State of Michigan Retirement System Increases Position in DuPont de Nemours, Inc. (NYSE:DD)

State of Michigan Retirement System lifted its position in shares of DuPont de Nemours, Inc. (NYSE:DD) by 0.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 117,894 shares of the basic materials company’s stock after buying an additional 200 shares during the period. State of Michigan Retirement System’s holdings in DuPont de Nemours were worth $9,039,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DD. Federated Hermes Inc. increased its position in DuPont de Nemours by 96.7% during the third quarter. Federated Hermes Inc. now owns 2,178 shares of the basic materials company’s stock worth $162,000 after purchasing an additional 1,071 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in DuPont de Nemours during the third quarter worth approximately $5,018,000. Insigneo Advisory Services LLC acquired a new position in DuPont de Nemours during the third quarter worth approximately $219,000. AQR Capital Management LLC increased its position in DuPont de Nemours by 30.7% during the third quarter. AQR Capital Management LLC now owns 89,275 shares of the basic materials company’s stock worth $6,659,000 after purchasing an additional 20,988 shares during the last quarter. Finally, First National Bank of Omaha increased its position in DuPont de Nemours by 16.9% during the third quarter. First National Bank of Omaha now owns 3,450 shares of the basic materials company’s stock worth $257,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Analyst Ratings Changes

DD has been the subject of several research analyst reports. UBS Group upped their price target on shares of DuPont de Nemours from $93.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Wells Fargo & Company raised shares of DuPont de Nemours from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $80.00 to $103.00 in a research report on Friday, May 24th. Jefferies Financial Group raised shares of DuPont de Nemours from a “hold” rating to a “buy” rating and increased their price objective for the stock from $78.00 to $101.00 in a research report on Friday, May 17th. JPMorgan Chase & Co. increased their price objective on shares of DuPont de Nemours from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Mizuho increased their price objective on shares of DuPont de Nemours from $83.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.09.

DuPont de Nemours Stock Up 0.1 %

NYSE DD traded up $0.10 during trading hours on Tuesday, reaching $79.37. 1,760,317 shares of the company traded hands, compared to its average volume of 2,913,090. DuPont de Nemours, Inc. has a 12 month low of $61.14 and a 12 month high of $82.63. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $33.18 billion, a PE ratio of 96.66, a PEG ratio of 2.51 and a beta of 1.34. The company has a 50 day moving average of $79.05 and a two-hundred day moving average of $74.67.

DuPont de Nemours (NYSE:DD) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.14. DuPont de Nemours had a net margin of 2.75% and a return on equity of 6.07%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the firm posted $0.84 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts expect that DuPont de Nemours, Inc. will post 3.63 earnings per share for the current year.

DuPont de Nemours Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.92%. DuPont de Nemours’s payout ratio is currently 185.37%.

Insider Transactions at DuPont de Nemours

In other news, insider Michael G. Goss sold 1,339 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $78.33, for a total value of $104,883.87. Following the transaction, the insider now directly owns 14,012 shares in the company, valued at approximately $1,097,559.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Michael G. Goss sold 1,339 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $78.33, for a total value of $104,883.87. Following the sale, the insider now owns 14,012 shares of the company’s stock, valued at approximately $1,097,559.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Leland Weaver sold 18,500 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $78.40, for a total transaction of $1,450,400.00. Following the completion of the sale, the insider now directly owns 24,476 shares in the company, valued at approximately $1,918,918.40. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

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.