Raymond James Financial Services Advisors Inc. Sells 7,433 Shares of DuPont de Nemours, Inc. (NYSE:DD)

Posted by Defense World Staff on May 17th, 2023

Raymond James Financial Services Advisors Inc. trimmed its position in DuPont de Nemours, Inc. (NYSE:DD – Get Rating) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,287 shares of the basic materials company’s stock after selling 7,433 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in DuPont de Nemours were worth $7,569,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DD. Canton Hathaway LLC acquired a new stake in shares of DuPont de Nemours in the 4th quarter valued at approximately $25,000. Boyd Watterson Asset Management LLC OH acquired a new position in shares of DuPont de Nemours during the fourth quarter worth $26,000. Baystate Wealth Management LLC lifted its stake in shares of DuPont de Nemours by 282.8% in the 4th quarter. Baystate Wealth Management LLC now owns 513 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 379 shares during the last quarter. Fiduciary Alliance LLC acquired a new stake in shares of DuPont de Nemours during the 4th quarter valued at $37,000. Finally, Concord Wealth Partners bought a new stake in DuPont de Nemours during the 4th quarter worth $46,000. 71.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DuPont de Nemours

In other news, insider Michael G. Goss sold 2,374 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $65.46, for a total value of $155,402.04. Following the completion of the sale, the insider now owns 13,345 shares in the company, valued at approximately $873,563.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on DD. Morgan Stanley lifted their price target on DuPont de Nemours from $72.00 to $79.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft raised shares of DuPont de Nemours from a “hold” rating to a “buy” rating and boosted their target price for the stock from $70.00 to $80.00 in a report on Monday. Mizuho dropped their price target on shares of DuPont de Nemours from $85.00 to $81.00 in a research note on Wednesday, May 3rd. Barclays reduced their price objective on shares of DuPont de Nemours from $76.00 to $72.00 in a research note on Wednesday, May 3rd. Finally, Wells Fargo & Company cut their target price on DuPont de Nemours from $85.00 to $75.00 in a report on Wednesday, May 3rd. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.36.

DuPont de Nemours Stock Performance

NYSE DD opened at $65.00 on Wednesday. The company has a market cap of $29.84 billion, a P/E ratio of 5.64, a PEG ratio of 2.33 and a beta of 1.40. The company has a fifty day simple moving average of $68.72 and a 200 day simple moving average of $70.24. The company has a current ratio of 3.29, a quick ratio of 2.57 and a debt-to-equity ratio of 0.29. DuPont de Nemours, Inc. has a 12-month low of $49.52 and a 12-month high of $78.40.

DuPont de Nemours (NYSE:DD – Get Rating) last posted its earnings results on Tuesday, May 2nd. The basic materials company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. DuPont de Nemours had a net margin of 43.63% and a return on equity of 6.34%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. Sell-side analysts predict that DuPont de Nemours, Inc. will post 3.63 earnings per share for the current fiscal year.

DuPont de Nemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $1.44 annualized dividend and a yield of 2.22%. DuPont de Nemours’s dividend payout ratio (DPR) is currently 12.49%.

DuPont de Nemours Company Profile

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DuPont de Nemours, Inc operates as a holding company engaged in the development of specialty materials, chemicals, and agricultural products. It operates through the following segments: Electronics & Industrial, Water & Protection, and Corporate & Others. The Electronics & Industrial segment supplies differentiated materials and systems for a broad range of consumer electronics including mobile devices, television monitors, personal computers and electronics used in a variety of industries.