ARK Investment Management LLC Sells 682 Shares of DuPont de Nemours, Inc. (NYSE:DD)

ARK Investment Management LLC trimmed its position in DuPont de Nemours, Inc. (NYSE:DD) by 26.7% in the 4th quarter, Holdings Channel reports. The firm owned 1,871 shares of the basic materials company’s stock after selling 682 shares during the quarter. ARK Investment Management LLC’s holdings in DuPont de Nemours were worth $144,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DD. State Street Corp raised its position in DuPont de Nemours by 0.5% in the 2nd quarter. State Street Corp now owns 18,536,772 shares of the basic materials company’s stock worth $1,324,267,000 after purchasing an additional 95,396 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of DuPont de Nemours by 114,597.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,970,989 shares of the basic materials company’s stock valued at $821,569,000 after purchasing an additional 11,960,552 shares in the last quarter. Invesco Ltd. boosted its stake in DuPont de Nemours by 6.7% during the third quarter. Invesco Ltd. now owns 10,119,827 shares of the basic materials company’s stock worth $754,838,000 after acquiring an additional 639,246 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in DuPont de Nemours by 19.6% during the second quarter. Nuveen Asset Management LLC now owns 7,704,546 shares of the basic materials company’s stock worth $550,413,000 after acquiring an additional 1,261,028 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of DuPont de Nemours by 6.9% in the fourth quarter. Morgan Stanley now owns 7,696,931 shares of the basic materials company’s stock worth $528,241,000 after buying an additional 498,633 shares in the last quarter. 73.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DD has been the topic of several analyst reports. Mizuho dropped their target price on shares of DuPont de Nemours from $80.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, February 7th. Barclays dropped their target price on shares of DuPont de Nemours from $74.00 to $70.00 and set an “equal weight” rating for the company in a research report on Monday, February 12th. BMO Capital Markets lowered shares of DuPont de Nemours from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $80.00 to $72.00 in a research report on Wednesday, January 24th. Bank of America lowered shares of DuPont de Nemours from a “buy” rating to an “underperform” rating and increased their price objective for the company from $78.00 to $80.00 in a research report on Tuesday, January 16th. Finally, TheStreet downgraded shares of DuPont de Nemours from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $76.60.

Insider Activity

In related news, insider Michael G. Goss sold 2,354 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $72.80, for a total value of $171,371.20. Following the sale, the insider now owns 15,587 shares of the company’s stock, valued at $1,134,733.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.38% of the company’s stock.

DuPont de Nemours Trading Up 1.3 %

Shares of DD opened at $76.53 on Thursday. The company has a current ratio of 2.43, a quick ratio of 1.73 and a debt-to-equity ratio of 0.32. DuPont de Nemours, Inc. has a 12-month low of $61.14 and a 12-month high of $78.74. The firm has a 50-day moving average price of $69.61 and a 200 day moving average price of $71.96. The firm has a market capitalization of $31.96 billion, a P/E ratio of 82.29, a P/E/G ratio of 2.52 and a beta of 1.39.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Tuesday, February 6th. The basic materials company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. DuPont de Nemours had a net margin of 3.51% and a return on equity of 6.12%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the firm posted $0.89 earnings per share. DuPont de Nemours’s revenue was down 6.6% compared to the same quarter last year. Sell-side analysts forecast that DuPont de Nemours, Inc. will post 3.44 EPS for the current year.

DuPont de Nemours Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.38 dividend. This is a positive change from DuPont de Nemours’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.52 annualized dividend and a dividend yield of 1.99%. DuPont de Nemours’s dividend payout ratio (DPR) is presently 163.44%.

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.