OLD National Bancorp IN Cuts Stake in DuPont de Nemours, Inc. (NYSE:DD)

OLD National Bancorp IN cut its stake in DuPont de Nemours, Inc. (NYSE:DD) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,858 shares of the basic materials company’s stock after selling 6,154 shares during the quarter. OLD National Bancorp IN’s holdings in DuPont de Nemours were worth $13,269,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Northwest Financial Advisors acquired a new stake in shares of DuPont de Nemours during the fourth quarter valued at about $25,000. Palisade Asset Management LLC acquired a new stake in shares of DuPont de Nemours during the first quarter valued at about $25,000. ESL Trust Services LLC acquired a new stake in shares of DuPont de Nemours during the first quarter valued at about $26,000. LifeSteps Financial Inc. acquired a new stake in shares of DuPont de Nemours during the first quarter valued at about $28,000. Finally, Byrne Asset Management LLC acquired a new stake in shares of DuPont de Nemours during the first quarter valued at about $33,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Royal Bank of Canada lifted their price target on DuPont de Nemours from $87.00 to $102.00 and gave the stock an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. lifted their target price on DuPont de Nemours from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Barclays lifted their target price on DuPont de Nemours from $81.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 28th. UBS Group lifted their target price on DuPont de Nemours from $93.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Finally, Jefferies Financial Group upgraded DuPont de Nemours from a “hold” rating to a “buy” rating and lifted their target price for the company from $78.00 to $101.00 in a research note on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, DuPont de Nemours currently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

DuPont de Nemours Price Performance

DD traded down $0.01 during trading on Friday, reaching $78.51. The stock had a trading volume of 983,571 shares, compared to its average volume of 2,766,594. The firm has a market capitalization of $32.83 billion, a price-to-earnings ratio of 95.74, a price-to-earnings-growth ratio of 2.54 and a beta of 1.34. The company has a quick ratio of 1.61, a current ratio of 2.21 and a debt-to-equity ratio of 0.30. DuPont de Nemours, Inc. has a 1-year low of $61.14 and a 1-year high of $85.12. The stock has a 50 day moving average of $80.02 and a two-hundred day moving average of $75.58.

DuPont de Nemours (NYSE:DD) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that DuPont de Nemours, Inc. will post 3.69 EPS for the current fiscal year.

DuPont de Nemours Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.94%. DuPont de Nemours’s dividend payout ratio (DPR) is presently 185.37%.

About DuPont de Nemours

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.