Legacy Trust Acquires New Stake in DuPont de Nemours, Inc. $DD

Legacy Trust acquired a new position in shares of DuPont de Nemours, Inc. (NYSE:DD) in the third quarter, Holdings Channel reports. The fund acquired 34,064 shares of the basic materials company’s stock, valued at approximately $4,771,000.

A number of other hedge funds also recently added to or reduced their stakes in DD. Parallel Advisors LLC grew its stake in shares of DuPont de Nemours by 1.4% in the 3rd quarter. Parallel Advisors LLC now owns 6,340 shares of the basic materials company’s stock valued at $823,000 after purchasing an additional 87 shares during the last quarter. Center for Financial Planning Inc. increased its holdings in shares of DuPont de Nemours by 19.7% in the third quarter. Center for Financial Planning Inc. now owns 607 shares of the basic materials company’s stock valued at $79,000 after purchasing an additional 100 shares during the period. Brandywine Oak Private Wealth LLC raised its stake in shares of DuPont de Nemours by 0.9% during the third quarter. Brandywine Oak Private Wealth LLC now owns 12,301 shares of the basic materials company’s stock worth $1,598,000 after purchasing an additional 111 shares during the last quarter. Americana Partners LLC raised its stake in shares of DuPont de Nemours by 0.4% during the third quarter. Americana Partners LLC now owns 24,855 shares of the basic materials company’s stock worth $3,228,000 after purchasing an additional 111 shares during the last quarter. Finally, Providence Wealth Advisors LLC raised its stake in shares of DuPont de Nemours by 2.2% during the third quarter. Providence Wealth Advisors LLC now owns 5,243 shares of the basic materials company’s stock worth $682,000 after purchasing an additional 113 shares during the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.

DuPont de Nemours Stock Down 0.5%

DuPont de Nemours stock opened at $154.76 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.74 and a current ratio of 2.36. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of 69.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.06. DuPont de Nemours, Inc. has a fifty-two week low of $111.15 and a fifty-two week high of $159.48. The stock’s fifty day moving average is $134.92 and its two-hundred day moving average is $139.27.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings results on Tuesday, November 3rd. The basic materials company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.22. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.84 billion. DuPont de Nemours had a return on equity of 6.85% and a net margin of 4.26%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $1.09 earnings per share. Analysts predict that DuPont de Nemours, Inc. will post 7.51 EPS for the current fiscal year.

DuPont de Nemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, November 30th. DuPont de Nemours’s dividend payout ratio is presently 107.62%.

Insider Buying and Selling at DuPont de Nemours

In other DuPont de Nemours news, SVP Erik Hoover sold 4,203 shares of the firm’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $150.82, for a total transaction of $633,896.46. Following the completion of the transaction, the senior vice president directly owned 38,798 shares in the company, valued at approximately $5,851,514.36. This trade represents a 9.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lori Koch sold 2,311 shares of DuPont de Nemours stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $151.15, for a total transaction of $349,307.65. Following the transaction, the chief executive officer owned 115,715 shares of the company’s stock, valued at approximately $17,490,322.25. The trade was a 1.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 96,359 shares of company stock worth $14,137,411. 0.96% of the stock is owned by corporate insiders.

Analyst Ratings Changes

DD has been the subject of several recent research reports. Barclays increased their price target on DuPont de Nemours from $156.00 to $176.00 and gave the stock an “overweight” rating in a report on Wednesday, November 4th. UBS Group boosted their price objective on shares of DuPont de Nemours from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday, November 4th. The Goldman Sachs Group cut their price objective on shares of DuPont de Nemours from $159.00 to $153.00 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. Zacks Research cut shares of DuPont de Nemours from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Finally, Wells Fargo & Company raised their target price on shares of DuPont de Nemours from $166.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Twelve analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $165.88.

About DuPont de Nemours

DuPont de Nemours is a science and materials company that develops products for customers in markets including construction, healthcare, water treatment, transportation and worker safety. Its offerings include protective materials such as Kevlar, Nomex and Tyvek, as well as Corian surface materials and technologies used in water purification and separation. The company traces its roots to 1802, when E. I. du Pont established a gunpowder mill in Delaware. Over time, DuPont expanded into a broad range of chemical and advanced-materials businesses.