Canada Pension Plan Investment Board Reduces Stock Position in DuPont de Nemours, Inc. (NYSE:DD)

Canada Pension Plan Investment Board lowered its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 24.3% in the second quarter, Holdings Channel reports. The institutional investor owned 1,168,045 shares of the basic materials company’s stock after selling 374,000 shares during the quarter. Canada Pension Plan Investment Board’s holdings in DuPont de Nemours were worth $94,016,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in DuPont de Nemours by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 48,045,648 shares of the basic materials company’s stock worth $3,696,152,000 after acquiring an additional 3,168,740 shares in the last quarter. Putnam Investments LLC grew its stake in DuPont de Nemours by 3.2% in the fourth quarter. Putnam Investments LLC now owns 5,196,730 shares of the basic materials company’s stock worth $399,784,000 after purchasing an additional 159,438 shares in the last quarter. Mondrian Investment Partners LTD grew its stake in DuPont de Nemours by 9.5% in the first quarter. Mondrian Investment Partners LTD now owns 1,799,860 shares of the basic materials company’s stock worth $137,995,000 after purchasing an additional 156,339 shares in the last quarter. Norges Bank acquired a new stake in DuPont de Nemours during the fourth quarter valued at approximately $111,980,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings 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. 73.96% of the stock is owned by institutional investors and hedge funds.

DuPont de Nemours Trading Up 0.2 %

Shares of DD stock opened at $83.34 on Friday. DuPont de Nemours, Inc. has a 1 year low of $61.14 and a 1 year high of $85.12. The firm has a market capitalization of $34.84 billion, a PE ratio of 101.63, a price-to-earnings-growth ratio of 2.12 and a beta of 1.33. The stock has a fifty day moving average of $80.67 and a two-hundred day moving average of $78.43. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 2.21.

DuPont de Nemours (NYSE:DD) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.85 by $0.12. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.05 billion. DuPont de Nemours had a net margin of 5.30% and a return on equity of 6.31%. DuPont de Nemours’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. As a group, research analysts expect that DuPont de Nemours, Inc. will post 3.74 EPS for the current year.

DuPont de Nemours Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Friday, August 30th. DuPont de Nemours’s payout ratio is currently 185.37%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Citigroup lowered their price target on DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating for the company in a report on Friday, July 12th. Wells Fargo & Company upgraded shares of DuPont de Nemours from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $80.00 to $103.00 in a research report on Friday, May 24th. Deutsche Bank Aktiengesellschaft increased their price objective 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. Royal Bank of Canada lifted their target price on DuPont de Nemours from $87.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Barclays increased their price target on DuPont de Nemours from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

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.