HB Wealth Management LLC Increases Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Posted by Defense World Staff on Apr 1st, 2023

HB Wealth Management LLC raised its holdings in shares of DuPont de Nemours, Inc. (NYSE:DD – Get Rating) by 39.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,525 shares of the basic materials company’s stock after buying an additional 2,700 shares during the quarter. HB Wealth Management LLC’s holdings in DuPont de Nemours were worth $654,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Canton Hathaway LLC bought a new stake in shares of DuPont de Nemours in the 4th quarter valued at about $25,000. Boyd Watterson Asset Management LLC OH bought a new position in DuPont de Nemours during the 4th quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC increased its holdings in shares of DuPont de Nemours by 5.1% in the 3rd quarter. Carolinas Wealth Consulting LLC now owns 3,678 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 180 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of DuPont de Nemours by 833.8% in the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 663 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 592 shares in the last quarter. Finally, Baystate Wealth Management LLC grew its holdings in shares of DuPont de Nemours by 282.8% in the fourth quarter. Baystate Wealth Management LLC now owns 513 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 379 shares during the period. 71.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on DD. Morgan Stanley lifted their target price on DuPont de Nemours from $72.00 to $79.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 8th. Royal Bank of Canada increased their price target on DuPont de Nemours from $85.00 to $92.00 and gave the stock an “outperform” rating in a report on Thursday, February 9th. Barclays raised their price objective on DuPont de Nemours from $71.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 8th. Citigroup increased their target price on DuPont de Nemours from $82.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Finally, JPMorgan Chase & Co. began coverage on DuPont de Nemours in a research report on Tuesday, December 20th. They issued an “overweight” rating for the company. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.14.

DuPont de Nemours Price Performance

NYSE:DD opened at $71.77 on Friday. The firm has a market cap of $32.90 billion, a P/E ratio of 6.02, a price-to-earnings-growth ratio of 2.13 and a beta of 1.42. The stock has a 50 day moving average of $72.65 and a two-hundred day moving average of $66.68. DuPont de Nemours, Inc. has a 12 month low of $49.52 and a 12 month high of $78.98. The company has a current ratio of 3.02, a quick ratio of 2.40 and a debt-to-equity ratio of 0.29.

DuPont de Nemours (NYSE:DD – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The basic materials company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. DuPont de Nemours had a return on equity of 6.45% and a net margin of 44.54%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the prior year, the firm posted $1.08 earnings per share. The firm’s quarterly revenue was down 27.9% on a year-over-year basis. On average, analysts expect that DuPont de Nemours, Inc. will post 3.75 earnings per share 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 given a dividend of $0.36 per share. The ex-dividend date was Monday, February 27th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change from DuPont de Nemours’s previous quarterly dividend of $0.33. DuPont de Nemours’s dividend payout ratio is currently 12.08%.

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.