Sumitomo Mitsui DS Asset Management Company Ltd Raises Position in DuPont de Nemours, Inc. (NYSE:DD)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in DuPont de Nemours, Inc. (NYSE:DD) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,261 shares of the basic materials company’s stock after purchasing an additional 1,656 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in DuPont de Nemours were worth $5,281,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Palisade Asset Management LLC purchased a new stake in shares of DuPont de Nemours in the first quarter worth approximately $25,000. ESL Trust Services LLC purchased a new stake in shares of DuPont de Nemours during the first quarter valued at approximately $26,000. Denver PWM LLC purchased a new stake in shares of DuPont de Nemours during the second quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of DuPont de Nemours during the second quarter valued at approximately $27,000. Finally, Fortitude Family Office LLC increased its position in shares of DuPont de Nemours by 46.6% during the second quarter. Fortitude Family Office LLC now owns 412 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 131 shares during the last quarter. 73.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DD. Citigroup decreased their price target on DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada increased their price target on DuPont de Nemours from $87.00 to $102.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Barclays downgraded DuPont de Nemours from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $88.00 to $84.00 in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on DuPont de Nemours from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, DuPont de Nemours presently has an average rating of “Moderate Buy” and an average target price of $94.91.

DuPont de Nemours Price Performance

DuPont de Nemours stock opened at $85.09 on Friday. DuPont de Nemours, Inc. has a one year low of $61.14 and a one year high of $90.06. The business has a fifty day moving average price of $83.34 and a 200-day moving average price of $80.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 1.44. The firm has a market capitalization of $35.58 billion, a P/E ratio of 103.77, a PEG ratio of 2.26 and a beta of 1.34.

DuPont de Nemours (NYSE:DD) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.05 billion. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the company earned $0.85 earnings per share. As a group, equities research analysts forecast that DuPont de Nemours, Inc. will post 3.76 EPS for the current year.

DuPont de Nemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.79%. The ex-dividend date is Friday, November 29th. DuPont de Nemours’s dividend payout ratio is 185.37%.

DuPont de Nemours Company 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.