TCW Group Inc. Trims Stock Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Key Points

• TCW Group Inc. reduced its holdings in DuPont de Nemours by 2.1% in the first quarter, leaving it with 665,207 shares valued at approximately $49.68 million.
• DuPont reported a quarterly EPS of $1.03, surpassing analyst expectations of $0.95, with revenues reaching $3.07 billion, a year-over-year increase of 4.6%.
• The company announced a quarterly dividend of $0.41 per share, with a dividend yield of 2.16%, payable to stockholders on September 15th.

TCW Group Inc. lowered its stake in DuPont de Nemours, Inc. (NYSE:DD - Free Report) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 665,207 shares of the basic materials company's stock after selling 14,487 shares during the quarter. TCW Group Inc. owned approximately 0.16% of DuPont de Nemours worth $49,678,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Franklin Resources Inc. grew its position in DuPont de Nemours by 7.5% during the fourth quarter. Franklin Resources Inc. now owns 6,894,207 shares of the basic materials company's stock worth $525,683,000 after buying an additional 483,722 shares in the last quarter. Northern Trust Corp grew its position in DuPont de Nemours by 16.3% during 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 in the last quarter. Price T Rowe Associates Inc. MD grew its position in DuPont de Nemours by 10.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,413,443 shares of the basic materials company's stock worth $260,276,000 after buying an additional 336,000 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in DuPont de Nemours by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 3,347,098 shares of the basic materials company's stock worth $249,961,000 after purchasing an additional 37,327 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in DuPont de Nemours by 15.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,107,025 shares of the basic materials company's stock worth $236,909,000 after purchasing an additional 417,359 shares during the last quarter. Institutional investors and hedge funds own 73.96% of the company's stock.

DuPont de Nemours Stock Performance

Shares of DuPont de Nemours stock traded down $0.14 during mid-day trading on Thursday, hitting $72.07. 1,232,886 shares of the stock were exchanged, compared to its average volume of 2,877,768. DuPont de Nemours, Inc. has a 12 month low of $53.77 and a 12 month high of $90.06. The company has a 50-day simple moving average of $70.88 and a 200 day simple moving average of $71.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 1.40. The company has a market capitalization of $30.16 billion, a P/E ratio of -379.48, a P/E/G ratio of 2.11 and a beta of 1.04.

DuPont de Nemours (NYSE:DD - Get Free Report) last posted its earnings results on Friday, May 2nd. The basic materials company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.95 by $0.08. DuPont de Nemours had a negative net margin of 0.60% and a positive return on equity of 7.58%. The firm had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $3.05 billion. During the same quarter last year, the firm earned $0.79 EPS. The company's quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts anticipate that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current fiscal year.

DuPont de Nemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 2.28%. DuPont de Nemours's dividend payout ratio (DPR) is presently -863.16%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DD shares. Bank of America upgraded DuPont de Nemours from an "underperform" rating to a "neutral" rating and dropped their price target for the company from $80.00 to $75.00 in a research note on Tuesday, April 15th. UBS Group increased their price target 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 target price on DuPont de Nemours from $89.00 to $73.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 29th. Citigroup increased their price target on DuPont de Nemours from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Finally, Morgan Stanley decreased their price target on 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. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.31.

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.