Easterly Investment Partners LLC Purchases 62,363 Shares of DuPont de Nemours, Inc. $DD

Key Points

• Easterly Investment Partners LLC significantly increased its stake in DuPont de Nemours, acquiring an additional 62,363 shares, bringing its total holdings to 123,711 shares valued at approximately $8.49 million.
• Analyst ratings for DuPont have shown a positive trend, with several firms raising their price targets, including Wells Fargo and JPMorgan, while the stock currently has a consensus rating of "Moderate Buy".
• Insider transactions revealed that SVP Steven P. Larrabee sold 43,208 shares of DuPont stock recently, indicating a decrease in insider ownership as well as a larger trend of insider selling in the past 90 days.

Easterly Investment Partners LLC grew its position in DuPont de Nemours, Inc. (NYSE:DD - Free Report) by 101.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,711 shares of the basic materials company's stock after purchasing an additional 62,363 shares during the period. Easterly Investment Partners LLC's holdings in DuPont de Nemours were worth $8,485,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Arista Wealth Management LLC bought a new stake in DuPont de Nemours during the second quarter worth about $603,000. Praxis Investment Management Inc. raised its holdings in DuPont de Nemours by 16.9% during the second quarter. Praxis Investment Management Inc. now owns 7,128 shares of the basic materials company's stock worth $489,000 after acquiring an additional 1,030 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in DuPont de Nemours by 150.1% during the second quarter. Rosenberg Matthew Hamilton now owns 2,293 shares of the basic materials company's stock worth $157,000 after acquiring an additional 1,376 shares in the last quarter. Mutual Advisors LLC raised its holdings in DuPont de Nemours by 1.7% during the second quarter. Mutual Advisors LLC now owns 10,490 shares of the basic materials company's stock worth $795,000 after acquiring an additional 176 shares in the last quarter. Finally, Harbour Investments Inc. raised its holdings in DuPont de Nemours by 3.3% during the second quarter. Harbour Investments Inc. now owns 6,007 shares of the basic materials company's stock worth $412,000 after acquiring an additional 190 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DD has been the topic of several analyst reports. Wells Fargo & Company upped their target price on DuPont de Nemours from $81.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Citigroup upped their price objective on DuPont de Nemours from $85.00 to $93.00 in a research note on Friday, September 19th. Royal Bank Of Canada restated an "outperform" rating and issued a $94.00 price objective on shares of DuPont de Nemours in a research note on Friday, September 19th. JPMorgan Chase & Co. upped their price objective on DuPont de Nemours from $99.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Zacks Research lowered DuPont de Nemours from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.25.

Insider Transactions at DuPont de Nemours

In related news, SVP Steven P. Larrabee sold 43,208 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $77.17, for a total transaction of $3,334,361.36. Following the sale, the senior vice president owned 38,585 shares of the company's stock, valued at $2,977,604.45. This represents a 52.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 74,208 shares of company stock worth $5,714,861 over the last 90 days. Corporate insiders own 0.61% of the company's stock.

DuPont de Nemours Price Performance

DuPont de Nemours stock opened at $78.01 on Friday. The company has a market capitalization of $32.66 billion, a price-to-earnings ratio of -165.98, a PEG ratio of 2.27 and a beta of 1.08. DuPont de Nemours, Inc. has a 12 month low of $53.77 and a 12 month high of $87.80. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23. The stock's 50 day moving average is $76.52 and its 200-day moving average is $71.12.

DuPont de Nemours (NYSE:DD - Get Free Report) last issued its quarterly earnings results on Monday, July 11th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter. The business had revenue of $3.02 billion for the quarter. DuPont de Nemours had a positive return on equity of 7.85% and a negative net margin of 1.54%. Equities research analysts expect that DuPont de Nemours, Inc. will post 4.38 EPS for the current year.

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.

Want to see what other hedge funds are holding DD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DuPont de Nemours, Inc. (NYSE:DD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.