DuPont de Nemours, Inc. (NYSE:DD) Declares $0.38 Quarterly Dividend

DuPont de Nemours, Inc. (NYSE:DD) declared a quarterly dividend on Wednesday, April 17th, RTT News reports. Shareholders of record on Friday, May 31st will be paid a dividend of 0.38 per share by the basic materials company on Monday, June 17th. This represents a $1.52 annualized dividend and a yield of 2.07%.

DuPont de Nemours has raised its dividend payment by an average of 6.3% annually over the last three years and has raised its dividend every year for the last 3 years. DuPont de Nemours has a payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect DuPont de Nemours to earn $4.12 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 35.0%.

DuPont de Nemours Stock Performance

Shares of DD stock opened at $73.53 on Friday. The stock has a fifty day moving average price of $72.53 and a 200 day moving average price of $72.13. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.73 and a current ratio of 2.43. The stock has a market cap of $30.74 billion, a PE ratio of 79.07, a P/E/G ratio of 2.42 and a beta of 1.40. DuPont de Nemours has a 1 year low of $61.14 and a 1 year high of $78.74.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings results on Tuesday, February 6th. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. DuPont de Nemours had a return on equity of 6.12% and a net margin of 3.51%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the company posted $0.89 EPS. The business’s revenue was down 6.6% on a year-over-year basis. Sell-side analysts forecast that DuPont de Nemours will post 3.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael G. Goss sold 2,354 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $72.80, for a total transaction of $171,371.20. Following the completion of the sale, the insider now directly owns 15,587 shares of the company’s stock, valued at approximately $1,134,733.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DuPont de Nemours

Hedge funds and other institutional investors have recently modified their holdings of the company. Moneta Group Investment Advisors LLC lifted its holdings in shares of DuPont de Nemours by 114,597.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,970,989 shares of the basic materials company’s stock valued at $821,569,000 after acquiring an additional 11,960,552 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of DuPont de Nemours by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 48,045,547 shares of the basic materials company’s stock worth $3,696,144,000 after purchasing an additional 3,168,639 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of DuPont de Nemours by 19.6% during the second quarter. Nuveen Asset Management LLC now owns 7,704,546 shares of the basic materials company’s stock worth $550,413,000 after purchasing an additional 1,261,028 shares in the last quarter. Norges Bank purchased a new stake in shares of DuPont de Nemours in the fourth quarter worth about $65,712,000. Finally, Barclays PLC grew its stake in shares of DuPont de Nemours by 162.4% in the second quarter. Barclays PLC now owns 1,293,781 shares of the basic materials company’s stock valued at $92,427,000 after buying an additional 800,685 shares in the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on DD shares. BMO Capital Markets lowered DuPont de Nemours from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $80.00 to $72.00 in a research note on Wednesday, January 24th. StockNews.com raised DuPont de Nemours from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Wolfe Research started coverage on shares of DuPont de Nemours in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. Mizuho lowered their price target on shares of DuPont de Nemours from $80.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, February 7th. Finally, Wells Fargo & Company upped their price objective on shares of DuPont de Nemours from $69.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $77.90.

About DuPont de Nemours

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.