Sumitomo Life Insurance Co. Acquires 385 Shares of DuPont de Nemours, Inc. (NYSE:DD)

by · The Markets Daily

Sumitomo Life Insurance Co. grew its holdings in DuPont de Nemours, Inc. (NYSE:DD – Free Report) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,109 shares of the basic materials company’s stock after purchasing an additional 385 shares during the period. Sumitomo Life Insurance Co.’s holdings in DuPont de Nemours were worth $1,257,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of DD. Palisade Asset Management LLC bought a new stake in DuPont de Nemours in the 1st quarter worth about $25,000. ESL Trust Services LLC purchased a new stake in shares of DuPont de Nemours during the 1st quarter valued at about $26,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of DuPont de Nemours in the second quarter worth approximately $27,000. Denver PWM LLC purchased a new position in shares of DuPont de Nemours during the second quarter valued at approximately $28,000. Finally, Fortitude Family Office LLC lifted its position in DuPont de Nemours by 46.6% during the second quarter. Fortitude Family Office LLC now owns 412 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on DD. Barclays lowered shares of DuPont de Nemours from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $88.00 to $84.00 in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft increased their target price on DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada boosted their price target on DuPont de Nemours from $87.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Citigroup lowered their price objective on shares of DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.91.

Read Our Latest Report on DD

DuPont de Nemours Stock Up 0.7 %

Shares of DD stock opened at $85.30 on Thursday. The company has a market capitalization of $35.66 billion, a price-to-earnings ratio of 104.02, a PEG ratio of 2.26 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 1.44. The company’s fifty day moving average price is $83.08 and its 200-day moving average price is $80.20. DuPont de Nemours, Inc. has a one year low of $61.14 and a one year high of $90.06.

DuPont de Nemours (NYSE:DD – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.85 by $0.12. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the business earned $0.85 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. Sell-side analysts expect that DuPont de Nemours, Inc. will post 3.76 EPS for the current fiscal year.

DuPont de Nemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.78%. DuPont de Nemours’s payout ratio is 185.37%.

DuPont de Nemours Profile

(Free Report)

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.

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