Formidable Asset Management LLC Cuts Stock Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Formidable Asset Management LLC trimmed its position in shares of DuPont de Nemours, Inc. (NYSE:DD) by 15.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,317 shares of the basic materials company’s stock after selling 761 shares during the quarter. Formidable Asset Management LLC’s holdings in DuPont de Nemours were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DD. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of DuPont de Nemours by 22.4% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,008 shares of the basic materials company’s stock worth $464,000 after purchasing an additional 1,101 shares during the period. Nicholas Company Inc. raised its stake in DuPont de Nemours by 14.6% in the 1st quarter. Nicholas Company Inc. now owns 126,370 shares of the basic materials company’s stock valued at $9,766,000 after acquiring an additional 16,095 shares during the period. Alpha Paradigm Partners LLC bought a new stake in DuPont de Nemours in the 1st quarter valued at about $169,000. Moneta Group Investment Advisors LLC bought a new stake in DuPont de Nemours in the 1st quarter valued at about $383,000. Finally, Logan Capital Management Inc. raised its stake in DuPont de Nemours by 0.5% in the 1st quarter. Logan Capital Management Inc. now owns 24,901 shares of the basic materials company’s stock valued at $1,925,000 after acquiring an additional 134 shares during the period. Institutional investors own 70.55% of the company’s stock.

DD has been the subject of a number of recent analyst reports. Credit Suisse Group lifted their target price on DuPont de Nemours from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Wednesday, August 4th. JPMorgan Chase & Co. raised DuPont de Nemours from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $84.00 to $85.00 in a report on Monday, October 4th. They noted that the move was a valuation call. KeyCorp reissued a “buy” rating and set a $93.00 price objective on shares of DuPont de Nemours in a report on Thursday, September 16th. Wells Fargo & Company boosted their price objective on DuPont de Nemours from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, July 13th. Finally, Citigroup boosted their price objective on DuPont de Nemours from $96.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, August 4th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $88.39.

In other news, Director Luther C. Iv Kissam bought 5,000 shares of the stock in a transaction on Thursday, August 5th. The shares were bought at an average price of $75.94 per share, with a total value of $379,700.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rose Lee sold 26,448 shares of the stock in a transaction dated Tuesday, August 24th. The shares were sold at an average price of $74.37, for a total value of $1,966,937.76. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

NYSE DD opened at $71.93 on Wednesday. DuPont de Nemours, Inc. has a 12 month low of $55.22 and a 12 month high of $87.27. The stock has a market cap of $37.62 billion, a P/E ratio of 7.20, a P/E/G ratio of 1.54 and a beta of 1.50. The stock’s fifty day moving average price is $71.77 and its 200-day moving average price is $76.37. The company has a current ratio of 2.66, a quick ratio of 1.99 and a debt-to-equity ratio of 0.39.

DuPont de Nemours (NYSE:DD) last released its earnings results on Tuesday, August 3rd. The basic materials company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.12. DuPont de Nemours had a return on equity of 7.42% and a net margin of 32.59%. The firm had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was up 25.7% on a year-over-year basis. As a group, analysts forecast that DuPont de Nemours, Inc. will post 4.14 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Tuesday, November 30th will be paid a $0.30 dividend. The ex-dividend date is Monday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.67%. DuPont de Nemours’s dividend payout ratio is currently 35.71%.

About DuPont de Nemours

DuPont de Nemours, Inc operates as a holding company, which engages in the development of specialty materials, chemicals, and agricultural products. It operates through the following segments: Electronics & Imaging, Nutrition & Biosciences, Transportation & Industrial, Safety & Construction, and Non-Core.

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Institutional Ownership by Quarter for DuPont de Nemours (NYSE:DD)

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