King Luther Capital Management Corp Has $18.32 Million Position in DuPont de Nemours, Inc. (NYSE:DD)

Key Points

• King Luther Capital Management Corp has reduced its stake in DuPont by 8.6%, selling 22,966 shares during the first quarter, now holding approximately 0.06% of the company.
• Analyst ratings for DuPont have been mixed, with Bank of America changing its rating to neutral and setting a new price target of $75, while Citigroup and JPMorgan Chase raised their targets to $85 and $93, respectively.
• DuPont announced a quarterly dividend of $0.41 per share on September 15, yielding 2.3%, despite a negative payout ratio of -348.94%.

King Luther Capital Management Corp reduced its position in shares of DuPont de Nemours, Inc. (NYSE:DD - Free Report) by 8.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 245,302 shares of the basic materials company's stock after selling 22,966 shares during the period. King Luther Capital Management Corp owned 0.06% of DuPont de Nemours worth $18,319,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Marshall Wace LLP increased its stake in shares of DuPont de Nemours by 228.8% in the fourth quarter. Marshall Wace LLP now owns 1,471,730 shares of the basic materials company's stock worth $112,219,000 after buying an additional 1,024,075 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of DuPont de Nemours by 87.1% in the first quarter. Assenagon Asset Management S.A. now owns 1,980,833 shares of the basic materials company's stock worth $147,929,000 after buying an additional 922,387 shares during the last quarter. Northern Trust Corp increased its stake in shares of DuPont de Nemours by 16.3% in the fourth quarter. Northern Trust Corp now owns 4,931,816 shares of the basic materials company's stock worth $376,051,000 after buying an additional 690,218 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of DuPont de Nemours in the fourth quarter worth $50,063,000. Finally, GAMMA Investing LLC increased its stake in shares of DuPont de Nemours by 7,327.1% in the first quarter. GAMMA Investing LLC now owns 610,882 shares of the basic materials company's stock worth $45,621,000 after buying an additional 602,657 shares during the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DD. UBS Group boosted their target price on shares of DuPont de Nemours from $87.00 to $89.00 and gave the company a "buy" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. upped their price target on shares of DuPont de Nemours from $78.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Morgan Stanley cut their price target on shares of DuPont de Nemours from $94.00 to $80.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. Barclays cut their price target on shares of DuPont de Nemours from $89.00 to $73.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th. Finally, Wells Fargo & Company upped their price objective on shares of DuPont de Nemours from $81.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, DuPont de Nemours currently has an average rating of "Moderate Buy" and an average price target of $88.25.

DuPont de Nemours Stock Up 3.0%

Shares of DD traded up $2.09 during trading hours on Tuesday, reaching $71.99. The company's stock had a trading volume of 3,126,596 shares, compared to its average volume of 3,276,263. The firm has a market cap of $30.14 billion, a price-to-earnings ratio of -153.17, a P/E/G ratio of 1.74 and a beta of 1.06. DuPont de Nemours, Inc. has a 1-year low of $53.77 and a 1-year high of $90.06. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $71.47 and a two-hundred day moving average of $71.57.

DuPont de Nemours (NYSE:DD - Get Free Report) last issued 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. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.23 billion. DuPont de Nemours had a positive return on equity of 7.85% and a negative net margin of 1.54%. The firm's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 EPS. As a group, research analysts predict that DuPont de Nemours, Inc. will post 4.38 EPS for the current fiscal year.

DuPont de Nemours Dividend Announcement

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

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.