Baker Avenue Asset Management LP Makes New $266,000 Investment in DuPont de Nemours, Inc. (NYSE:DD)

Baker Avenue Asset Management LP bought a new stake in DuPont de Nemours, Inc. (NYSE:DD) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 2,981 shares of the basic materials company’s stock, valued at approximately $266,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DD. Fortitude Family Office LLC raised its holdings in DuPont de Nemours by 46.6% in 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 in the last quarter. Crestwood Advisors Group LLC increased its position in shares of DuPont de Nemours by 3.3% in the 2nd quarter. Crestwood Advisors Group LLC now owns 4,120 shares of the basic materials company’s stock worth $332,000 after purchasing an additional 132 shares during the last quarter. Moody National Bank Trust Division raised its stake in shares of DuPont de Nemours by 0.6% in the 2nd quarter. Moody National Bank Trust Division now owns 21,510 shares of the basic materials company’s stock valued at $1,731,000 after purchasing an additional 134 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in shares of DuPont de Nemours by 3.7% during the second 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. Finally, Focus Financial Network Inc. grew its stake in DuPont de Nemours by 3.7% in the third quarter. Focus Financial Network Inc. now owns 3,973 shares of the basic materials company’s stock worth $354,000 after purchasing an additional 143 shares in the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DD. Deutsche Bank Aktiengesellschaft upped their price target on DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company increased their target price on shares of DuPont de Nemours from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on shares of DuPont de Nemours from $102.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Morgan Stanley increased their price objective on shares of DuPont de Nemours from $88.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Barclays lifted their target price on DuPont de Nemours from $84.00 to $85.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.42.

DuPont de Nemours Stock Down 0.7 %

DuPont de Nemours stock opened at $83.61 on Tuesday. The company’s 50-day moving average price is $84.30 and its two-hundred day moving average price is $81.40. The stock has a market cap of $34.94 billion, a price-to-earnings ratio of 44.01, a PEG ratio of 2.01 and a beta of 1.35. DuPont de Nemours, Inc. has a 52 week low of $61.14 and a 52 week high of $90.06. The company has a current ratio of 2.28, a quick ratio of 1.44 and a debt-to-equity ratio of 0.29.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Tuesday, November 5th. The basic materials company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.03 by $0.15. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.20 billion. DuPont de Nemours had a return on equity of 6.64% and a net margin of 6.35%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 earnings per share. On average, analysts expect that DuPont de Nemours, Inc. will post 3.91 EPS for the current fiscal year.

DuPont de Nemours Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 1.82%. DuPont de Nemours’s dividend payout ratio is currently 80.00%.

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.