iA Global Asset Management Inc. Purchases New Stake in DuPont de Nemours, Inc. (NYSE:DD)

iA Global Asset Management Inc. purchased a new stake in DuPont de Nemours, Inc. (NYSE:DD) in the 2nd quarter, HoldingsChannel reports. The fund purchased 18,198 shares of the basic materials company’s stock, valued at approximately $1,465,000.

Several other hedge funds have also bought and sold shares of DD. Choreo LLC grew its position in DuPont de Nemours by 78.5% in the 4th quarter. Choreo LLC now owns 4,907 shares of the basic materials company’s stock valued at $377,000 after purchasing an additional 2,158 shares during the period. Van ECK Associates Corp lifted its stake in DuPont de Nemours by 15.8% during the 4th quarter. Van ECK Associates Corp now owns 40,644 shares of the basic materials company’s stock valued at $3,127,000 after acquiring an additional 5,547 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in DuPont de Nemours by 2.5% during the 4th quarter. Kestra Private Wealth Services LLC now owns 31,567 shares of the basic materials company’s stock valued at $2,428,000 after acquiring an additional 781 shares in the last quarter. Savant Capital LLC lifted its stake in DuPont de Nemours by 11.6% during the 4th quarter. Savant Capital LLC now owns 15,568 shares of the basic materials company’s stock valued at $1,198,000 after acquiring an additional 1,615 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its stake in DuPont de Nemours by 7.7% during the 4th quarter. First Trust Direct Indexing L.P. now owns 11,067 shares of the basic materials company’s stock valued at $851,000 after acquiring an additional 787 shares in the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

DuPont de Nemours Trading Up 1.5 %

Shares of DuPont de Nemours stock opened at $84.25 on Friday. DuPont de Nemours, Inc. has a 52-week low of $61.14 and a 52-week high of $85.12. The stock’s 50-day simple moving average is $80.19 and its 200 day simple moving average is $77.29. The stock has a market capitalization of $35.23 billion, a P/E ratio of 102.74, a P/E/G ratio of 2.54 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.61 and a current ratio of 2.21.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.12. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the business posted $0.85 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, research analysts anticipate that DuPont de Nemours, Inc. will post 3.69 EPS for the current year.

DuPont de Nemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Friday, August 30th. DuPont de Nemours’s dividend payout ratio is currently 185.37%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company upgraded DuPont de Nemours from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $80.00 to $103.00 in a research note on Friday, May 24th. Royal Bank of Canada raised their price objective on DuPont de Nemours from $87.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. BMO Capital Markets upgraded DuPont de Nemours from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $83.00 to $96.00 in a research note on Thursday, May 23rd. Barclays lifted their target price on DuPont de Nemours from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 28th. Finally, Jefferies Financial Group upgraded DuPont de Nemours from a “hold” rating to a “buy” rating and lifted their target price for the stock from $78.00 to $101.00 in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, DuPont de Nemours has an average rating of “Moderate Buy” and a consensus target price of $95.00.

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.