Principal Financial Group Inc. Reduces Stock Position in DuPont de Nemours, Inc. (NYSE:DD)

Principal Financial Group Inc. trimmed its stake in shares of DuPont de Nemours, Inc. (NYSE:DD - Free Report) by 7.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 490,437 shares of the basic materials company's stock after selling 40,669 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of DuPont de Nemours worth $37,729,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Lido Advisors LLC increased its position in DuPont de Nemours by 10.4% in the 3rd quarter. Lido Advisors LLC now owns 17,033 shares of the basic materials company's stock valued at $1,270,000 after acquiring an additional 1,609 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new position in shares of DuPont de Nemours during the 4th quarter valued at $1,859,000. Premier Path Wealth Partners LLC acquired a new position in shares of DuPont de Nemours during the 4th quarter valued at $1,031,000. abrdn plc increased its position in shares of DuPont de Nemours by 30.9% during the 4th quarter. abrdn plc now owns 404,803 shares of the basic materials company's stock valued at $31,141,000 after purchasing an additional 95,505 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new position in shares of DuPont de Nemours during the 4th quarter valued at $2,000,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Michael G. Goss sold 1,339 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $78.33, for a total transaction of $104,883.87. Following the completion of the sale, the insider now directly owns 14,012 shares in the company, valued at $1,097,559.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other DuPont de Nemours news, insider Michael G. Goss sold 1,339 shares of the firm's stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $78.33, for a total transaction of $104,883.87. Following the transaction, the insider now directly owns 14,012 shares in the company, valued at $1,097,559.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Leland Weaver sold 18,500 shares of the firm's stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $78.40, for a total value of $1,450,400.00. Following the transaction, the insider now owns 24,476 shares in the company, valued at $1,918,918.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,193 shares of company stock worth $1,726,655. Corporate insiders own 0.56% of the company's stock.

DuPont de Nemours Stock Up 3.0 %

Shares of DuPont de Nemours stock traded up $2.34 during midday trading on Friday, hitting $79.91. The company's stock had a trading volume of 2,770,860 shares, compared to its average volume of 2,924,452. The firm has a market capitalization of $33.41 billion, a P/E ratio of 97.45, a PEG ratio of 2.26 and a beta of 1.39. The stock has a 50-day simple moving average of $75.50 and a 200-day simple moving average of $72.46. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.32. DuPont de Nemours, Inc. has a 1-year low of $61.14 and a 1-year high of $79.92.

DuPont de Nemours (NYSE:DD - Get Free Report) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.65 by $0.14. The business had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.81 billion. DuPont de Nemours had a return on equity of 6.07% and a net margin of 2.75%. DuPont de Nemours's revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 earnings per share. As a group, sell-side analysts expect that DuPont de Nemours, Inc. will post 3.64 earnings per share for the current year.

DuPont de Nemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.52 annualized dividend and a dividend yield of 1.90%. DuPont de Nemours's dividend payout ratio is 185.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TheStreet cut DuPont de Nemours from a "b-" rating to a "c" rating in a research report on Tuesday, February 6th. Wells Fargo & Company lifted their price target on DuPont de Nemours from $69.00 to $80.00 and gave the company an "equal weight" rating in a research report on Thursday, April 11th. Jefferies Financial Group upgraded DuPont de Nemours from a "hold" rating to a "buy" rating and lifted their price target for the company from $78.00 to $101.00 in a research report on Friday. Citigroup lifted their price target on DuPont de Nemours from $73.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, April 10th. Finally, Mizuho raised their price objective on DuPont de Nemours from $76.00 to $83.00 and gave the stock a "buy" rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $82.10.

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.