The Manufacturers Life Insurance Company Raises Stake in DuPont de Nemours, Inc. (NYSE:DD)

The Manufacturers Life Insurance Company boosted its stake in DuPont de Nemours, Inc. (NYSE:DD) by 164.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 718,019 shares of the basic materials company’s stock after purchasing an additional 446,948 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.17% of DuPont de Nemours worth $63,983,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL bought a new stake in DuPont de Nemours during the 2nd quarter worth approximately $27,000. Denver PWM LLC bought a new position in shares of DuPont de Nemours in the second quarter worth $28,000. Fortitude Family Office LLC raised its position in shares of DuPont de Nemours by 46.6% in the second quarter. Fortitude Family Office LLC now owns 412 shares of the basic materials company’s stock worth $33,000 after buying an additional 131 shares in the last quarter. Quarry LP bought a new stake in DuPont de Nemours during the second quarter valued at $37,000. Finally, Ashton Thomas Securities LLC purchased a new position in DuPont de Nemours during the third quarter worth about $38,000. 73.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DD shares. Barclays raised their price target on DuPont de Nemours from $84.00 to $85.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their target price on shares of DuPont de Nemours from $102.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price target on shares of DuPont de Nemours from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Morgan Stanley lifted their price objective on shares of DuPont de Nemours from $88.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, DuPont de Nemours presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.42.

DuPont de Nemours Price Performance

Shares of DuPont de Nemours stock opened at $83.88 on Thursday. The stock has a market capitalization of $35.06 billion, a P/E ratio of 44.15, a price-to-earnings-growth ratio of 2.02 and a beta of 1.35. DuPont de Nemours, Inc. has a one year low of $61.14 and a one year high of $90.06. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.28 and a quick ratio of 1.49. The business’s 50 day simple moving average is $84.71 and its two-hundred day simple moving average is $81.84.

DuPont de Nemours (NYSE:DD) last posted its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.15. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.20 billion. DuPont de Nemours had a net margin of 6.35% and a return on equity of 6.64%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 EPS. Analysts forecast that DuPont de Nemours, Inc. will post 3.91 EPS for the current year.

DuPont de Nemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.38 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 1.81%. DuPont de Nemours’s payout ratio is presently 80.00%.

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.