Asset Dedication LLC Raises Position in DuPont de Nemours, Inc. (NYSE:DD)

Asset Dedication LLC increased its holdings in shares of DuPont de Nemours, Inc. (NYSE:DD) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,676 shares of the basic materials company’s stock after buying an additional 1,050 shares during the quarter. Asset Dedication LLC’s holdings in DuPont de Nemours were worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Northwest Financial Advisors acquired a new stake in shares of DuPont de Nemours during the fourth quarter worth $25,000. Palisade Asset Management LLC purchased a new position in DuPont de Nemours in the 1st quarter worth $25,000. ESL Trust Services LLC acquired a new stake in DuPont de Nemours during the 1st quarter worth about $26,000. LifeSteps Financial Inc. acquired a new position in shares of DuPont de Nemours in the first quarter valued at about $28,000. Finally, Denver PWM LLC acquired a new position in shares of DuPont de Nemours in the second quarter valued at about $28,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DD. Citigroup dropped their price objective on shares of DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company raised DuPont de Nemours from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $80.00 to $103.00 in a research report on Friday, May 24th. UBS Group boosted their price objective on DuPont de Nemours from $93.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. BMO Capital Markets upgraded DuPont de Nemours from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $83.00 to $96.00 in a research note on Thursday, May 23rd. Finally, Barclays boosted their price target on DuPont de Nemours from $81.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.00.

DuPont de Nemours Trading Down 2.8 %

DD opened at $79.14 on Friday. The firm has a market capitalization of $33.09 billion, a price-to-earnings ratio of 96.51, a price-to-earnings-growth ratio of 2.23 and a beta of 1.33. The company’s 50 day simple moving average is $80.32 and its two-hundred day simple moving average is $77.76. DuPont de Nemours, Inc. has a 1-year low of $61.14 and a 1-year high of $85.12. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 1.44.

DuPont de Nemours (NYSE:DD) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the prior year, the business earned $0.85 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts expect that DuPont de Nemours, Inc. will post 3.74 EPS for the current fiscal year.

DuPont de Nemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, August 30th. This represents a $1.52 annualized dividend and a yield of 1.92%. DuPont de Nemours’s dividend payout ratio (DPR) is 185.37%.

DuPont de Nemours 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.