Pinnacle Financial Partners Inc. reduced its position in DuPont Co. (NYSE:DD) by 27.8% during the second quarter, Holdings Channel reports. The institutional investor owned 18,255 shares of the company’s stock after selling 7,033 shares during the period. Pinnacle Financial Partners Inc.’s holdings in DuPont were worth $1,222,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. A.R.T. Advisors LLC raised its position in DuPont by 88.5% in the first quarter. A.R.T. Advisors LLC now owns 155,639 shares of the company’s stock worth $9,855,000 after buying an additional 73,070 shares in the last quarter. Envestnet Asset Management Inc. raised its position in DuPont by 0.3% in the first quarter. Envestnet Asset Management Inc. now owns 136,717 shares of the company’s stock worth $8,657,000 after buying an additional 435 shares in the last quarter. Legal & General Group Plc raised its position in DuPont by 0.5% in the first quarter. Legal & General Group Plc now owns 3,901,748 shares of the company’s stock worth $247,077,000 after buying an additional 20,701 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in DuPont by 157.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,470,909 shares of the company’s stock worth $346,418,000 after buying an additional 3,347,501 shares in the last quarter. Finally, National Pension Service raised its position in DuPont by 4.2% in the first quarter. National Pension Service now owns 490,759 shares of the company’s stock worth $31,075,000 after buying an additional 19,738 shares in the last quarter. 70.30% of the stock is currently owned by institutional investors.
DuPont Co. (NYSE:DD) traded down 0.56% on Friday, hitting $69.45. The stock had a trading volume of 2,649,098 shares. The stock has a market capitalization of $60.38 billion, a price-to-earnings ratio of 30.73 and a beta of 1.78. The company has a 50-day moving average price of $68.14 and a 200-day moving average price of $67.28. DuPont Co. has a 52 week low of $50.71 and a 52 week high of $75.72.
DuPont (NYSE:DD) last announced its earnings results on Tuesday, October 25th. The company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.13. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.86 billion. DuPont had a return on equity of 27.16% and a net margin of 8.08%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.13 EPS. Equities research analysts anticipate that DuPont Co. will post $3.24 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 15th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, November 10th. DuPont’s payout ratio is presently 67.26%.
A number of equities analysts have commented on the company. Nomura assumed coverage on DuPont in a research note on Tuesday, October 18th. They issued a “buy” rating and a $78.00 price objective on the stock. Barclays PLC boosted their price objective on DuPont from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 27th. Vetr raised DuPont from a “strong sell” rating to a “sell” rating and set a $64.60 price objective on the stock in a research note on Tuesday, July 26th. TheStreet downgraded DuPont from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Deutsche Bank AG boosted their target price on DuPont from $55.00 to $56.00 and gave the stock a “sell” rating in a research report on Friday, August 12th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. DuPont presently has a consensus rating of “Hold” and a consensus price target of $71.15.
In other news, EVP Christopher Marc Doyle sold 5,422 shares of DuPont stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $69.53, for a total value of $376,991.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James C. Jr. Collins sold 50,316 shares of DuPont stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $70.30, for a total value of $3,537,214.80. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
E. I. du Pont de Nemours and Company (DuPont) is a science and technology-based company. The Company consists of over 10 businesses aggregated into six segments: Agriculture, Electronics & Communications, Industrial Biosciences, Nutrition & Health, Performance Materials and Safety & Protection. Its products include corn hybrids and soybean varieties, herbicides, fungicides and insecticides in Agriculture segment; photopolymers and electronic materials in Electronics & Communications segment; enzymes and bio-based materials in Industrial Biosciences segment; cultures, emulsifiers, texturants, natural sweeteners and soy-based food ingredients in Nutrition & Health segment; engineering polymers, packaging and industrial polymers, films and elastomers in Performance Materials segment, and nonwovens, aramids and solid surfaces in Safety & Protection segment.