Parsons Capital Management Inc. RI Decreases Stock Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Parsons Capital Management Inc. RI trimmed its position in shares of DuPont de Nemours, Inc. (NYSE:DD) by 33.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,196 shares of the basic materials company’s stock after selling 1,577 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in DuPont de Nemours were worth $245,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. City State Bank increased its holdings in shares of DuPont de Nemours by 3.9% during the fourth quarter. City State Bank now owns 3,529 shares of the basic materials company’s stock valued at $271,000 after acquiring an additional 132 shares in the last quarter. Triangle Securities Wealth Management increased its holdings in shares of DuPont de Nemours by 0.7% during the first quarter. Triangle Securities Wealth Management now owns 18,995 shares of the basic materials company’s stock valued at $1,456,000 after acquiring an additional 134 shares in the last quarter. Laurel Wealth Advisors LLC increased its holdings in shares of DuPont de Nemours by 5.3% during the third quarter. Laurel Wealth Advisors LLC now owns 2,803 shares of the basic materials company’s stock valued at $209,000 after acquiring an additional 142 shares in the last quarter. Personal CFO Solutions LLC increased its holdings in shares of DuPont de Nemours by 2.4% during the third quarter. Personal CFO Solutions LLC now owns 6,174 shares of the basic materials company’s stock valued at $461,000 after acquiring an additional 147 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in DuPont de Nemours by 0.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 36,787 shares of the basic materials company’s stock worth $2,744,000 after buying an additional 160 shares during the period. 73.96% of the stock is owned by hedge funds and other institutional investors.

DuPont de Nemours Stock Performance

Shares of NYSE DD traded up $0.21 during midday trading on Friday, reaching $73.71. 2,144,799 shares of the stock were exchanged, compared to its average volume of 1,871,810. The firm has a market cap of $30.82 billion, a price-to-earnings ratio of 79.26, a PEG ratio of 2.42 and a beta of 1.40. DuPont de Nemours, Inc. has a twelve month low of $61.14 and a twelve month high of $78.74. The firm has a 50-day simple moving average of $73.23 and a two-hundred day simple moving average of $72.06. The company has a quick ratio of 1.73, a current ratio of 2.43 and a debt-to-equity ratio of 0.32.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Tuesday, February 6th. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the firm posted $0.89 EPS. The business’s revenue was down 6.6% on a year-over-year basis. As a group, analysts anticipate that DuPont de Nemours, Inc. will post 3.49 EPS for the current fiscal year.

DuPont de Nemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, May 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.06%. DuPont de Nemours’s dividend payout ratio (DPR) is 163.44%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DD shares. TheStreet downgraded shares of DuPont de Nemours from a “b-” rating to a “c” rating in a report on Tuesday, February 6th. Royal Bank of Canada increased their price target on shares of DuPont de Nemours from $75.00 to $83.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Citigroup increased their price target on shares of DuPont de Nemours from $73.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. increased their price target on shares of DuPont de Nemours from $76.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Finally, Wolfe Research started coverage on shares of DuPont de Nemours in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $77.90.

Insider Activity

In other news, insider Michael G. Goss sold 2,354 shares of the stock in a transaction that occurred 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 owns 15,587 shares in the company, valued at approximately $1,134,733.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.56% of the company’s stock.

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.