Corebridge Financial Inc. Lowers Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Corebridge Financial Inc. reduced its stake in DuPont de Nemours, Inc. (NYSE:DD) by 4.5% during the fourth quarter, HoldingsChannel reports. The fund owned 98,966 shares of the basic materials company’s stock after selling 4,699 shares during the period. Corebridge Financial Inc.’s holdings in DuPont de Nemours were worth $7,546,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of DD. United Bank lifted its position in DuPont de Nemours by 2.7% in the 3rd quarter. United Bank now owns 11,015 shares of the basic materials company’s stock valued at $982,000 after acquiring an additional 290 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of DuPont de Nemours by 87.5% in the third quarter. Larson Financial Group LLC now owns 812 shares of the basic materials company’s stock worth $72,000 after purchasing an additional 379 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of DuPont de Nemours by 16.2% during the third quarter. Fisher Asset Management LLC now owns 4,900 shares of the basic materials company’s stock valued at $437,000 after purchasing an additional 684 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of DuPont de Nemours by 0.5% during the third quarter. D.A. Davidson & CO. now owns 38,420 shares of the basic materials company’s stock valued at $3,424,000 after buying an additional 193 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in DuPont de Nemours by 83.5% in the 3rd quarter. Quantbot Technologies LP now owns 25,069 shares of the basic materials company’s stock worth $2,234,000 after buying an additional 11,406 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DD shares. Royal Bank of Canada lowered their target price on shares of DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Barclays upgraded shares of DuPont de Nemours from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $85.00 to $89.00 in a research report on Thursday, February 13th. Wolfe Research raised shares of DuPont de Nemours from a “peer perform” rating to an “outperform” rating and set a $91.00 target price for the company in a research report on Friday, January 17th. StockNews.com cut DuPont de Nemours from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, BMO Capital Markets lifted their price objective on DuPont de Nemours from $105.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.17.

DuPont de Nemours Stock Performance

NYSE:DD opened at $74.00 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 1.33. The stock has a 50-day simple moving average of $78.45 and a two-hundred day simple moving average of $80.74. The firm has a market capitalization of $30.94 billion, a PE ratio of 44.31, a P/E/G ratio of 2.15 and a beta of 1.29. DuPont de Nemours, Inc. has a 52-week low of $72.38 and a 52-week high of $90.06.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings data on Tuesday, February 11th. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.15. DuPont de Nemours had a return on equity of 7.12% and a net margin of 5.47%. Analysts forecast that DuPont de Nemours, Inc. will post 4.38 EPS for the current year.

DuPont de Nemours Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.22%. This is an increase from DuPont de Nemours’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Monday, March 3rd. DuPont de Nemours’s dividend payout ratio (DPR) is presently 98.20%.

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.