DuPont de Nemours, Inc. (NYSE:DD) Stake Reduced by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. reduced its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 9.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 10,829 shares of the basic materials company’s stock after selling 1,065 shares during the period. Confluence Wealth Services Inc.’s holdings in DuPont de Nemours were worth $830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in DuPont de Nemours by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 48,045,648 shares of the basic materials company’s stock worth $3,696,152,000 after acquiring an additional 3,168,740 shares during the period. Invesco Ltd. boosted its position in DuPont de Nemours by 6.7% during the 3rd 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 during the period. Northern Trust Corp boosted its position in DuPont de Nemours by 2.0% during the 3rd quarter. Northern Trust Corp now owns 5,245,939 shares of the basic materials company’s stock worth $391,295,000 after acquiring an additional 104,141 shares during the period. Putnam Investments LLC boosted its position in DuPont de Nemours by 3.2% during the 4th quarter. Putnam Investments LLC now owns 5,196,730 shares of the basic materials company’s stock worth $399,784,000 after acquiring an additional 159,438 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in DuPont de Nemours by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,602,213 shares of the basic materials company’s stock worth $200,192,000 after acquiring an additional 101,203 shares during the period. 73.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. BMO Capital Markets lowered DuPont de Nemours from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $80.00 to $72.00 in a research report on Wednesday, January 24th. Royal Bank of Canada upped their price objective on DuPont de Nemours from $75.00 to $83.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Barclays cut their price objective on DuPont de Nemours from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Monday, February 12th. TheStreet lowered DuPont de Nemours from a “b-” rating to a “c” rating in a report on Tuesday, February 6th. Finally, Bank of America lowered DuPont de Nemours from a “buy” rating to an “underperform” rating and upped their price objective for the company from $78.00 to $80.00 in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $77.90.

Insider Activity at DuPont de Nemours

In related news, insider Michael G. Goss sold 2,354 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $72.80, for a total transaction of $171,371.20. Following the transaction, the insider now directly owns 15,587 shares of the company’s stock, valued at $1,134,733.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by insiders.

DuPont de Nemours Trading Down 1.9 %

Shares of NYSE DD traded down $1.40 during mid-day trading on Tuesday, hitting $72.50. 3,329,374 shares of the company traded hands, compared to its average volume of 2,999,161. DuPont de Nemours, Inc. has a 1 year low of $61.14 and a 1 year high of $78.74. The stock has a market capitalization of $30.31 billion, a price-to-earnings ratio of 77.96, a PEG ratio of 2.42 and a beta of 1.40. The company has a quick ratio of 1.73, a current ratio of 2.43 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average of $73.43 and a two-hundred day moving average of $72.02.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Tuesday, February 6th. The basic materials company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. DuPont de Nemours had a return on equity of 6.12% and a net margin of 3.51%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the business posted $0.89 earnings per share. DuPont de Nemours’s revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that DuPont de Nemours, Inc. will post 3.49 earnings per share for the current fiscal year.

DuPont de Nemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, May 30th. DuPont de Nemours’s payout ratio is 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.