Point72 Hong Kong Ltd Sells 77,956 Shares of DuPont de Nemours, Inc. (NYSE:DD)

Point72 Hong Kong Ltd lessened its position in DuPont de Nemours, Inc. (NYSE:DD) by 89.5% in the third quarter, HoldingsChannel reports. The fund owned 9,147 shares of the basic materials company’s stock after selling 77,956 shares during the quarter. Point72 Hong Kong Ltd’s holdings in DuPont de Nemours were worth $815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of DD. Fortitude Family Office LLC grew its position in DuPont de Nemours by 46.6% in the 2nd quarter. Fortitude Family Office LLC now owns 412 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 131 shares during the period. Crestwood Advisors Group LLC lifted its stake in shares of DuPont de Nemours by 3.3% in the second quarter. Crestwood Advisors Group LLC now owns 4,120 shares of the basic materials company’s stock valued at $332,000 after buying an additional 132 shares in the last quarter. Aaron Wealth Advisors LLC grew its holdings in shares of DuPont de Nemours by 3.7% during the second quarter. Aaron Wealth Advisors LLC now owns 3,875 shares of the basic materials company’s stock valued at $312,000 after buying an additional 137 shares during the last quarter. Focus Financial Network Inc. increased its position in shares of DuPont de Nemours by 3.7% during the third quarter. Focus Financial Network Inc. now owns 3,973 shares of the basic materials company’s stock worth $354,000 after acquiring an additional 143 shares in the last quarter. Finally, Busey Bank boosted its stake in DuPont de Nemours by 4.7% during the 3rd quarter. Busey Bank now owns 3,243 shares of the basic materials company’s stock valued at $289,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 73.96% of the company’s stock.

Wall Street Analyst Weigh In

DD has been the subject of several analyst reports. Royal Bank of Canada increased their price objective on DuPont de Nemours from $102.00 to $104.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Morgan Stanley increased their price target on DuPont de Nemours from $88.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Barclays lifted their price objective on shares of DuPont de Nemours from $84.00 to $85.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company increased their target price on shares of DuPont de Nemours from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.42.

DuPont de Nemours Stock Performance

NYSE DD opened at $83.59 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.49 and a current ratio of 2.28. The company has a market capitalization of $34.94 billion, a PE ratio of 43.99, a price-to-earnings-growth ratio of 2.00 and a beta of 1.35. DuPont de Nemours, Inc. has a 52-week low of $61.14 and a 52-week high of $90.06. The company has a 50-day simple moving average of $84.75 and a 200 day simple moving average of $81.93.

DuPont de Nemours (NYSE:DD) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.15. DuPont de Nemours had a net margin of 6.35% and a return on equity of 6.64%. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter last year, the business posted $0.92 EPS. DuPont de Nemours’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, research analysts predict that DuPont de Nemours, Inc. will post 3.91 EPS for the current year.

DuPont de Nemours Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 1.82%. DuPont de Nemours’s payout ratio is 80.00%.

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.