SouthState Corp Sells 260 Shares of DuPont de Nemours, Inc. (NYSE:DD)

SouthState Corp cut its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 8.3% in the 4th quarter, HoldingsChannel reports. The firm owned 2,860 shares of the basic materials company’s stock after selling 260 shares during the period. SouthState Corp’s holdings in DuPont de Nemours were worth $218,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DD. Hager Investment Management Services LLC bought a new stake in shares of DuPont de Nemours during the 4th quarter worth $26,000. Byrne Asset Management LLC bought a new stake in DuPont de Nemours during the fourth quarter worth about $29,000. Vision Financial Markets LLC bought a new stake in DuPont de Nemours during the fourth quarter worth about $31,000. Golden State Wealth Management LLC purchased a new position in shares of DuPont de Nemours in the 4th quarter worth about $33,000. Finally, Noble Wealth Management PBC bought a new position in shares of DuPont de Nemours during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Price Performance

Shares of DD stock opened at $77.80 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 1.33. DuPont de Nemours, Inc. has a fifty-two week low of $72.38 and a fifty-two week high of $90.06. The firm has a market cap of $32.52 billion, a P/E ratio of 46.58, a P/E/G ratio of 2.15 and a beta of 1.29. The business’s 50 day moving average price is $78.25 and its 200-day moving average price is $81.07.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings results on Tuesday, February 11th. The basic materials company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.15. DuPont de Nemours had a net margin of 5.47% and a return on equity of 7.12%. On average, equities research analysts anticipate that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current year.

DuPont de Nemours Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.41 dividend. This is an increase from DuPont de Nemours’s previous quarterly dividend of $0.38. This represents a $1.64 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Monday, March 3rd. DuPont de Nemours’s dividend payout ratio is presently 98.20%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DD shares. JPMorgan Chase & Co. cut their target price on DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Wells Fargo & Company reduced their target price on shares of DuPont de Nemours from $107.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, February 12th. StockNews.com cut shares of DuPont de Nemours from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Royal Bank of Canada cut their price target on shares of DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, Barclays upgraded DuPont de Nemours from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $85.00 to $89.00 in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, DuPont de Nemours presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.17.

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.