Chesapeake Wealth Management Sells 400 Shares of DuPont de Nemours, Inc. (NYSE:DD)

Chesapeake Wealth Management reduced its position in DuPont de Nemours, Inc. (NYSE:DD) by 13.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,673 shares of the basic materials company’s stock after selling 400 shares during the period. Chesapeake Wealth Management’s holdings in DuPont de Nemours were worth $215,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of DD. Vanguard Group Inc. raised its holdings in shares of DuPont de Nemours by 7.1% in 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 last quarter. Norges Bank bought a new stake in DuPont de Nemours during the 4th quarter worth approximately $111,980,000. Jacobs Levy Equity Management Inc. raised its stake in shares of DuPont de Nemours by 403.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,421,685 shares of the basic materials company’s stock worth $109,001,000 after purchasing an additional 1,139,156 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of DuPont de Nemours in the second quarter valued at approximately $67,665,000. Finally, Ceredex Value Advisors LLC boosted its position in shares of DuPont de Nemours by 95.0% during the second quarter. Ceredex Value Advisors LLC now owns 1,165,164 shares of the basic materials company’s stock valued at $93,784,000 after buying an additional 567,732 shares during the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

DuPont de Nemours Trading Up 0.2 %

NYSE:DD opened at $83.34 on Friday. The company has a market cap of $34.84 billion, a P/E ratio of 101.63, a P/E/G ratio of 2.12 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 company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 1.44. The stock’s fifty day moving average price is $80.67 and its two-hundred day moving average price is $78.43.

DuPont de Nemours (NYSE:DD) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.85 by $0.12. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.05 billion. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. As a group, analysts expect that DuPont de Nemours, Inc. will post 3.74 EPS for the current year.

DuPont de Nemours Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Friday, August 30th. DuPont de Nemours’s dividend payout ratio (DPR) is presently 185.37%.

Wall Street Analyst Weigh In

DD has been the subject of a number of analyst reports. Barclays increased their price target on DuPont de Nemours from $81.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 28th. Wells Fargo & Company raised shares of DuPont de Nemours from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $80.00 to $103.00 in a research report on Friday, May 24th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of DuPont de Nemours from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Citigroup dropped their target price on shares of DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Finally, Royal Bank of Canada upped their target price on DuPont de Nemours from $87.00 to $102.00 and gave the company an “outperform” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.00.

DuPont de Nemours Company 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.