Morse Asset Management Inc Takes Position in DuPont de Nemours, Inc. (NYSE:DD)

Morse Asset Management Inc acquired a new stake in shares of DuPont de Nemours, Inc. (NYSE:DD) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 19,255 shares of the basic materials company’s stock, valued at approximately $1,550,000.

Several other institutional investors also recently bought and sold shares of the business. Fortitude Family Office LLC lifted its position in shares of DuPont de Nemours by 46.6% during the 2nd quarter. Fortitude Family Office LLC now owns 412 shares of the basic materials company’s stock valued at $33,000 after buying an additional 131 shares in the last quarter. Crestwood Advisors Group LLC lifted its holdings in DuPont de Nemours by 3.3% during the second quarter. Crestwood Advisors Group LLC now owns 4,120 shares of the basic materials company’s stock valued at $332,000 after purchasing an additional 132 shares in the last quarter. Triangle Securities Wealth Management grew its position in shares of DuPont de Nemours by 0.7% in the first quarter. Triangle Securities Wealth Management now owns 18,995 shares of the basic materials company’s stock valued at $1,456,000 after purchasing an additional 134 shares during the period. Moody National Bank Trust Division increased its stake in shares of DuPont de Nemours by 0.6% during the second quarter. Moody National Bank Trust Division now owns 21,510 shares of the basic materials company’s stock worth $1,731,000 after purchasing an additional 134 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its position in shares of DuPont de Nemours by 3.7% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 3,875 shares of the basic materials company’s stock worth $312,000 after purchasing an additional 137 shares during the last quarter. 73.96% of the stock is owned by hedge funds and other institutional investors.

DuPont de Nemours Price Performance

Shares of DD stock opened at $83.34 on Monday. 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 company has a market capitalization of $34.84 billion, a PE ratio of 101.63, a price-to-earnings-growth ratio of 2.12 and a beta of 1.33. The firm’s 50-day moving average is $80.72 and its two-hundred day moving average is $78.65. DuPont de Nemours, Inc. has a 12 month low of $61.14 and a 12 month high of $85.12.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.85 by $0.12. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.05 billion. DuPont de Nemours had a net margin of 5.30% and a return on equity of 6.31%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 EPS. Analysts predict that DuPont de Nemours, Inc. will post 3.74 earnings per share for the current year.

DuPont de Nemours Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Friday, August 30th. DuPont de Nemours’s dividend payout ratio is presently 185.37%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup lowered their price objective on DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft boosted their price target 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. 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 report on Monday, August 5th. UBS Group upped their target price on shares of DuPont de Nemours from $93.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, Barclays raised their price target on shares of 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. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, DuPont de Nemours presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

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.