DuPont Co. (DD) Position Decreased by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado decreased its stake in shares of DuPont Co. (NYSE:DD) by 8.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 182,932 shares of the company’s stock after selling 17,538 shares during the period. Public Employees Retirement Association of Colorado’s holdings in DuPont were worth $11,854,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in DD. State Street Corp raised its stake 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. Trian Fund Management L.P. increased its position in shares of DuPont by 1.3% in the first quarter. Trian Fund Management L.P. now owns 20,485,262 shares of the company’s stock worth $1,297,127,000 after buying an additional 261,187 shares during the period. Geode Capital Management LLC increased its position in shares of DuPont by 2.1% in the first quarter. Geode Capital Management LLC now owns 7,237,054 shares of the company’s stock worth $457,342,000 after buying an additional 149,132 shares during the period. Adage Capital Partners GP L.L.C. increased its position 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 period. Finally, Legal & General Group Plc increased its position in shares of DuPont by 0.5% in the first quarter. Legal & General Group Plc now owns 3,901,748 shares of the company’s stock worth $247,077,000 after buying an additional 20,701 shares during the period. Institutional investors and hedge funds own 70.29% of the company’s stock.
DuPont Co. (NYSE:DD) traded up 1.31% during midday trading on Friday, hitting $69.03. 2,109,271 shares of the stock traded hands. The company has a market cap of $60.35 billion, a P/E ratio of 27.46 and a beta of 1.78. DuPont Co. has a one year low of $50.71 and a one year high of $75.72. The company’s 50 day moving average is $68.24 and its 200-day moving average is $66.82.
DuPont (NYSE:DD) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.14. The business earned $7.10 billion during the quarter, compared to analysts’ expectations of $7.01 billion. DuPont had a net margin of 9.01% and a return on equity of 24.59%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company earned $1.18 EPS. On average, equities research analysts forecast that DuPont Co. will post $3.19 EPS for the current fiscal year.
A number of equities analysts recently commented on the stock. Vetr downgraded shares of DuPont from a “buy” rating to a “hold” rating and set a $69.68 price objective for the company. in a research note on Monday, June 20th. Barclays PLC reissued a “neutral” rating on shares of DuPont in a research note on Thursday, July 28th. Citigroup Inc. raised shares of DuPont from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $72.00 to $76.00 in a research note on Monday, October 3rd. Deutsche Bank AG boosted their price objective on shares of DuPont from $55.00 to $56.00 and gave the stock a “sell” rating in a research note on Friday, August 12th. Finally, TheStreet downgraded shares of DuPont from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $70.73.
In other news, SVP Benito Cachinero sold 58,958 shares of DuPont stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $70.36, for a total transaction of $4,148,284.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher Marc Doyle sold 5,422 shares of DuPont stock in a transaction on Friday, August 26th. The stock was sold at an average price of $69.53, for a total transaction of $376,991.66. 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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