Massachusetts Financial Services Co. MA Trims Stock Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Massachusetts Financial Services Co. MA lowered its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 16.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,324,500 shares of the basic materials company’s stock after selling 3,187,772 shares during the period. Massachusetts Financial Services Co. MA owned 3.91% of DuPont de Nemours worth $1,454,676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its stake in shares of DuPont de Nemours by 0.7% during the 2nd quarter. Legal & General Group Plc now owns 3,863,144 shares of the basic materials company’s stock worth $310,945,000 after purchasing an additional 25,857 shares during the last quarter. Canada Pension Plan Investment Board increased its stake 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 valued at $118,229,000 after purchasing an additional 391,400 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in DuPont de Nemours by 403.2% in 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. Swiss National Bank grew its holdings in DuPont de Nemours by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,240,973 shares of the basic materials company’s stock valued at $110,583,000 after buying an additional 3,200 shares during the period. Finally, Ceredex Value Advisors LLC lifted its holdings in shares of DuPont de Nemours by 3.9% during the 3rd quarter. Ceredex Value Advisors LLC now owns 1,210,472 shares of the basic materials company’s stock worth $107,865,000 after acquiring an additional 45,308 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Wall Street Analyst Weigh In

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

DuPont de Nemours Stock Performance

Shares of DD stock opened at $81.85 on Thursday. The company’s fifty day moving average price is $84.55 and its two-hundred day moving average price is $81.68. 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 P/E ratio of 43.08, a P/E/G ratio of 1.94 and a beta of 1.35. DuPont de Nemours, Inc. has a 12 month low of $61.14 and a 12 month high of $90.06.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.15. DuPont de Nemours had a return on equity of 6.64% and a net margin of 6.35%. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same period last year, the business posted $0.92 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, research analysts anticipate that DuPont de Nemours, Inc. will post 3.91 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. Investors of record on Friday, November 29th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 1.86%. DuPont de Nemours’s payout ratio is 80.00%.

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.