Inscription Capital LLC bought a new position in shares of DuPont de Nemours, Inc. (NYSE:DD) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,973 shares of the basic materials company’s stock, valued at approximately $462,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in DD. Third Point LLC acquired a new stake in shares of DuPont de Nemours during the 1st quarter worth $206,724,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of DuPont de Nemours during the 1st quarter worth $108,190,000. JPMorgan Chase & Co. grew its holdings in shares of DuPont de Nemours by 23.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,131,824 shares of the basic materials company’s stock worth $397,255,000 after purchasing an additional 966,499 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of DuPont de Nemours by 17.5% during the 1st quarter. Franklin Resources Inc. now owns 6,033,425 shares of the basic materials company’s stock worth $466,264,000 after purchasing an additional 897,908 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in DuPont de Nemours by 2.1% in the second quarter. BlackRock Inc. now owns 36,787,089 shares of the basic materials company’s stock valued at $2,847,689,000 after buying an additional 741,715 shares in the last quarter. 70.55% of the stock is currently owned by institutional investors.
DD has been the topic of several research analyst reports. JPMorgan Chase & Co. raised DuPont de Nemours from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $84.00 to $85.00 in a research note on Monday, October 4th. They noted that the move was a valuation call. Credit Suisse Group raised their price objective on DuPont de Nemours from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday, August 4th. Zacks Investment Research raised DuPont de Nemours from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Tuesday, October 5th. TheStreet raised DuPont de Nemours from a “d+” rating to a “c” rating in a research note on Tuesday, August 3rd. Finally, Mizuho initiated coverage on DuPont de Nemours in a research report on Tuesday. They issued a “buy” rating and a $94.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $88.39.
DuPont de Nemours (NYSE:DD) last issued its earnings results on Tuesday, August 3rd. The basic materials company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.12. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.99 billion. DuPont de Nemours had a return on equity of 7.42% and a net margin of 32.59%. The firm’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. As a group, sell-side analysts anticipate that DuPont de Nemours, Inc. will post 4.14 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Tuesday, November 30th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.72%. DuPont de Nemours’s payout ratio is currently 35.71%.
In other DuPont de Nemours news, insider Rose Lee sold 26,448 shares of the firm’s stock in a transaction that occurred on Tuesday, August 24th. The stock was sold at an average price of $74.37, for a total value of $1,966,937.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Luther C. Iv Kissam bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 5th. The shares were bought at an average cost of $75.94 per share, for a total transaction of $379,700.00. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.
About DuPont de Nemours
DuPont de Nemours, Inc operates as a holding company, which engages in the development of specialty materials, chemicals, and agricultural products. It operates through the following segments: Electronics & Imaging, Nutrition & Biosciences, Transportation & Industrial, Safety & Construction, and Non-Core.
Further Reading: Death Cross
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