Gateway Investment Advisers LLC Grows Stock Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Posted by on Mar 24th, 2023

Gateway Investment Advisers LLC raised its position in DuPont de Nemours, Inc. (NYSE:DD – Get Rating) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,672 shares of the basic materials company’s stock after acquiring an additional 1,103 shares during the quarter. Gateway Investment Advisers LLC’s holdings in DuPont de Nemours were worth $3,203,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Baystate Wealth Management LLC increased its position in shares of DuPont de Nemours by 282.8% during the fourth quarter. Baystate Wealth Management LLC now owns 513 shares of the basic materials company’s stock valued at $35,000 after buying an additional 379 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of DuPont de Nemours by 833.8% during the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 663 shares of the basic materials company’s stock valued at $33,000 after buying an additional 592 shares during the period. Fairfield Bush & CO. purchased a new position in shares of DuPont de Nemours during the first quarter valued at about $50,000. General Partner Inc. purchased a new position in shares of DuPont de Nemours during the fourth quarter valued at about $48,000. Finally, MV Capital Management Inc. increased its position in shares of DuPont de Nemours by 54.8% during the third quarter. MV Capital Management Inc. now owns 828 shares of the basic materials company’s stock valued at $42,000 after buying an additional 293 shares during the period. Hedge funds and other institutional investors own 71.91% of the company’s stock.

DuPont de Nemours Trading Up 0.2 %

Shares of NYSE DD opened at $68.36 on Friday. The firm’s 50 day moving average price is $73.10 and its 200-day moving average price is $66.21. The company has a market cap of $31.33 billion, a PE ratio of 5.73, a P/E/G ratio of 2.08 and a beta of 1.42. DuPont de Nemours, Inc. has a 52-week low of $49.52 and a 52-week high of $78.98. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.40 and a current ratio of 3.02.

DuPont de Nemours (NYSE:DD – Get Rating) last issued its earnings results on Tuesday, February 7th. The basic materials company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. DuPont de Nemours had a net margin of 44.54% and a return on equity of 6.45%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. The business’s revenue was down 27.9% on a year-over-year basis. On average, equities research analysts expect that DuPont de Nemours, Inc. will post 3.75 EPS for the current fiscal year.

DuPont de Nemours Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.11%. This is a boost from DuPont de Nemours’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, February 27th. DuPont de Nemours’s payout ratio is presently 12.08%.

Analysts Set New Price Targets

DD has been the topic of several research reports. Citigroup boosted their price objective on shares of DuPont de Nemours from $82.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. StockNews.com initiated coverage on shares of DuPont de Nemours in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Royal Bank of Canada boosted their price objective on shares of DuPont de Nemours from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, February 9th. Barclays boosted their price objective on shares of DuPont de Nemours from $71.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 8th. Finally, JPMorgan Chase & Co. initiated coverage on shares of DuPont de Nemours in a research note on Tuesday, December 20th. They set an “overweight” rating on the stock. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, DuPont de Nemours presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.14.

DuPont de Nemours Company Profile

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DuPont de Nemours, Inc operates as a holding company engaged in the development of specialty materials, chemicals, and agricultural products. It operates through the following segments: Electronics & Industrial, Water & Protection, and Corporate & Others. The Electronics & Industrial segment supplies differentiated materials and systems for a broad range of consumer electronics including mobile devices, television monitors, personal computers and electronics used in a variety of industries.

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Institutional Ownership by Quarter for DuPont de Nemours (NYSE:DD)

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