Welch Group LLC Has $13,732,000 Stake in DuPont Co. (DD)
Welch Group LLC decreased its stake in DuPont Co. (NYSE:DD) by 20.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 211,918 shares of the company’s stock after selling 55,209 shares during the period. DuPont comprises about 2.8% of Welch Group LLC’s portfolio, making the stock its 26th largest position. Welch Group LLC’s holdings in DuPont were worth $13,732,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its stake in shares of DuPont by 157.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,470,909 shares of the company’s stock worth $346,418,000 after buying an additional 3,347,501 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of DuPont during the second quarter worth about $42,410,000. Svenska Handelsbanken AB publ acquired a new position in shares of DuPont during the second quarter worth about $29,030,000. State Street Corp increased its position in shares of DuPont by 1.1% in the first quarter. State Street Corp now owns 39,212,995 shares of the company’s stock worth $2,482,973,000 after buying an additional 423,988 shares during the last quarter. Finally, HBK Investments L P increased its position in shares of DuPont by 197.2% in the first quarter. HBK Investments L P now owns 610,938 shares of the company’s stock worth $38,685,000 after buying an additional 405,341 shares during the last quarter. 70.29% of the stock is currently owned by institutional investors.
DuPont Co. (NYSE:DD) traded down 1.42% during mid-day trading on Tuesday, reaching $66.88. 2,923,153 shares of the company’s stock were exchanged. The stock has a market capitalization of $58.47 billion, a PE ratio of 26.60 and a beta of 1.78. DuPont Co. has a 1-year low of $50.71 and a 1-year high of $75.72. The firm’s 50-day moving average is $68.47 and its 200 day moving average is $66.63.
DuPont (NYSE:DD) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.01 billion. DuPont had a net margin of 9.01% and a return on equity of 24.59%. DuPont’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 earnings per share. Analysts forecast that DuPont Co. will post $3.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 15th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, August 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.27%. DuPont’s dividend payout ratio (DPR) is 60.32%.
DD has been the topic of several recent research reports. Vetr raised shares of DuPont from a “strong sell” rating to a “sell” rating and set a $64.60 price target on the stock in a report on Tuesday, July 26th. Zacks Investment Research lowered shares of DuPont from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. JPMorgan Chase & Co. lowered shares of DuPont from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $73.00 to $64.00 in a report on Tuesday, June 28th. Deutsche Bank AG upped their price target on shares of DuPont from $55.00 to $56.00 and gave the company a “sell” rating in a report on Friday, August 12th. Finally, Barclays PLC reaffirmed a “neutral” rating on shares of DuPont in a report on Thursday, July 28th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $69.51.
In other news, SVP Benito Cachinero sold 58,958 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $70.36, for a total transaction of $4,148,284.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James C. Jr. Collins sold 50,316 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $70.30, for a total transaction of $3,537,214.80. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
E. I. du Pont de Nemours and Company (DuPont) is a science and technology-based company. The Company consists of over 10 businesses aggregated into six segments: Agriculture, Electronics & Communications, Industrial Biosciences, Nutrition & Health, Performance Materials and Safety & Protection. Its products include corn hybrids and soybean varieties, herbicides, fungicides and insecticides in Agriculture segment; photopolymers and electronic materials in Electronics & Communications segment; enzymes and bio-based materials in Industrial Biosciences segment; cultures, emulsifiers, texturants, natural sweeteners and soy-based food ingredients in Nutrition & Health segment; engineering polymers, packaging and industrial polymers, films and elastomers in Performance Materials segment, and nonwovens, aramids and solid surfaces in Safety & Protection segment.
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