Bank & Trust Co Acquires New Stake in DuPont de Nemours, Inc. (NYSE:DD)

Bank & Trust Co purchased a new position in shares of DuPont de Nemours, Inc. (NYSE:DD) during the second quarter, Holdings Channel.com reports. The fund purchased 743 shares of the basic materials company’s stock, valued at approximately $60,000.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in DuPont de Nemours by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 48,045,648 shares of the basic materials company’s stock valued at $3,696,152,000 after purchasing an additional 3,168,740 shares in the last quarter. Norges Bank purchased a new position in DuPont de Nemours in the fourth quarter worth approximately $111,980,000. Jacobs Levy Equity Management Inc. increased its position in shares of DuPont de Nemours by 403.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,421,685 shares of the basic materials company’s stock valued at $109,001,000 after purchasing an additional 1,139,156 shares during the last quarter. Great Lakes Advisors LLC lifted its position in shares of DuPont de Nemours by 156.6% during the 4th quarter. Great Lakes Advisors LLC now owns 737,964 shares of the basic materials company’s stock worth $56,772,000 after purchasing an additional 450,422 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of DuPont de Nemours by 34.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,542,045 shares of the basic materials company’s stock worth $118,229,000 after purchasing an additional 391,400 shares in the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on DD. Jefferies Financial Group raised DuPont de Nemours from a “hold” rating to a “buy” rating and upped their price objective for the stock from $78.00 to $101.00 in a research report on Friday, May 17th. UBS Group increased their price target on shares of DuPont de Nemours from $93.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. BMO Capital Markets raised DuPont de Nemours from a “market perform” rating to an “outperform” rating and upped their target price for the company from $83.00 to $96.00 in a research report on Thursday, May 23rd. Mizuho increased their price target on shares of DuPont de Nemours from $83.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of DuPont de Nemours from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

DuPont de Nemours Stock Performance

NYSE:DD traded up $0.16 during midday trading on Tuesday, reaching $78.00. 2,110,155 shares of the company traded hands, compared to its average volume of 2,791,673. The company has a fifty day moving average price of $80.32 and a 200 day moving average price of $75.49. The firm has a market capitalization of $32.61 billion, a price-to-earnings ratio of 96.55, a price-to-earnings-growth ratio of 2.54 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 1.61. DuPont de Nemours, Inc. has a twelve month low of $61.14 and a twelve month high of $85.12.

DuPont de Nemours (NYSE:DD) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. The business 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 business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. On average, analysts expect that DuPont de Nemours, Inc. will post 3.69 EPS for the current fiscal year.

DuPont de Nemours Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.52 annualized dividend and a yield of 1.95%. DuPont de Nemours’s dividend payout ratio is presently 185.37%.

Insiders Place Their Bets

In other news, insider Michael G. Goss sold 1,339 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $78.33, for a total transaction of $104,883.87. Following the completion of the sale, the insider now directly owns 14,012 shares of the company’s stock, valued at approximately $1,097,559.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.56% of the company’s stock.

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.