AIA Group Ltd lifted its holdings in DuPont de Nemours, Inc. (NYSE:DD – Get Rating) by 50.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,773 shares of the basic materials company’s stock after acquiring an additional 932 shares during the period. AIA Group Ltd’s holdings in DuPont de Nemours were worth $204,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Masso Torrence Wealth Management Inc. purchased a new position in shares of DuPont de Nemours in the 4th quarter worth approximately $25,000. FSB Premier Wealth Management Inc. bought a new stake in DuPont de Nemours during the 4th quarter valued at $26,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of DuPont de Nemours in the 4th quarter worth approximately $26,000. Bivin & Associates Inc. bought a new stake in DuPont de Nemours during the 4th quarter valued at $28,000. Finally, Evoke Wealth LLC boosted its position in shares of DuPont de Nemours by 203.4% in the 4th quarter. Evoke Wealth LLC now owns 355 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 238 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Jefferies Financial Group lowered shares of DuPont de Nemours from a “buy” rating to a “hold” rating and cut their price objective for the stock from $92.00 to $60.00 in a research note on Thursday, June 16th. Credit Suisse Group reduced their price target on DuPont de Nemours from $81.00 to $77.00 and set an “outperform” rating on the stock in a report on Wednesday. KeyCorp reduced their price objective on shares of DuPont de Nemours from $96.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Royal Bank of Canada reduced their price objective on shares of DuPont de Nemours from $81.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Mizuho dropped their target price on DuPont de Nemours from $101.00 to $97.00 in a research report on Wednesday, May 4th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DuPont de Nemours presently has an average rating of “Moderate Buy” and an average target price of $80.40.
DuPont de Nemours Trading Up 0.5 %
DuPont de Nemours (NYSE:DD – Get Rating) last issued its earnings results on Tuesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.13. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.26 billion. DuPont de Nemours had a net margin of 12.35% and a return on equity of 7.54%. The business’s quarterly revenue was down 19.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.06 earnings per share. Analysts forecast that DuPont de Nemours, Inc. will post 3.35 earnings per share for the current year.
DuPont de Nemours Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, July 29th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, July 28th. DuPont de Nemours’s payout ratio is 36.26%.
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 three segments: Electronics & Industrial, Mobility & Materials, and Water & Protection. The Electronics & Industrial segment supplies materials and printing systems to the advanced printing industry; and materials and solutions for the fabrication of semiconductors and integrated circuits addressing front-end and back-end of the manufacturing process.
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