Allstate Corp Invests $957,000 in DuPont de Nemours, Inc. (NYSE:DD)

Allstate Corp acquired a new position in shares of DuPont de Nemours, Inc. (NYSE:DD) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 12,555 shares of the basic materials company’s stock, valued at approximately $957,000.

A number of other hedge funds have also bought and sold shares of the company. Level Four Advisory Services LLC grew its holdings in DuPont de Nemours by 2.8% during the 4th quarter. Level Four Advisory Services LLC now owns 4,679 shares of the basic materials company’s stock worth $357,000 after acquiring an additional 129 shares during the period. Lake Street Advisors Group LLC boosted its position in shares of DuPont de Nemours by 3.2% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,231 shares of the basic materials company’s stock valued at $323,000 after purchasing an additional 132 shares in the last quarter. Global Trust Asset Management LLC grew its stake in DuPont de Nemours by 1.5% during the fourth quarter. Global Trust Asset Management LLC now owns 9,227 shares of the basic materials company’s stock worth $704,000 after purchasing an additional 133 shares during the period. Avior Wealth Management LLC increased its holdings in DuPont de Nemours by 22.7% in the fourth quarter. Avior Wealth Management LLC now owns 741 shares of the basic materials company’s stock worth $57,000 after purchasing an additional 137 shares in the last quarter. Finally, Howard Capital Management Inc. lifted its stake in DuPont de Nemours by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 2,809 shares of the basic materials company’s stock valued at $214,000 after buying an additional 144 shares during the period. Institutional investors own 73.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on DD. JPMorgan Chase & Co. reduced their price objective on shares of DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Barclays raised shares of DuPont de Nemours from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $85.00 to $89.00 in a research note on Thursday, February 13th. UBS Group increased their price objective on shares of DuPont de Nemours from $102.00 to $103.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Wolfe Research raised DuPont de Nemours from a “peer perform” rating to an “outperform” rating and set a $91.00 target price for the company in a research report on Friday, January 17th. Finally, StockNews.com lowered DuPont de Nemours from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, DuPont de Nemours currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.17.

DuPont de Nemours Price Performance

Shares of NYSE:DD opened at $74.72 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 0.88 and a debt-to-equity ratio of 0.22. The stock has a market cap of $31.24 billion, a PE ratio of 44.74, a price-to-earnings-growth ratio of 2.15 and a beta of 1.29. The stock’s fifty day simple moving average is $78.40 and its two-hundred day simple moving average is $80.71. DuPont de Nemours, Inc. has a 1-year low of $72.38 and a 1-year high of $90.06.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings results on Tuesday, February 11th. The basic materials company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.15. DuPont de Nemours had a net margin of 5.47% and a return on equity of 7.12%. As a group, analysts forecast that DuPont de Nemours, Inc. will post 4.38 EPS for the current fiscal year.

DuPont de Nemours Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.19%. This is an increase from DuPont de Nemours’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Monday, March 3rd. DuPont de Nemours’s dividend payout ratio (DPR) is presently 98.20%.

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.