Hsbc Holdings PLC Sells 9,861 Shares of DuPont de Nemours, Inc. $DD

Hsbc Holdings PLC lowered its position in shares of DuPont de Nemours, Inc. (NYSE:DD) by 1.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 862,292 shares of the basic materials company’s stock after selling 9,861 shares during the quarter. Hsbc Holdings PLC owned about 0.21% of DuPont de Nemours worth $59,124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DD. Nuveen LLC acquired a new stake in DuPont de Nemours in the 1st quarter worth about $531,037,000. Boston Partners raised its position in shares of DuPont de Nemours by 36.6% in the second quarter. Boston Partners now owns 3,483,001 shares of the basic materials company’s stock valued at $238,924,000 after buying an additional 932,575 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of DuPont de Nemours by 1.6% in the second quarter. Vanguard Group Inc. now owns 47,664,223 shares of the basic materials company’s stock valued at $3,269,289,000 after buying an additional 769,600 shares during the period. Price T Rowe Associates Inc. MD grew its position in DuPont de Nemours by 21.9% during the first 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 in the last quarter. Finally, Strs Ohio acquired a new stake in DuPont de Nemours during the first quarter worth approximately $54,934,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wolfe Research cut their target price on DuPont de Nemours from $87.00 to $39.00 and set an “outperform” rating for the company in a research report on Tuesday, November 4th. Morgan Stanley dropped their price target on DuPont de Nemours from $80.00 to $44.00 in a research note on Monday, November 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of DuPont de Nemours in a research note on Tuesday, November 25th. Citigroup boosted their target price on shares of DuPont de Nemours from $38.90 to $47.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, BMO Capital Markets cut their price target on shares of DuPont de Nemours from $104.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, DuPont de Nemours currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.88.

Insiders Place Their Bets

In other DuPont de Nemours news, SVP Steven P. Larrabee sold 103,267 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $32.29, for a total value of $3,334,357.49. Following the completion of the transaction, the senior vice president owned 92,218 shares of the company’s stock, valued at $2,977,599.61. This represents a 52.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 177,357 shares of company stock worth $5,714,857. Insiders own 0.61% of the company’s stock.

DuPont de Nemours Trading Up 0.8%

DD opened at $39.77 on Monday. The company has a market cap of $16.66 billion, a P/E ratio of -84.62, a PEG ratio of 2.49 and a beta of 1.11. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $35.41 and its 200-day moving average is $32.10. DuPont de Nemours, Inc. has a 1-year low of $22.50 and a 1-year high of $41.23.

DuPont de Nemours (NYSE:DD) last issued its quarterly earnings data on Monday, July 11th. The basic materials company reported $0.29 EPS for the quarter. The business 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%. Equities research analysts predict that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current fiscal year.

DuPont de Nemours Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, November 28th. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. DuPont de Nemours’s payout ratio is currently -43.48%.

DuPont de Nemours declared that its board has initiated a stock buyback plan on Thursday, November 6th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the basic materials company to buy up to 12.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

DuPont de Nemours Company Profile

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.