Parsec Financial Management Inc. raised its stake in shares of DuPont Co. (NYSE:DD) by 3.7% during the second quarter, Holdings Channel reports. The firm owned 5,254 shares of the company’s stock after buying an additional 188 shares during the period. Parsec Financial Management Inc.’s holdings in DuPont were worth $340,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Union Bankshares Corp increased its stake in shares of DuPont by 0.7% in the second quarter. Union Bankshares Corp now owns 4,497 shares of the company’s stock worth $291,000 after buying an additional 32 shares during the last quarter. Wagner Bowman Management Corp increased its stake in shares of DuPont by 1.9% in the second quarter. Wagner Bowman Management Corp now owns 3,995 shares of the company’s stock worth $258,000 after buying an additional 75 shares during the last quarter. Pitcairn Co. increased its stake in shares of DuPont by 1.1% in the second quarter. Pitcairn Co. now owns 7,087 shares of the company’s stock worth $459,000 after buying an additional 77 shares during the last quarter. Investment House LLC increased its stake in shares of DuPont by 1.4% in the second quarter. Investment House LLC now owns 5,909 shares of the company’s stock worth $383,000 after buying an additional 84 shares during the last quarter. Finally, Conning Inc. increased its stake in shares of DuPont by 0.3% in the second quarter. Conning Inc. now owns 40,289 shares of the company’s stock worth $2,611,000 after buying an additional 110 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.
Shares of DuPont Co. (NYSE:DD) traded down 0.48% during mid-day trading on Tuesday, hitting $68.61. 1,022,745 shares of the stock traded hands. DuPont Co. has a 52 week low of $50.71 and a 52 week high of $75.72. The stock has a market cap of $59.99 billion, a price-to-earnings ratio of 27.29 and a beta of 1.78. The firm’s 50-day moving average is $68.38 and its 200-day moving average is $66.78.
DuPont (NYSE:DD) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.14. DuPont had a return on equity of 24.59% and a net margin of 9.01%. The company earned $7.10 billion during the quarter, compared to analyst estimates of $7.01 billion. During the same quarter in the previous year, the firm earned $1.18 earnings per share. DuPont’s revenue was down .8% on a year-over-year basis. On average, analysts forecast that DuPont Co. will post $3.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Monday, August 15th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, August 11th. DuPont’s dividend payout ratio is currently 60.32%.
A number of brokerages have issued reports on DD. Citigroup Inc. upgraded shares of DuPont from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $72.00 to $76.00 in a research note on Monday, October 3rd. Zacks Investment Research cut shares of DuPont from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Deutsche Bank AG increased their target price on shares of DuPont from $55.00 to $56.00 and gave the stock a “sell” rating in a report on Friday, August 12th. Barclays PLC reissued a “neutral” rating on shares of DuPont in a report on Thursday, July 28th. Finally, TheStreet cut shares of DuPont from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $70.73.
In other DuPont news, insider James C. Jr. Collins sold 50,316 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $70.30, for a total value of $3,537,214.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher Marc Doyle sold 5,422 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $69.53, for a total value of $376,991.66. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.
DuPont Company Profile
E. I. du Pont de Nemours and Company (DuPont) is a science and technology-based company. The Company consists of over 10 businesses aggregated into six segments: Agriculture, Electronics & Communications, Industrial Biosciences, Nutrition & Health, Performance Materials and Safety & Protection. Its products include corn hybrids and soybean varieties, herbicides, fungicides and insecticides in Agriculture segment; photopolymers and electronic materials in Electronics & Communications segment; enzymes and bio-based materials in Industrial Biosciences segment; cultures, emulsifiers, texturants, natural sweeteners and soy-based food ingredients in Nutrition & Health segment; engineering polymers, packaging and industrial polymers, films and elastomers in Performance Materials segment, and nonwovens, aramids and solid surfaces in Safety & Protection segment.
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