DuPont de Nemours, Inc. $DD Stock: King Luther Capital Management Corp Decreases Stake

King Luther Capital Management Corp reduced its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 4.3% in the third quarter, Holdings Channel reports. The firm owned 86,680 shares of the basic materials company’s stock after selling 3,877 shares during the period. King Luther Capital Management Corp’s holdings in DuPont de Nemours were worth $11,259,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DD. State Street Corp increased its stake in DuPont de Nemours by 140.3% in the 2nd quarter. State Street Corp now owns 44,941,824 shares of the basic materials company’s stock worth $6,095,909,000 after buying an additional 26,238,300 shares during the period. Bank of America Corp DE lifted its holdings in DuPont de Nemours by 22.0% during the 1st quarter. Bank of America Corp DE now owns 4,629,671 shares of the basic materials company’s stock valued at $212,039,000 after buying an additional 835,572 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in DuPont de Nemours by 10.0% during the 1st quarter. Bank of New York Mellon Corp now owns 3,706,596 shares of the basic materials company’s stock valued at $169,762,000 after buying an additional 336,780 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in DuPont de Nemours by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,509,831 shares of the basic materials company’s stock valued at $160,688,000 after buying an additional 163,210 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in DuPont de Nemours by 16.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 971,901 shares of the basic materials company’s stock valued at $124,360,000 after buying an additional 137,070 shares during the period. 73.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on DD shares. Wells Fargo & Company upped their target price on shares of DuPont de Nemours from $166.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DuPont de Nemours in a research report on Friday, October 30th. The Goldman Sachs Group decreased their price target on shares of DuPont de Nemours from $159.00 to $153.00 and set a “neutral” rating for the company in a research note on Wednesday, September 30th. Zacks Research lowered DuPont de Nemours from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Finally, UBS Group boosted their price target on DuPont de Nemours from $172.00 to $182.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. Twelve investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, DuPont de Nemours presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.88.

Insider Buying and Selling at DuPont de Nemours

In other news, CEO Lori Koch sold 2,311 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $151.15, for a total value of $349,307.65. Following the completion of the sale, the chief executive officer owned 115,715 shares of the company’s stock, valued at approximately $17,490,322.25. This represents a 1.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Erik T. Hoover sold 4,203 shares of the stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $150.82, for a total transaction of $633,896.46. Following the transaction, the senior vice president owned 38,798 shares in the company, valued at approximately $5,851,514.36. This represents a 9.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 96,359 shares of company stock valued at $14,137,411. Company insiders own 0.96% of the company’s stock.

DuPont de Nemours Price Performance

DD opened at $154.76 on Friday. The company has a market capitalization of $20.51 billion, a price-to-earnings ratio of 69.40, a PEG ratio of 1.35 and a beta of 1.06. The company has a current ratio of 2.36, a quick ratio of 1.74 and a debt-to-equity ratio of 0.23. DuPont de Nemours, Inc. has a 12-month low of $111.15 and a 12-month high of $159.48. The business’s fifty day simple moving average is $134.92 and its 200-day simple moving average is $139.27.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings data on Tuesday, November 3rd. The basic materials company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.22. DuPont de Nemours had a return on equity of 6.85% and a net margin of 4.26%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. On average, equities research analysts anticipate that DuPont de Nemours, Inc. will post 7.51 earnings per share for the current fiscal year.

DuPont de Nemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $2.40 dividend on an annualized basis and a yield of 1.6%. DuPont de Nemours’s dividend payout ratio (DPR) is 107.62%.

About DuPont de Nemours

DuPont de Nemours is a science and materials company that develops products for customers in markets including construction, healthcare, water treatment, transportation and worker safety. Its offerings include protective materials such as Kevlar, Nomex and Tyvek, as well as Corian surface materials and technologies used in water purification and separation. The company traces its roots to 1802, when E. I. du Pont established a gunpowder mill in Delaware. Over time, DuPont expanded into a broad range of chemical and advanced-materials businesses.