Jim Cramer’s Charitable Trust plans to sell 50 DuPont shares after the company reported a quarterly earnings beat, locking in part of a gain on a position bought in August 2023, CNBC reported Tuesday.
CNBC put the planned sale at roughly $147 per share. The trust would hold 400 shares afterward, reducing DuPont’s portfolio weight to about 1.5% from 1.7%, the outlet reported.
DuPont shares rose 4% to around $147 after the results and reached $154 at one point, CNBC reported. The company posted 5% year-over-year organic sales growth and adjusted earnings per share of $2.09, topping the $1.87 consensus estimate attributed by CNBC to LSEG.
CNBC reported that sales grew by mid-single digits in Healthcare, Building Technologies and Industrial Technology, while Water recorded low-single-digit growth. The outlet said Water’s increase would have been a couple of percentage points higher without Middle East disruptions.
DuPont lifted its full-year guidance and signaled confidence in the fourth quarter, CNBC said. The outlet reported that the Investing Club viewed the company’s post-separation initiatives as supporting growth and improving margins, with free cash flow available for stock repurchases.
The Club said it had not identified the stock’s next catalyst, CNBC reported. The outlet said the trust’s shares, purchased in August 2023, had gained about 58% by the time of the planned sale.
