Cullen Frost Bankers Inc. Boosts Stock Position in DuPont de Nemours, Inc. (NYSE:DD)

Cullen Frost Bankers Inc. lifted its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 5.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 216,759 shares of the basic materials company’s stock after acquiring an additional 11,262 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in DuPont de Nemours were worth $17,447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC raised its holdings in DuPont de Nemours by 4.2% during the second quarter. Lake Street Advisors Group LLC now owns 4,049 shares of the basic materials company’s stock valued at $326,000 after acquiring an additional 165 shares during the period. Savant Capital LLC raised its stake in DuPont de Nemours by 52.4% during the 2nd quarter. Savant Capital LLC now owns 26,029 shares of the basic materials company’s stock valued at $2,095,000 after purchasing an additional 8,955 shares during the period. Sustainable Insight Capital Management LLC purchased a new position in DuPont de Nemours in the 2nd quarter worth approximately $531,000. Candriam S.C.A. boosted its stake in DuPont de Nemours by 4.8% in the 2nd quarter. Candriam S.C.A. now owns 30,624 shares of the basic materials company’s stock worth $2,465,000 after purchasing an additional 1,400 shares during the period. Finally, Private Advisor Group LLC grew its holdings in DuPont de Nemours by 31.8% during the 2nd quarter. Private Advisor Group LLC now owns 70,087 shares of the basic materials company’s stock valued at $5,641,000 after buying an additional 16,900 shares in the last quarter. 73.96% of the stock is owned by hedge funds and other institutional investors.

DuPont de Nemours Stock Down 2.8 %

Shares of DuPont de Nemours stock traded down $2.24 during trading on Friday, hitting $79.14. 3,029,216 shares of the stock traded hands, compared to its average volume of 2,658,150. The company has a current ratio of 2.21, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. The firm has a market cap of $33.09 billion, a P/E ratio of 96.52, a price-to-earnings-growth ratio of 2.23 and a beta of 1.33. The stock’s fifty day simple moving average is $80.32 and its 200 day simple moving average is $77.69. DuPont de Nemours, Inc. has a 52-week low of $61.14 and a 52-week high of $85.12.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.85 by $0.12. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same period in the previous year, the company posted $0.85 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts predict that DuPont de Nemours, Inc. will post 3.74 earnings per share for the current fiscal year.

DuPont de Nemours Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, August 30th. DuPont de Nemours’s payout ratio is currently 185.37%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup dropped their target price on shares of DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating for the company in a research report on Friday, July 12th. BMO Capital Markets upgraded shares of DuPont de Nemours from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $83.00 to $96.00 in a research note on Thursday, May 23rd. Wells Fargo & Company upgraded DuPont de Nemours from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $80.00 to $103.00 in a research report on Friday, May 24th. Deutsche Bank Aktiengesellschaft boosted their target price on DuPont de Nemours from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Barclays raised their price target on DuPont de Nemours from $81.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

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.