PNC Financial Services Group Inc. Sells 21,863 Shares of DuPont de Nemours, Inc. (NYSE:DD)

PNC Financial Services Group Inc. cut its stake in DuPont de Nemours, Inc. (NYSE:DD - Free Report) by 2.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 835,694 shares of the basic materials company's stock after selling 21,863 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.20% of DuPont de Nemours worth $74,469,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in DuPont de Nemours in the third quarter valued at approximately $971,000. First City Capital Management Inc. bought a new stake in DuPont de Nemours in the third quarter worth $219,000. Fifth Third Wealth Advisors LLC increased its position in DuPont de Nemours by 10.5% during the third quarter. Fifth Third Wealth Advisors LLC now owns 9,365 shares of the basic materials company's stock worth $835,000 after buying an additional 890 shares during the last quarter. Prospera Financial Services Inc raised its holdings in DuPont de Nemours by 15.4% during the third quarter. Prospera Financial Services Inc now owns 73,103 shares of the basic materials company's stock valued at $6,514,000 after buying an additional 9,760 shares in the last quarter. Finally, Whalen Wealth Management Inc. acquired a new stake in shares of DuPont de Nemours in the third quarter worth about $501,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

DuPont de Nemours Stock Performance

DD stock traded up $0.49 during midday trading on Wednesday, hitting $81.85. The stock had a trading volume of 1,421,537 shares, compared to its average volume of 2,477,795. The firm has a market capitalization of $34.21 billion, a price-to-earnings ratio of 43.08, a P/E/G ratio of 1.96 and a beta of 1.35. The company has a current ratio of 2.28, a quick ratio of 1.49 and a debt-to-equity ratio of 0.29. The stock has a 50-day simple moving average of $84.55 and a 200 day simple moving average of $81.68. DuPont de Nemours, Inc. has a 52 week low of $61.14 and a 52 week high of $90.06.

DuPont de Nemours (NYSE:DD - Get Free Report) last posted its earnings results on Tuesday, November 5th. The basic materials company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.15. The business had revenue of $3.19 billion for the quarter, compared to analysts' expectations of $3.20 billion. DuPont de Nemours had a net margin of 6.35% and a return on equity of 6.64%. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share. As a group, equities research analysts anticipate that DuPont de Nemours, Inc. will post 3.91 earnings per share for the current year.

DuPont de Nemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 1.86%. DuPont de Nemours's dividend payout ratio is currently 80.00%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DD. Deutsche Bank Aktiengesellschaft raised their price objective on DuPont de Nemours from $92.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Barclays upped their price objective on shares of DuPont de Nemours from $84.00 to $85.00 and gave the stock an "underweight" rating in a report on Wednesday, November 6th. Royal Bank of Canada boosted their target price on shares of DuPont de Nemours from $102.00 to $104.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their price target on DuPont de Nemours from $105.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley boosted their price objective on DuPont de Nemours from $88.00 to $94.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.42.

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.