Invesco Ltd. Sells 320,034 Shares of DuPont de Nemours, Inc. (NYSE:DD)

Key Points

• Invesco Ltd. has reduced its stake in DuPont de Nemours by 4.4%, selling 320,034 shares, which leaves them with approximately 7 million shares valued at $524.7 million.
• DuPont reported quarterly earnings of $1.12 per share, surpassing estimates by $0.06, and its revenue rose by 2.7% year-over-year to $3.26 billion.
• The company declared a quarterly dividend of $0.41 per share, with the dividend yield at 2.3%, and will be paid on September 15th.

Invesco Ltd. reduced its holdings in DuPont de Nemours, Inc. (NYSE:DD - Free Report) by 4.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,026,628 shares of the basic materials company's stock after selling 320,034 shares during the quarter. Invesco Ltd. owned about 1.68% of DuPont de Nemours worth $524,749,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ritholtz Wealth Management boosted its position in shares of DuPont de Nemours by 48.8% during the first quarter. Ritholtz Wealth Management now owns 4,462 shares of the basic materials company's stock valued at $333,000 after purchasing an additional 1,464 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of DuPont de Nemours by 334.4% during the first quarter. Sequoia Financial Advisors LLC now owns 256,053 shares of the basic materials company's stock valued at $19,122,000 after purchasing an additional 197,115 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of DuPont de Nemours by 6.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 80,385 shares of the basic materials company's stock valued at $6,003,000 after purchasing an additional 4,995 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in DuPont de Nemours by 11.8% during the first quarter. Oppenheimer & Co. Inc. now owns 54,489 shares of the basic materials company's stock valued at $4,069,000 after buying an additional 5,751 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its stake in DuPont de Nemours by 37.4% during the first quarter. Summit Trail Advisors LLC now owns 23,923 shares of the basic materials company's stock valued at $1,787,000 after buying an additional 6,509 shares during the last quarter. 73.96% of the stock is currently owned by institutional investors.

DuPont de Nemours Stock Performance

DD stock traded up $2.09 during trading on Tuesday, reaching $71.99. The stock had a trading volume of 3,126,596 shares, compared to its average volume of 3,276,263. DuPont de Nemours, Inc. has a 52 week low of $53.77 and a 52 week high of $90.06. The stock's 50 day moving average is $71.47 and its two-hundred day moving average is $71.57. 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 firm has a market cap of $30.14 billion, a PE ratio of -153.17, a PEG ratio of 1.74 and a beta of 1.06.

DuPont de Nemours (NYSE:DD - Get Free Report) last posted its earnings results on Tuesday, August 5th. The basic materials company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.06. DuPont de Nemours had a positive return on equity of 7.85% and a negative net margin of 1.54%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the prior year, the company earned $0.97 earnings per share. DuPont de Nemours's revenue was up 2.7% on a year-over-year basis. As a group, equities analysts anticipate that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current year.

DuPont de Nemours Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 29th. DuPont de Nemours's payout ratio is currently -348.94%.

Analysts Set New Price Targets

DD has been the subject of a number of recent research reports. KeyCorp lifted their price objective on DuPont de Nemours from $87.00 to $92.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. UBS Group lifted their price objective on DuPont de Nemours from $87.00 to $89.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Barclays lowered their price objective on DuPont de Nemours from $89.00 to $73.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 29th. Citigroup boosted their price target on DuPont de Nemours from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Finally, Wells Fargo & Company boosted their price target on DuPont de Nemours from $81.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, DuPont de Nemours has a consensus rating of "Moderate Buy" and an average price target of $88.25.

DuPont de Nemours 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.