PNC Financial Services Group Inc. Lowers Stake in DuPont Co. (DD)
PNC Financial Services Group Inc. cut its position in DuPont Co. (NYSE:DD) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,127,414 shares of the company’s stock after selling 55,739 shares during the period. PNC Financial Services Group Inc. owned about 0.47% of DuPont worth $276,415,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Euclid Advisors LLC bought a new position in DuPont during the first quarter worth approximately $2,225,000. Iowa State Bank raised its position in shares of DuPont by 0.4% in the second quarter. Iowa State Bank now owns 43,563 shares of the company’s stock valued at $2,823,000 after buying an additional 160 shares during the period. Kistler Tiffany Companies LLC raised its position in shares of DuPont by 8.1% in the second quarter. Kistler Tiffany Companies LLC now owns 8,020 shares of the company’s stock valued at $520,000 after buying an additional 600 shares during the period. Integrated Investment Consultants LLC raised its position in shares of DuPont by 10.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,050 shares of the company’s stock valued at $133,000 after buying an additional 191 shares during the period. Finally, Stock Yards Bank & Trust Co. raised its position in shares of DuPont by 1.1% in the second quarter. Stock Yards Bank & Trust Co. now owns 15,854 shares of the company’s stock valued at $1,027,000 after buying an additional 171 shares during the period. 69.57% of the stock is currently owned by institutional investors.
DuPont Co. (NYSE:DD) opened at 73.61 on Thursday. The stock’s 50 day moving average price is $69.37 and its 200-day moving average price is $67.94. The stock has a market cap of $63.99 billion, a PE ratio of 32.57 and a beta of 1.71. DuPont Co. has a 12 month low of $50.71 and a 12 month high of $75.72.
DuPont (NYSE:DD) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.13. The business earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.86 billion. DuPont had a return on equity of 27.16% and a net margin of 8.08%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 earnings per share. Analysts anticipate that DuPont Co. will post $3.26 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 15th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, November 10th. DuPont’s payout ratio is 67.26%.
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Several equities research analysts have recently commented on DD shares. Nomura started coverage on DuPont in a report on Tuesday, October 18th. They set a “buy” rating and a $78.00 price objective for the company. Citigroup Inc. upgraded DuPont from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $72.00 to $76.00 in a report on Monday, October 3rd. Zacks Investment Research upgraded DuPont from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Wednesday, November 23rd. Finally, Deutsche Bank AG boosted their price objective on DuPont from $55.00 to $56.00 and gave the company a “sell” rating in a report on Friday, August 12th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. DuPont currently has an average rating of “Hold” and a consensus price target of $71.33.
DuPont Company Profile
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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