Teacher Retirement System of Texas grew its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 62.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 109,472 shares of the basic materials company’s stock after purchasing an additional 42,164 shares during the period. Teacher Retirement System of Texas’ holdings in DuPont de Nemours were worth $8,460,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the company. Exencial Wealth Advisors LLC bought a new position in shares of DuPont de Nemours during the first quarter valued at about $226,000. Verdence Capital Advisors LLC boosted its stake in shares of DuPont de Nemours by 3.7% in the 1st quarter. Verdence Capital Advisors LLC now owns 8,245 shares of the basic materials company’s stock worth $637,000 after buying an additional 296 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of DuPont de Nemours by 30.7% in the first quarter. First Horizon Advisors Inc. now owns 7,837 shares of the basic materials company’s stock valued at $605,000 after acquiring an additional 1,839 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of DuPont de Nemours by 141.8% during the first quarter. Envestnet Asset Management Inc. now owns 903,546 shares of the basic materials company’s stock valued at $69,826,000 after acquiring an additional 529,915 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in DuPont de Nemours by 12.1% during the first quarter. Russell Investments Group Ltd. now owns 1,940,243 shares of the basic materials company’s stock worth $150,007,000 after acquiring an additional 209,346 shares during the period. 70.54% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Jon D. Kemp sold 3,500 shares of the company’s stock in a transaction on Tuesday, May 25th. The shares were sold at an average price of $84.38, for a total value of $295,330.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Raj Ratnakar sold 11,408 shares of the firm’s stock in a transaction dated Friday, May 7th. The shares were sold at an average price of $82.80, for a total value of $944,582.40. Following the sale, the senior vice president now owns 11,896 shares in the company, valued at approximately $984,988.80. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
DuPont de Nemours (NYSE:DD) last released its quarterly earnings results on Tuesday, May 4th. The basic materials company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.15. DuPont de Nemours had a net margin of 15.97% and a return on equity of 6.76%. The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the business earned $0.84 EPS. The business’s revenue for the quarter was down 23.8% on a year-over-year basis. On average, equities analysts anticipate that DuPont de Nemours, Inc. will post 3.76 earnings per share for the current year.
DuPont de Nemours announced that its Board of Directors has initiated a stock buyback program on Monday, March 8th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the basic materials company to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, May 28th will be paid a $0.30 dividend. The ex-dividend date is Thursday, May 27th. This represents a $1.20 dividend on an annualized basis and a yield of 1.45%. DuPont de Nemours’s dividend payout ratio is currently 35.71%.
Several equities research analysts have recently issued reports on DD shares. KeyCorp raised their target price on DuPont de Nemours from $87.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, May 11th. Bank of America lowered shares of DuPont de Nemours from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 16th. Barclays initiated coverage on shares of DuPont de Nemours in a research report on Monday, March 22nd. They set an “equal weight” rating and a $84.00 target price for the company. The Goldman Sachs Group raised shares of DuPont de Nemours from a “neutral” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Monday, May 17th. Finally, Wells Fargo & Company upped their price objective on DuPont de Nemours from $90.00 to $95.00 in a research note on Wednesday, May 5th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $82.71.
DuPont de Nemours Company Profile
DuPont de Nemours, Inc provides technology-based materials, ingredients, and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. The company's Electronics & Imaging segment supplies materials to manufacture photovoltaics and solar cells; materials and printing systems to the advanced printing industry; and materials and solutions for the fabrication of semiconductors and integrated circuits addressing front-end and back-end of the manufacturing process.
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