Meyer Handelman Co. Sells 3,378 Shares of DuPont de Nemours, Inc. (NYSE:DD)

Meyer Handelman Co. cut its stake in DuPont de Nemours, Inc. (NYSE:DD) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,626 shares of the basic materials company’s stock after selling 3,378 shares during the quarter. Meyer Handelman Co.’s holdings in DuPont de Nemours were worth $8,359,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Zurich Insurance Group Ltd FI bought a new stake in shares of DuPont de Nemours in the 2nd quarter valued at about $83,540,000. Assenagon Asset Management S.A. lifted its position in DuPont de Nemours by 431.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,058,446 shares of the basic materials company’s stock valued at $80,707,000 after acquiring an additional 859,333 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in DuPont de Nemours in the second quarter valued at approximately $67,665,000. Franklin Resources Inc. grew its stake in DuPont de Nemours by 9.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,410,485 shares of the basic materials company’s stock worth $556,751,000 after buying an additional 570,703 shares during the last quarter. Finally, Zacks Investment Management acquired a new position in DuPont de Nemours during the 3rd quarter valued at about $42,810,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

DuPont de Nemours Price Performance

NYSE:DD opened at $75.31 on Wednesday. The company has a 50 day moving average price of $80.02 and a 200-day moving average price of $81.47. DuPont de Nemours, Inc. has a 1-year low of $61.14 and a 1-year high of $90.06. The firm has a market cap of $31.48 billion, a price-to-earnings ratio of 39.64, a price-to-earnings-growth ratio of 1.95 and a beta of 1.35. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.28 and a quick ratio of 1.49.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.15. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.20 billion. DuPont de Nemours had a return on equity of 6.64% and a net margin of 6.35%. DuPont de Nemours’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 EPS. Equities research analysts forecast that DuPont de Nemours, Inc. will post 3.89 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DD shares. Wells Fargo & Company raised their price target on DuPont de Nemours from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on shares of DuPont de Nemours from $102.00 to $104.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Barclays upped their target price on DuPont de Nemours from $84.00 to $85.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. Morgan Stanley lifted their target price on DuPont de Nemours from $88.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, StockNews.com downgraded shares of DuPont de Nemours from a “buy” rating to a “hold” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, DuPont de Nemours presently has an average rating of “Moderate Buy” and an average price target of $95.25.

DuPont de Nemours 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.