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

Appian Way Asset Management LP bought a new stake in DuPont de Nemours, Inc. (NYSE:DD) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 37,000 shares of the basic materials company’s stock, valued at approximately $2,978,000. DuPont de Nemours comprises approximately 0.8% of Appian Way Asset Management LP’s portfolio, making the stock its 25th largest position.

Several other institutional investors also recently bought and sold shares of DD. Marshall Wace LLP lifted its stake in DuPont de Nemours by 17.0% in the second quarter. Marshall Wace LLP now owns 112,356 shares of the basic materials company’s stock worth $9,044,000 after acquiring an additional 16,288 shares during the period. Sagefield Capital LP purchased a new stake in shares of DuPont de Nemours in the 2nd quarter worth about $7,851,000. Morse Asset Management Inc bought a new stake in shares of DuPont de Nemours during the 2nd quarter valued at about $1,550,000. Bank of Montreal Can increased its position in shares of DuPont de Nemours by 30.1% during the second quarter. Bank of Montreal Can now owns 946,457 shares of the basic materials company’s stock valued at $76,237,000 after buying an additional 219,223 shares during the period. Finally, Evergreen Capital Management LLC raised its stake in DuPont de Nemours by 7.7% in the second quarter. Evergreen Capital Management LLC now owns 4,127 shares of the basic materials company’s stock worth $332,000 after buying an additional 296 shares in the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

DuPont de Nemours Price Performance

NYSE DD opened at $84.08 on Tuesday. The stock has a market cap of $35.15 billion, a price-to-earnings ratio of 102.54, a PEG ratio of 2.12 and a beta of 1.33. DuPont de Nemours, Inc. has a 12 month low of $61.14 and a 12 month high of $85.12. The company’s 50 day moving average is $80.80 and its two-hundred day moving average is $78.75. The company has a current ratio of 2.21, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings data 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 the consensus estimate of $3.05 billion. DuPont de Nemours had a net margin of 5.30% and a return on equity of 6.31%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.85 EPS. As a group, research analysts anticipate that DuPont de Nemours, Inc. will post 3.74 earnings per share for the current year.

DuPont de Nemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Friday, August 30th. DuPont de Nemours’s dividend payout ratio is currently 185.37%.

Wall Street Analyst Weigh In

DD has been the subject of a number of research reports. Citigroup decreased their price objective on DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating for the company in a report on Friday, July 12th. Barclays upped their price objective on shares of DuPont de Nemours from $81.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. UBS Group lifted their target price on shares of DuPont de Nemours from $93.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Deutsche Bank Aktiengesellschaft upped their price target on DuPont de Nemours from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada lifted 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.