Levin Capital Strategies L.P. Decreases Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Levin Capital Strategies L.P. lowered its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 77.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,000 shares of the basic materials company’s stock after selling 13,500 shares during the quarter. Levin Capital Strategies L.P.’s holdings in DuPont de Nemours were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Choreo LLC increased its position in DuPont de Nemours by 338.2% in the second quarter. Choreo LLC now owns 28,723 shares of the basic materials company’s stock worth $2,279,000 after buying an additional 22,168 shares during the last quarter. Wedbush Securities Inc. increased its holdings in DuPont de Nemours by 5.0% in the 2nd quarter. Wedbush Securities Inc. now owns 6,517 shares of the basic materials company’s stock worth $525,000 after acquiring an additional 312 shares during the last quarter. Prudential PLC raised its stake in DuPont de Nemours by 61.6% in the 2nd quarter. Prudential PLC now owns 7,785 shares of the basic materials company’s stock valued at $627,000 after acquiring an additional 2,967 shares during the period. PFG Investments LLC lifted its holdings in DuPont de Nemours by 5.0% during the second quarter. PFG Investments LLC now owns 10,403 shares of the basic materials company’s stock valued at $837,000 after purchasing an additional 492 shares during the last quarter. Finally, Quest Partners LLC boosted its position in DuPont de Nemours by 53,729.4% during the second quarter. Quest Partners LLC now owns 9,151 shares of the basic materials company’s stock worth $737,000 after purchasing an additional 9,134 shares during the period. Institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Stock Performance

Shares of NYSE DD opened at $79.56 on Tuesday. The stock has a market cap of $33.23 billion, a price-to-earnings ratio of 97.03, a P/E/G ratio of 2.10 and a beta of 1.33. DuPont de Nemours, Inc. has a 1-year low of $61.14 and a 1-year high of $85.12. The stock’s 50-day moving average is $80.33 and its 200 day moving average is $77.89. The company has a current ratio of 2.21, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30.

DuPont de Nemours (NYSE:DD) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.12. The firm 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 business’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business earned $0.85 earnings per share. On average, sell-side analysts anticipate that DuPont de Nemours, Inc. will post 3.74 EPS for the current fiscal year.

DuPont de Nemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.38 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.91%. DuPont de Nemours’s dividend payout ratio is currently 185.37%.

Analysts Set New Price Targets

DD has been the topic of several research reports. BMO Capital Markets raised shares of DuPont de Nemours from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $83.00 to $96.00 in a research report on Thursday, May 23rd. Jefferies Financial Group raised DuPont de Nemours from a “hold” rating to a “buy” rating and increased their price objective for the stock from $78.00 to $101.00 in a report on Friday, May 17th. Barclays lifted their target price on DuPont de Nemours from $81.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. Royal Bank of Canada increased their price target on shares of DuPont de Nemours from $87.00 to $102.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company raised shares of DuPont de Nemours from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $80.00 to $103.00 in a research note on Friday, May 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

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.