PNC Financial Services Group Inc. Decreases Stock Position in DuPont de Nemours, Inc. (NYSE:DD)

PNC Financial Services Group Inc. lowered its stake in DuPont de Nemours, Inc. (NYSE:DD) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 835,694 shares of the basic materials company’s stock after selling 21,863 shares during the quarter. PNC Financial Services Group Inc.’s holdings in DuPont de Nemours were worth $74,469,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DD. Denver PWM LLC bought a new stake in shares of DuPont de Nemours in the 2nd quarter worth about $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of DuPont de Nemours in the 2nd quarter worth about $27,000. Fortitude Family Office LLC increased its holdings in shares of DuPont de Nemours by 46.6% in the 2nd quarter. Fortitude Family Office LLC now owns 412 shares of the basic materials company’s stock worth $33,000 after buying an additional 131 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of DuPont de Nemours in the 3rd quarter worth about $38,000. Finally, Quarry LP bought a new stake in shares of DuPont de Nemours in the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Trading Down 0.6 %

DD stock opened at $81.38 on Wednesday. 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 company has a market capitalization of $34.01 billion, a PE ratio of 42.83, a P/E/G ratio of 1.96 and a beta of 1.35. The firm’s 50-day moving average is $84.51 and its 200 day moving average is $81.68. 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 posted its earnings results on Tuesday, November 5th. The basic materials company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.15. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.20 billion. DuPont de Nemours had a net margin of 6.35% and a return on equity of 6.64%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. On average, research analysts anticipate that DuPont de Nemours, Inc. will post 3.91 EPS for the current year.

DuPont de Nemours Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Friday, November 29th. DuPont de Nemours’s dividend payout ratio (DPR) is 80.00%.

Analyst Ratings Changes

A number of research firms have recently weighed in on DD. Deutsche Bank Aktiengesellschaft boosted their target price on shares of DuPont de Nemours from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada boosted their target price on shares of DuPont de Nemours from $102.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their price target on shares of DuPont de Nemours from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Barclays raised their price objective on shares of DuPont de Nemours from $84.00 to $85.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley upped their target price on DuPont de Nemours from $88.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, DuPont de Nemours presently has an average rating of “Moderate Buy” and a consensus target price of $95.42.

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.