Commerce Bank Sells 1,606 Shares of DuPont de Nemours, Inc. (NYSE:DD)

Commerce Bank cut its position in shares of DuPont de Nemours, Inc. (NYSE:DD) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,298 shares of the basic materials company’s stock after selling 1,606 shares during the period. Commerce Bank’s holdings in DuPont de Nemours were worth $4,838,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in DD. Sequoia Financial Advisors LLC boosted its stake in DuPont de Nemours by 236.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,612 shares of the basic materials company’s stock worth $3,269,000 after purchasing an additional 28,553 shares in the last quarter. Canandaigua National Bank & Trust Co. purchased a new stake in DuPont de Nemours in the second quarter valued at approximately $1,610,000. Cetera Investment Advisers raised its position in DuPont de Nemours by 186.5% during the 1st quarter. Cetera Investment Advisers now owns 87,364 shares of the basic materials company’s stock worth $6,698,000 after buying an additional 56,870 shares during the last quarter. Appian Way Asset Management LP acquired a new stake in DuPont de Nemours during the 2nd quarter valued at approximately $2,978,000. Finally, BDF Gestion acquired a new stake in shares of DuPont de Nemours in the second quarter worth $2,612,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

DuPont de Nemours Stock Performance

NYSE DD opened at $82.95 on Friday. The stock’s 50 day simple moving average is $84.60 and its 200-day simple moving average is $81.69. DuPont de Nemours, Inc. has a 1-year low of $61.14 and a 1-year high of $90.06. 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 company has a market cap of $34.67 billion, a PE ratio of 43.66, a price-to-earnings-growth ratio of 1.94 and a beta of 1.35.

DuPont de Nemours (NYSE:DD) last issued its earnings results on Tuesday, November 5th. The basic materials company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.15. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.20 billion. DuPont de Nemours had a net margin of 6.35% and a return on equity of 6.64%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 earnings per share. As a group, equities research analysts anticipate that DuPont de Nemours, Inc. will post 3.91 EPS for the current fiscal year.

DuPont de Nemours Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Friday, November 29th. DuPont de Nemours’s dividend payout ratio is currently 80.00%.

Wall Street Analyst Weigh In

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

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.