Assenagon Asset Management S.A. Sells 118,013 Shares of DuPont de Nemours, Inc. (NYSE:DD)

Assenagon Asset Management S.A. trimmed its holdings in DuPont de Nemours, Inc. (NYSE:DD) by 37.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 199,113 shares of the basic materials company’s stock after selling 118,013 shares during the quarter. Assenagon Asset Management S.A.’s holdings in DuPont de Nemours were worth $17,743,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DD. Wealthcare Advisory Partners LLC acquired a new position in DuPont de Nemours during the 1st quarter worth $223,000. Grimes & Company Inc. increased its position in DuPont de Nemours by 8.1% in the first quarter. Grimes & Company Inc. now owns 3,047 shares of the basic materials company’s stock worth $234,000 after purchasing an additional 229 shares during the period. Diversified Trust Co raised its holdings in DuPont de Nemours by 2.9% during the 1st quarter. Diversified Trust Co now owns 5,892 shares of the basic materials company’s stock worth $452,000 after purchasing an additional 168 shares during the last quarter. Iams Wealth Management LLC lifted its position in DuPont de Nemours by 6.2% during the 1st quarter. Iams Wealth Management LLC now owns 22,236 shares of the basic materials company’s stock valued at $1,705,000 after purchasing an additional 1,295 shares during the period. Finally, Azzad Asset Management Inc. ADV boosted its stake in shares of DuPont de Nemours by 2.8% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 33,793 shares of the basic materials company’s stock valued at $2,591,000 after purchasing an additional 934 shares during the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup dropped their price target on shares of DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Deutsche Bank Aktiengesellschaft upped their target price on shares of DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley lifted their price objective on DuPont de Nemours from $88.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Royal Bank of Canada increased their target price on DuPont de Nemours from $87.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Barclays lowered DuPont de Nemours from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $88.00 to $84.00 in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.83.

DuPont de Nemours Stock Performance

Shares of DD opened at $83.30 on Friday. The firm has a market cap of $34.83 billion, a P/E ratio of 101.59, a PEG ratio of 2.26 and a beta of 1.34. DuPont de Nemours, Inc. has a twelve month low of $61.14 and a twelve month high of $90.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 2.21. The firm’s 50 day moving average price is $83.85 and its two-hundred day moving average price is $80.59.

DuPont de Nemours (NYSE:DD) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.85 by $0.12. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.05 billion. DuPont de Nemours had a net margin of 5.30% and a return on equity of 6.31%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. On average, analysts forecast that DuPont de Nemours, Inc. will post 3.76 EPS for the current fiscal year.

DuPont de Nemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.82%. DuPont de Nemours’s payout ratio is presently 185.37%.

DuPont de Nemours 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.