Parsons Capital Management Inc. RI Has $230,000 Position in DuPont de Nemours, Inc. (NYSE:DD)

Parsons Capital Management Inc. RI lessened its holdings in shares of DuPont de Nemours, Inc. (NYSE:DD) by 16.4% in the first quarter, Holdings Channel.com reports. The fund owned 3,075 shares of the basic materials company’s stock after selling 602 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in DuPont de Nemours were worth $230,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DD. Aster Capital Management DIFC Ltd boosted its stake in DuPont de Nemours by 479.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 365 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 302 shares during the last quarter. Vermillion Wealth Management Inc. bought a new stake in DuPont de Nemours in the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC acquired a new stake in DuPont de Nemours in the fourth quarter worth $31,000. Golden State Wealth Management LLC bought a new position in shares of DuPont de Nemours during the fourth quarter worth $33,000. Finally, Covestor Ltd grew its holdings in shares of DuPont de Nemours by 78.8% in the 4th quarter. Covestor Ltd now owns 447 shares of the basic materials company’s stock valued at $34,000 after buying an additional 197 shares during the period. Institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Trading Down 1.1%

Shares of NYSE:DD opened at $69.40 on Thursday. DuPont de Nemours, Inc. has a 52-week low of $53.77 and a 52-week high of $90.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 1.33. The company has a market capitalization of $29.04 billion, a P/E ratio of 41.56, a price-to-earnings-growth ratio of 2.15 and a beta of 1.05. The company has a 50-day simple moving average of $65.19 and a 200 day simple moving average of $73.69.

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, topping analysts’ consensus estimates of $0.95 by $0.08. DuPont de Nemours had a net margin of 5.47% and a return on equity of 7.12%. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter last year, the company posted $0.79 EPS. DuPont de Nemours’s quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts forecast that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current year.

DuPont de Nemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Friday, May 30th. DuPont de Nemours’s dividend payout ratio is -863.16%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DD shares. Wall Street Zen cut shares of DuPont de Nemours from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Royal Bank of Canada cut their price target on shares of DuPont de Nemours from $101.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Morgan Stanley lowered their price objective on shares of DuPont de Nemours from $94.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, May 5th. Bank of America raised DuPont de Nemours from an “underperform” rating to a “neutral” rating and dropped their target price for the company from $80.00 to $75.00 in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company lowered their price target on shares of DuPont de Nemours from $105.00 to $81.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, DuPont de Nemours presently has an average rating of “Moderate Buy” and a consensus price target of $85.92.

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.