Pinnacle Associates Ltd. Has $3.91 Million Stock Holdings in DuPont de Nemours, Inc. $DD

Pinnacle Associates Ltd. increased its holdings in shares of DuPont de Nemours, Inc. (NYSE:DD) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,979 shares of the basic materials company’s stock after buying an additional 1,926 shares during the period. Pinnacle Associates Ltd.’s holdings in DuPont de Nemours were worth $3,908,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in DuPont de Nemours by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 46,894,623 shares of the basic materials company’s stock worth $3,502,090,000 after buying an additional 298,408 shares during the period. Nuveen LLC acquired a new stake in DuPont de Nemours during the 1st quarter worth approximately $531,037,000. Price T Rowe Associates Inc. MD boosted its position in DuPont de Nemours by 21.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,159,807 shares of the basic materials company’s stock worth $310,656,000 after buying an additional 746,364 shares during the period. Bank of New York Mellon Corp boosted its position in DuPont de Nemours by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 3,347,098 shares of the basic materials company’s stock worth $249,961,000 after buying an additional 37,327 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in DuPont de Nemours by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,190,172 shares of the basic materials company’s stock worth $238,200,000 after buying an additional 83,147 shares during the period. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of DuPont de Nemours from $81.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. UBS Group raised their price target on shares of DuPont de Nemours from $87.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Citigroup raised their price target on shares of DuPont de Nemours from $85.00 to $93.00 in a report on Friday, September 19th. Mizuho raised their price target on shares of DuPont de Nemours from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of DuPont de Nemours from $99.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.42.

DuPont de Nemours Stock Performance

NYSE:DD opened at $81.58 on Friday. The company has a fifty day moving average of $78.23 and a 200-day moving average of $72.71. The firm has a market capitalization of $34.16 billion, a P/E ratio of -173.57, a P/E/G ratio of 2.49 and a beta of 1.08. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.23. DuPont de Nemours, Inc. has a twelve month low of $53.77 and a twelve month high of $87.80.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings data on Monday, July 11th. The basic materials company reported $0.69 earnings per share for the quarter. The company had revenue of $3.02 billion during the quarter. DuPont de Nemours had a negative net margin of 1.54% and a positive return on equity of 7.85%. As a group, sell-side analysts anticipate that DuPont de Nemours, Inc. will post 4.38 EPS for the current year.

Insider Buying and Selling at DuPont de Nemours

In other news, SVP Steven P. Larrabee sold 43,208 shares of DuPont de Nemours stock in a transaction on Monday, September 15th. The shares were sold at an average price of $77.17, for a total value of $3,334,361.36. Following the completion of the sale, the senior vice president owned 38,585 shares in the company, valued at $2,977,604.45. The trade was a 52.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 74,208 shares of company stock valued at $5,714,861. Insiders own 0.61% of the company’s stock.

About DuPont de Nemours

DuPont de Nemours, Inc provides technology-based materials and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through Electronics & Industrial, Water & Protection, and Corporate & Other segments. The Electronics & Industrial segment supplies materials and solutions for the fabrication of semiconductors and integrated circuits.