Cypress Capital Group Takes $204,000 Position in DuPont de Nemours, Inc. (NYSE:DD)

Cypress Capital Group purchased a new position in shares of DuPont de Nemours, Inc. (NYSE:DD) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 2,537 shares of the basic materials company’s stock, valued at approximately $204,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of DuPont de Nemours by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 48,045,648 shares of the basic materials company’s stock worth $3,696,152,000 after acquiring an additional 3,168,740 shares during the last quarter. Norges Bank acquired a new position in DuPont de Nemours during the 4th quarter valued at about $111,980,000. Jacobs Levy Equity Management Inc. boosted its stake 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. Ceredex Value Advisors LLC grew its position in shares of DuPont de Nemours by 95.0% during the 2nd quarter. Ceredex Value Advisors LLC now owns 1,165,164 shares of the basic materials company’s stock worth $93,784,000 after buying an additional 567,732 shares during the period. Finally, Great Lakes Advisors LLC raised its stake in shares of DuPont de Nemours by 156.6% during the fourth quarter. Great Lakes Advisors LLC now owns 737,964 shares of the basic materials company’s stock worth $56,772,000 after buying an additional 450,422 shares during the last quarter. Institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Stock Up 1.0 %

Shares of DuPont de Nemours stock traded up $0.81 on Friday, hitting $81.10. The company had a trading volume of 1,325,008 shares, compared to its average volume of 2,678,847. DuPont de Nemours, Inc. has a twelve month low of $61.14 and a twelve month 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 1.61. The stock has a 50-day moving average of $79.94 and a 200-day moving average of $76.74. The firm has a market capitalization of $33.91 billion, a P/E ratio of 98.90, a P/E/G ratio of 2.54 and a beta of 1.34.

DuPont de Nemours (NYSE:DD) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.05 billion. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. Research analysts predict that DuPont de Nemours, Inc. will post 3.69 earnings per share for the current year.

DuPont de Nemours Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Friday, August 30th. DuPont de Nemours’s dividend payout ratio (DPR) is currently 185.37%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DD. Mizuho raised their price objective on shares of DuPont de Nemours from $83.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Citigroup decreased their price objective on DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Barclays increased their target price on DuPont de Nemours from $81.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 28th. BMO Capital Markets upgraded DuPont de Nemours from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $83.00 to $96.00 in a research report on Thursday, May 23rd. Finally, Jefferies Financial Group upgraded shares of DuPont de Nemours from a “hold” rating to a “buy” rating and increased their price target for the company from $78.00 to $101.00 in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

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.