The First Citizens Bank & Trust Co. Takes Position in DuPont Co. (DD)

The First Citizens Bank & Trust Co. Takes Position in DuPont Co. (DD)

First Citizens Bank & Trust Co. acquired a new stake in shares of DuPont Co. (NYSE:DD) during the second quarter, Holdings Channel reports. The fund acquired 6,264 shares of the company’s stock, valued at approximately $406,000.

Several other hedge funds also recently made changes to their positions in DD. State Street Corp raised its position in DuPont by 1.1% in the first quarter. State Street Corp now owns 39,212,995 shares of the company’s stock valued at $2,482,973,000 after buying an additional 423,988 shares during the last quarter. Trian Fund Management L.P. raised its position in DuPont by 1.3% in the first quarter. Trian Fund Management L.P. now owns 20,485,262 shares of the company’s stock valued at $1,297,127,000 after buying an additional 261,187 shares during the last quarter. Geode Capital Management LLC raised its position in DuPont by 2.1% in the first quarter. Geode Capital Management LLC now owns 7,237,054 shares of the company’s stock valued at $457,342,000 after buying an additional 149,132 shares during 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 valued at $346,418,000 after buying an additional 3,347,501 shares during the last quarter. Finally, 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 valued at $247,077,000 after buying an additional 20,701 shares during the last quarter. 70.30% of the stock is owned by institutional investors.

DuPont Co. (NYSE:DD) traded down 0.54% on Monday, reaching $68.66. 2,167,010 shares of the company’s stock traded hands. The stock has a market capitalization of $60.03 billion, a PE ratio of 27.31 and a beta of 1.78. DuPont Co. has a 52-week low of $50.71 and a 52-week high of $75.72. The firm’s 50-day moving average is $68.20 and its 200 day moving average is $66.85.

DuPont (NYSE:DD) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. DuPont had a net margin of 9.01% and a return on equity of 24.59%. The firm earned $7.10 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the prior year, the firm earned $1.18 EPS. The business’s revenue was down .8% on a year-over-year basis. Analysts forecast that DuPont Co. will post $3.19 EPS for the current year.

Several research firms recently weighed in on DD. Vetr lowered shares of DuPont from a “buy” rating to a “hold” rating and set a $69.68 target price on the stock. in a report on Monday, June 20th. Barclays PLC restated a “neutral” rating on shares of DuPont in a report on Thursday, July 28th. Citigroup Inc. upgraded shares of DuPont from a “neutral” rating to a “buy” rating and lifted their target price for the company from $72.00 to $76.00 in a report on Monday, October 3rd. Deutsche Bank AG lifted their target price on shares of DuPont from $55.00 to $56.00 and gave the company a “sell” rating in a report on Friday, August 12th. Finally, TheStreet lowered shares of DuPont from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $70.73.

In other DuPont news, SVP Benito Cachinero sold 58,958 shares of the stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $70.36, for a total value of $4,148,284.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James C. Jr. Collins sold 50,316 shares of the stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $70.30, for a total transaction of $3,537,214.80. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

About DuPont

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.

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