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Illinois Municipal Retirement Fund Sells 5,197 Shares of DuPont de Nemours, Inc. (NYSE:DD)
Posted by Max Byerly on Jan 24th, 2023
Illinois Municipal Retirement Fund reduced its position in shares of DuPont de Nemours, Inc. (NYSE:DD – Get Rating) by 25.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,887 shares of the basic materials company's stock after selling 5,197 shares during the quarter. Illinois Municipal Retirement Fund's holdings in DuPont de Nemours were worth $750,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in DuPont de Nemours by 10.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 330,614 shares of the basic materials company's stock valued at $16,663,000 after buying an additional 31,943 shares during the last quarter. Kentucky Retirement Systems increased its position in DuPont de Nemours by 15.4% during the 2nd quarter. Kentucky Retirement Systems now owns 37,742 shares of the basic materials company's stock valued at $2,098,000 after purchasing an additional 5,049 shares during the period. Asset Dedication LLC increased its position in DuPont de Nemours by 12.1% during the 2nd quarter. Asset Dedication LLC now owns 19,891 shares of the basic materials company's stock valued at $1,110,000 after purchasing an additional 2,142 shares during the period. SG Americas Securities LLC increased its position in DuPont de Nemours by 159.4% during the 3rd quarter. SG Americas Securities LLC now owns 56,089 shares of the basic materials company's stock valued at $2,827,000 after purchasing an additional 34,465 shares during the period. Finally, Legacy Wealth Asset Management LLC increased its position in DuPont de Nemours by 1.7% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 13,532 shares of the basic materials company's stock valued at $752,000 after purchasing an additional 223 shares during the period. 71.91% of the stock is currently owned by institutional investors.
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Wall Street Analyst Weigh In
DD has been the topic of a number of research analyst reports. KeyCorp reduced their price objective on shares of DuPont de Nemours from $82.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 4th. Mizuho boosted their price objective on shares of DuPont de Nemours from $82.00 to $83.00 and gave the company a "buy" rating in a research report on Thursday, January 12th. Citigroup boosted their price objective on shares of DuPont de Nemours from $75.00 to $82.00 and gave the company a "buy" rating in a research report on Thursday, December 15th. BMO Capital Markets boosted their price objective on shares of DuPont de Nemours from $80.00 to $88.00 and gave the company an "outperform" rating in a research report on Wednesday, November 9th. Finally, StockNews.com assumed coverage on shares of DuPont de Nemours in a research report on Wednesday, October 12th. They issued a "hold" rating on the stock. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $76.79.
DuPont de Nemours Stock Performance
Shares of DD stock opened at $75.30 on Tuesday. DuPont de Nemours, Inc. has a one year low of $49.52 and a one year high of $84.08. The company's 50-day moving average is $70.62 and its 200 day moving average is $61.91. The company has a market capitalization of $37.41 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 3.59 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.99 and a current ratio of 2.39.
DuPont de Nemours (NYSE:DD – Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The basic materials company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. DuPont de Nemours had a net margin of 13.02% and a return on equity of 6.95%. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the firm posted $1.15 EPS. DuPont de Nemours's revenue for the quarter was down 22.7% on a year-over-year basis. Sell-side analysts expect that DuPont de Nemours, Inc. will post 3.31 EPS for the current fiscal year.
About DuPont de Nemours
DuPont de Nemours, Inc operates as a holding company engaged in the development of specialty materials, chemicals, and agricultural products. It operates through the following segments: Electronics & Industrial, Water & Protection, and Mobility & Materials. The Electronics & Industrial segment supplies differentiated materials and systems for a broad range of consumer electronics including mobile devices, television monitors, personal computers and electronics used in a variety of industries.
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