PNC Financial Services Group Inc. Has $58.64 Million Stake in DuPont de Nemours, Inc. (NYSE:DD)

Key Points

• PNC Financial Services has reduced its holdings in DuPont de Nemours by 3.6%, selling 29,096 shares and now owning approximately 0.19% of the company, valued at $58.6 million.
• Several institutional investors, including Ritholtz Wealth Management and Sequoia Financial Advisors, have significantly increased their positions in DuPont, reflecting strong interest in the stock.
• DuPont recently reported $1.03 EPS for the last quarter, exceeding analyst expectations, and announced a quarterly dividend of $0.41 per share, set to be paid on September 15th.

PNC Financial Services Group Inc. lowered its position in DuPont de Nemours, Inc. (NYSE:DD - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 785,248 shares of the basic materials company's stock after selling 29,096 shares during the quarter. PNC Financial Services Group Inc. owned about 0.19% of DuPont de Nemours worth $58,642,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in DuPont de Nemours by 19.6% during the fourth quarter. Brighton Jones LLC now owns 5,012 shares of the basic materials company's stock valued at $382,000 after purchasing an additional 822 shares in the last quarter. Headlands Technologies LLC increased its position in DuPont de Nemours by 126.9% during the 4th quarter. Headlands Technologies LLC now owns 2,015 shares of the basic materials company's stock valued at $154,000 after buying an additional 1,127 shares in the last quarter. World Investment Advisors purchased a new position in DuPont de Nemours in the 4th quarter worth approximately $307,000. Thoroughbred Financial Services LLC raised its holdings in DuPont de Nemours by 2.1% in the 4th quarter. Thoroughbred Financial Services LLC now owns 8,249 shares of the basic materials company's stock worth $628,000 after acquiring an additional 167 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in DuPont de Nemours by 2.1% during the fourth quarter. Wells Fargo & Company MN now owns 1,375,152 shares of the basic materials company's stock valued at $104,855,000 after purchasing an additional 28,803 shares during the period. 73.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays dropped their price objective 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. Morgan Stanley decreased their target price on DuPont de Nemours from $94.00 to $80.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. JPMorgan Chase & Co. upped their target price on DuPont de Nemours from $78.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. KeyCorp boosted their target price on shares of DuPont de Nemours from $87.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Citigroup lifted their price target on DuPont de Nemours from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, DuPont de Nemours currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.92.

DuPont de Nemours Stock Up 0.1%

DD traded up $0.05 on Thursday, reaching $70.85. 3,136,660 shares of the company traded hands, compared to its average volume of 2,956,357. The stock's 50 day moving average price is $71.19 and its 200-day moving average price is $71.81. DuPont de Nemours, Inc. has a 52-week low of $53.77 and a 52-week high of $90.06. The company has a market cap of $29.65 billion, a price-to-earnings ratio of -150.75, a PEG ratio of 2.00 and a beta of 1.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.41 and a quick ratio of 0.91.

DuPont de Nemours (NYSE:DD - Get Free Report) last released its earnings results on Tuesday, August 5th. The basic materials company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. DuPont de Nemours had a negative net margin of 1.54% and a positive return on equity of 7.85%. The business had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.23 billion. During the same quarter last year, the company earned $0.97 earnings per share. The firm's revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that DuPont de Nemours, Inc. will post 4.38 EPS for the current fiscal year.

DuPont de Nemours Announces Dividend

The business also recently declared 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. This represents a $1.64 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, August 29th. DuPont de Nemours's dividend payout ratio is -863.16%.

DuPont de Nemours Company 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.