Spire Wealth Management Reduces DuPont Holdings by 58.2% in Q2

Spire Wealth Management has reduced its stake in DuPont de Nemours, Inc. (NYSE: DD) by 58.2%, as revealed in its latest 13F filing with the Securities and Exchange Commission (SEC). The firm now holds 1,685 shares of the basic materials company, following the sale of 2,349 shares during the second quarter. As of the most recent filing, Spire Wealth Management’s holdings in DuPont de Nemours are valued at approximately $116,000.

Other institutional investors have also adjusted their positions in DuPont. Nuveen LLC initiated a new position during the first quarter, investing around $531,037,000. Meanwhile, Price T Rowe Associates Inc. increased its ownership by 21.9%, now holding 4,159,807 shares worth $310,656,000 after acquiring an additional 746,364 shares. Valeo Financial Advisors LLC made a significant addition to its holdings, boosting its position by an astonishing 9,614.8% in the second quarter, bringing its total to 624,659 shares valued at $42,845,000. Drummond Knight Asset Management Pty Ltd also entered a new investment in DuPont, valued at approximately $25,307,000. Currently, institutional investors and hedge funds own 73.96% of the company’s stock.

DuPont Stock Performance and Analyst Ratings

On Thursday, DuPont de Nemours shares opened at $39.61, reflecting a 4.9% increase. The stock has a market capitalization of $16.59 billion, a price-to-earnings ratio of -84.28, and a PEG ratio of 2.49. The company’s financial ratios indicate a debt-to-equity ratio of 0.23, a quick ratio of 0.94, and a current ratio of 1.41. Over the past year, DuPont has experienced a stock price range from a low of $22.50 to a high of $39.86.

The company’s latest quarterly earnings, released on July 11, 2023, reported an earnings per share (EPS) of $0.69 and revenues of $3.02 billion. However, DuPont’s net margin stands at a negative 1.54%, while its return on equity is positive at 7.85%. Analysts anticipate that DuPont will achieve an EPS of $4.38 for the current year.

Recent analyst evaluations of DuPont have shown a mixed outlook. KeyCorp has cut its target price from $93.00 to $44.00, maintaining an “overweight” rating. In contrast, UBS Group raised its price target to $44.00 and issued a “buy” rating. Zacks Research downgraded the stock from a “hold” to a “strong sell” rating, while Royal Bank of Canada adjusted its price objective from $94.00 to $100.00 with an “outperform” rating. Overall, nine investment analysts have rated DuPont as a buy, four have issued hold ratings, and one has assigned a sell rating, leading to a consensus rating of “Moderate Buy” with an average target price of $77.08, according to data from MarketBeat.com.

Insider Transactions and Company Overview

In related news, DuPont’s Senior Vice President, Steven P. Larrabee, sold 43,208 shares on September 15, 2023, at an average price of $77.17, totaling $3,334,361.36. Following this transaction, Larrabee holds 38,585 shares valued at approximately $2,977,604.45. This sale represents a 52.83% reduction in his position. Over the previous quarter, insiders have sold a total of 74,208 shares, worth $5,714,861, with insiders collectively owning 0.61% of the company’s stock.

DuPont de Nemours, Inc. operates globally, providing technology-based materials and solutions across various sectors, including electronics and industrial applications. The company segments its operations into Electronics & Industrial, Water & Protection, and Corporate & Other, supplying materials essential for semiconductor fabrication and integrated circuits.

For those interested in the latest developments regarding DuPont de Nemours, further details can be found through the SEC filings and investment analysis platforms.