Meridian Investment Counsel Inc. Trims Stake in DuPont de Nemours, Inc. (NYSE:DD)

Meridian Investment Counsel Inc. cut its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,015 shares of the basic materials company’s stock after selling 275 shares during the period. DuPont de Nemours comprises about 1.1% of Meridian Investment Counsel Inc.’s investment portfolio, making the stock its 25th biggest position. Meridian Investment Counsel Inc.’s holdings in DuPont de Nemours were worth $3,566,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Legal & General Group Plc raised its position in shares of DuPont de Nemours by 0.7% during the 2nd quarter. Legal & General Group Plc now owns 3,863,144 shares of the basic materials company’s stock valued at $310,945,000 after purchasing an additional 25,857 shares during the period. Canada Pension Plan Investment Board raised its stake in DuPont de Nemours by 34.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,542,045 shares of the basic materials company’s stock valued at $118,229,000 after purchasing an additional 391,400 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in DuPont de Nemours by 403.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,421,685 shares of the basic materials company’s stock valued at $109,001,000 after buying an additional 1,139,156 shares in the last quarter. Ceredex Value Advisors LLC lifted its holdings in shares of DuPont de Nemours by 3.9% in the third quarter. Ceredex Value Advisors LLC now owns 1,210,472 shares of the basic materials company’s stock worth $107,865,000 after buying an additional 45,308 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of DuPont de Nemours during the second quarter valued at about $83,540,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised their price objective on DuPont de Nemours from $102.00 to $104.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company lifted their price objective on shares of DuPont de Nemours from $105.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Barclays upped their target price on DuPont de Nemours from $84.00 to $85.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley raised their price target on shares of DuPont de Nemours from $88.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.42.

DuPont de Nemours Stock Down 1.5 %

DuPont de Nemours stock opened at $81.85 on Friday. DuPont de Nemours, Inc. has a 1-year low of $61.14 and a 1-year high of $90.06. The business has a fifty day moving average price of $84.43 and a 200-day moving average price of $81.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.28 and a quick ratio of 1.49. The stock has a market capitalization of $34.21 billion, a price-to-earnings ratio of 43.08, a PEG ratio of 1.99 and a beta of 1.35.

DuPont de Nemours (NYSE:DD) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.15. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.20 billion. DuPont de Nemours had a return on equity of 6.64% and a net margin of 6.35%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. Equities research analysts forecast that DuPont de Nemours, Inc. will post 3.91 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, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Friday, November 29th. DuPont de Nemours’s dividend payout ratio (DPR) is presently 80.00%.

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.