Steinberg Asset Management LLC Cuts Position in DuPont de Nemours, Inc. (NYSE:DD)

Steinberg Asset Management LLC decreased its holdings in DuPont de Nemours, Inc. (NYSE:DD) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 12,204 shares of the basic materials company’s stock after selling 317 shares during the period. DuPont de Nemours makes up about 0.7% of Steinberg Asset Management LLC’s investment portfolio, making the stock its 24th largest position. Steinberg Asset Management LLC’s holdings in DuPont de Nemours were worth $931,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DD. Choreo LLC raised its stake in shares of DuPont de Nemours by 23.4% during the fourth quarter. Choreo LLC now owns 43,307 shares of the basic materials company’s stock valued at $3,296,000 after purchasing an additional 8,205 shares during the period. Merit Financial Group LLC raised its stake in shares of DuPont de Nemours by 36.4% during the fourth quarter. Merit Financial Group LLC now owns 18,496 shares of the basic materials company’s stock valued at $1,410,000 after purchasing an additional 4,939 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of DuPont de Nemours during the fourth quarter valued at approximately $1,343,000. Grandfield & Dodd LLC raised its stake in shares of DuPont de Nemours by 72.0% during the fourth quarter. Grandfield & Dodd LLC now owns 7,538 shares of the basic materials company’s stock valued at $575,000 after purchasing an additional 3,155 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of DuPont de Nemours by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,868,586 shares of the basic materials company’s stock valued at $218,730,000 after purchasing an additional 91,108 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Stock Performance

DuPont de Nemours stock opened at $69.31 on Friday. The company has a market cap of $29.01 billion, a PE ratio of 41.50, a P/E/G ratio of 2.15 and a beta of 1.07. The company has a fifty day moving average price of $67.53 and a two-hundred day moving average price of $75.55. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.33 and a quick ratio of 0.88. DuPont de Nemours, Inc. has a 12 month low of $53.77 and a 12 month high of $90.06.

DuPont de Nemours (NYSE:DD) last posted its earnings results on Friday, May 2nd. The basic materials company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.08. The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.05 billion. DuPont de Nemours had a return on equity of 7.12% and a net margin of 5.47%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $0.79 earnings per share. Research analysts expect that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current year.

DuPont de Nemours Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Friday, May 30th. DuPont de Nemours’s payout ratio is -863.16%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of DuPont de Nemours from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Citigroup decreased their price target on shares of DuPont de Nemours from $95.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company decreased their price target on shares of DuPont de Nemours from $105.00 to $81.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. raised their price target on shares of DuPont de Nemours from $78.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, BMO Capital Markets raised their price target on shares of DuPont de Nemours from $105.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.29.

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.