Retirement Systems of Alabama Lowers Position in DuPont Co. (DD)
Retirement Systems of Alabama lowered its stake in shares of DuPont Co. (NYSE:DD) by 0.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 506,856 shares of the company’s stock after selling 3,333 shares during the period. Retirement Systems of Alabama owned 0.06% of DuPont worth $33,944,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. DNB Asset Management AS increased its stake in shares of DuPont by 3.4% in the second quarter. DNB Asset Management AS now owns 80,210 shares of the company’s stock valued at $5,198,000 after buying an additional 2,600 shares in the last quarter. British Columbia Investment Management Corp increased its stake in shares of DuPont by 1.1% in the second quarter. British Columbia Investment Management Corp now owns 397,017 shares of the company’s stock valued at $25,727,000 after buying an additional 4,357 shares in the last quarter. Patten & Patten Inc. TN increased its stake in shares of DuPont by 0.8% in the second quarter. Patten & Patten Inc. TN now owns 24,549 shares of the company’s stock valued at $1,591,000 after buying an additional 197 shares in the last quarter. Baxter Bros Inc. acquired a new stake in shares of DuPont during the second quarter valued at about $644,000. Finally, Osborn Rohs Williams & Donohoe Ltd increased its stake in shares of DuPont by 3.0% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 26,267 shares of the company’s stock valued at $1,702,000 after buying an additional 776 shares in the last quarter. 69.57% of the stock is owned by institutional investors and hedge funds.
Shares of DuPont Co. (NYSE:DD) traded up 0.20% during mid-day trading on Wednesday, hitting $71.34. The company’s stock had a trading volume of 474,116 shares. The company has a 50-day moving average of $69.37 and a 200 day moving average of $67.94. DuPont Co. has a 1-year low of $50.71 and a 1-year high of $75.72. The company has a market cap of $62.02 billion, a price-to-earnings ratio of 31.57 and a beta of 1.71.
DuPont (NYSE:DD) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.13. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.86 billion. DuPont had a return on equity of 27.16% and a net margin of 8.08%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 earnings per share. On average, analysts expect that DuPont Co. will post $3.26 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Tuesday, November 15th will be issued a $0.38 dividend. The ex-dividend date is Thursday, November 10th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.13%. DuPont’s dividend payout ratio (DPR) is 67.26%.
Several equities research analysts recently issued reports on the company. Citigroup Inc. raised DuPont from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $72.00 to $76.00 in a research note on Monday, October 3rd. Nomura assumed coverage on DuPont in a research note on Tuesday, October 18th. They issued a “buy” rating and a $78.00 price objective for the company. Deutsche Bank AG increased their price objective on DuPont from $55.00 to $56.00 and gave the stock a “sell” rating in a research note on Friday, August 12th. Finally, Zacks Investment Research raised DuPont from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Wednesday, November 23rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. DuPont has a consensus rating of “Hold” and an average price target of $71.33.
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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