Sovereign Financial Group Inc. Purchases Shares of 2,708 DuPont de Nemours, Inc. (NYSE:DD)

Sovereign Financial Group Inc. acquired a new position in shares of DuPont de Nemours, Inc. (NYSE:DD) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,708 shares of the basic materials company’s stock, valued at approximately $208,000.

Other large investors have also made changes to their positions in the company. Northwest Financial Advisors purchased a new position in shares of DuPont de Nemours in the 4th quarter valued at $25,000. Cassady Schiller Wealth Management LLC raised its position in DuPont de Nemours by 153.5% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 431 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 261 shares during the period. Neo Ivy Capital Management acquired a new position in shares of DuPont de Nemours during the fourth quarter worth about $40,000. AlphaMark Advisors LLC purchased a new stake in shares of DuPont de Nemours in the fourth quarter worth about $41,000. Finally, Grove Bank & Trust grew its stake in shares of DuPont de Nemours by 55.1% in the fourth quarter. Grove Bank & Trust now owns 529 shares of the basic materials company’s stock valued at $41,000 after buying an additional 188 shares in the last quarter. 73.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Michael G. Goss sold 1,339 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $78.33, for a total transaction of $104,883.87. Following the sale, the insider now owns 14,012 shares of the company’s stock, valued at $1,097,559.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other DuPont de Nemours news, insider Leland Weaver sold 18,500 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $78.40, for a total value of $1,450,400.00. Following the sale, the insider now directly owns 24,476 shares in the company, valued at $1,918,918.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael G. Goss sold 1,339 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $78.33, for a total transaction of $104,883.87. Following the transaction, the insider now owns 14,012 shares of the company’s stock, valued at approximately $1,097,559.96. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BMO Capital Markets raised DuPont de Nemours from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $83.00 to $96.00 in a research report on Thursday, May 23rd. Jefferies Financial Group upgraded shares of DuPont de Nemours from a “hold” rating to a “buy” rating and upped their target price for the company from $78.00 to $101.00 in a research note on Friday, May 17th. Mizuho boosted their price objective on shares of DuPont de Nemours from $83.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Citigroup upgraded DuPont de Nemours from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $95.00 in a research note on Tuesday, May 28th. Finally, Wolfe Research assumed coverage on DuPont de Nemours in a report on Friday, March 1st. They issued a “peer perform” rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.09.

DuPont de Nemours Stock Performance

Shares of NYSE DD opened at $80.01 on Thursday. DuPont de Nemours, Inc. has a 12-month low of $61.14 and a 12-month high of $82.63. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.32. The company has a market cap of $33.45 billion, a PE ratio of 97.57, a P/E/G ratio of 2.51 and a beta of 1.36. The stock has a 50 day simple moving average of $78.68 and a 200-day simple moving average of $74.49.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.14. DuPont de Nemours had a return on equity of 6.07% and a net margin of 2.75%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the prior year, the business posted $0.84 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that DuPont de Nemours, Inc. will post 3.63 EPS for the current year.

DuPont de Nemours Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Friday, May 31st. DuPont de Nemours’s dividend payout ratio is currently 185.37%.

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.