Versor Investments LP Purchases New Position in DuPont de Nemours, Inc. (NYSE:DD)

Versor Investments LP purchased a new stake in DuPont de Nemours, Inc. (NYSE:DD) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 8,300 shares of the basic materials company’s stock, valued at approximately $740,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DD. Sequoia Financial Advisors LLC boosted its position in shares of DuPont de Nemours by 236.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,612 shares of the basic materials company’s stock valued at $3,269,000 after purchasing an additional 28,553 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of DuPont de Nemours by 9.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 598,483 shares of the basic materials company’s stock valued at $42,953,000 after acquiring an additional 53,694 shares during the period. Canandaigua National Bank & Trust Co. purchased a new position in shares of DuPont de Nemours during the second quarter worth approximately $1,610,000. Cetera Investment Advisers raised its position in DuPont de Nemours by 186.5% in the 1st quarter. Cetera Investment Advisers now owns 87,364 shares of the basic materials company’s stock valued at $6,698,000 after purchasing an additional 56,870 shares during the last quarter. Finally, Appian Way Asset Management LP acquired a new stake in DuPont de Nemours during the 2nd quarter worth $2,978,000. Institutional investors and hedge funds own 73.96% of the company’s stock.

Analyst Ratings Changes

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

DuPont de Nemours Stock Performance

DD opened at $82.31 on Wednesday. The stock’s 50 day simple moving average is $84.30 and its 200 day simple moving average is $81.46. The stock has a market cap of $34.40 billion, a P/E ratio of 43.32, a P/E/G ratio of 2.01 and a beta of 1.35. DuPont de Nemours, Inc. has a 1-year low of $61.14 and a 1-year high of $90.06. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.28 and a quick ratio of 1.44.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.15. DuPont de Nemours had a return on equity of 6.64% and a net margin of 6.35%. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter last year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts anticipate that DuPont de Nemours, Inc. will post 3.91 EPS for the current fiscal year.

DuPont de Nemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.85%. DuPont de Nemours’s dividend payout ratio (DPR) is 80.00%.

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.