-day moving average is $80.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 1.44.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.12. DuPont de Nemours had a net margin of 5.30% and a return on equity of 6.31%. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts expect that DuPont de Nemours, Inc. will post 3.76 earnings per share for the current fiscal year.

DuPont de Nemours Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 1.80%. DuPont de Nemours’s payout ratio is currently 185.37%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DD shares. Citigroup cut their price target on shares of DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating for the company in a report on Friday, July 12th. Royal Bank of Canada raised their price target on DuPont de Nemours from $87.00 to $102.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Morgan Stanley increased their price objective on DuPont de Nemours from $88.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their price target on shares of DuPont de Nemours from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Barclays cut shares of DuPont de Nemours from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $88.00 to $84.00 in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.83.

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.