Laurion Capital Management LP decreased its stake in DuPont de Nemours, Inc. (NYSE:DD) by 98.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 26,703 shares of the basic materials company’s stock after selling 1,568,162 shares during the period. Laurion Capital Management LP’s holdings in DuPont de Nemours were worth $2,067,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Perigon Wealth Management LLC increased its stake in shares of DuPont de Nemours by 4.3% in the first quarter. Perigon Wealth Management LLC now owns 3,024 shares of the basic materials company’s stock valued at $234,000 after buying an additional 126 shares during the period. First Horizon Advisors Inc. raised its stake in shares of DuPont de Nemours by 1.7% in the second quarter. First Horizon Advisors Inc. now owns 7,970 shares of the basic materials company’s stock worth $616,000 after purchasing an additional 133 shares during the last quarter. Logan Capital Management Inc. increased its position in shares of DuPont de Nemours by 0.5% during the first quarter. Logan Capital Management Inc. now owns 24,901 shares of the basic materials company’s stock valued at $1,925,000 after acquiring an additional 134 shares during the last quarter. CX Institutional increased its position in shares of DuPont de Nemours by 8.4% during the second quarter. CX Institutional now owns 1,743 shares of the basic materials company’s stock valued at $135,000 after acquiring an additional 135 shares during the last quarter. Finally, Lido Advisors LLC increased its position in shares of DuPont de Nemours by 3.4% during the second quarter. Lido Advisors LLC now owns 4,106 shares of the basic materials company’s stock valued at $318,000 after acquiring an additional 135 shares during the last quarter. 70.55% of the stock is owned by institutional investors.
In related news, insider Rose Lee sold 26,448 shares of the company’s stock in a transaction that occurred on Tuesday, August 24th. The stock was sold at an average price of $74.37, for a total value of $1,966,937.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Luther C. Iv Kissam acquired 5,000 shares of the stock in a transaction that occurred on Thursday, August 5th. The stock was acquired at an average cost of $75.94 per share, for a total transaction of $379,700.00. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company’s stock.
DuPont de Nemours (NYSE:DD) last issued its quarterly earnings results on Tuesday, August 3rd. The basic materials company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.12. DuPont de Nemours had a return on equity of 7.42% and a net margin of 32.59%. The firm had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the previous year, the firm posted $0.70 EPS. The business’s revenue for the quarter was up 25.7% compared to the same quarter last year. As a group, research analysts forecast that DuPont de Nemours, Inc. will post 4.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Investors of record on Tuesday, November 30th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.68%. DuPont de Nemours’s dividend payout ratio (DPR) is presently 35.71%.
DD has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on DuPont de Nemours from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, July 13th. Citigroup increased their price target on DuPont de Nemours from $96.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, August 4th. TheStreet raised DuPont de Nemours from a “d+” rating to a “c” rating in a research report on Tuesday, August 3rd. Mizuho started coverage on DuPont de Nemours in a research report on Tuesday. They issued a “buy” rating and a $94.00 target price for the company. Finally, KeyCorp reaffirmed a “buy” rating and issued a $93.00 price target on shares of DuPont de Nemours in a report on Thursday, September 16th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $88.39.
About DuPont de Nemours
DuPont de Nemours, Inc operates as a holding company, which engages in the development of specialty materials, chemicals, and agricultural products. It operates through the following segments: Electronics & Imaging, Nutrition & Biosciences, Transportation & Industrial, Safety & Construction, and Non-Core.
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