Clearbridge Investments LLC Acquires 16,599 Shares of DuPont de Nemours, Inc. (NYSE:DD)

Clearbridge Investments LLC grew its holdings in shares of DuPont de Nemours, Inc. (NYSE:DD) by 2.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 620,693 shares of the basic materials company’s stock after acquiring an additional 16,599 shares during the period. Clearbridge Investments LLC owned about 0.12% of DuPont de Nemours worth $48,048,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. JNBA Financial Advisors raised its stake in shares of DuPont de Nemours by 98.2% during the second quarter. JNBA Financial Advisors now owns 323 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 160 shares during the last quarter. Newton One Investments LLC bought a new position in DuPont de Nemours during the second quarter worth $26,000. Benson Investment Management Company Inc. bought a new position in DuPont de Nemours during the second quarter worth $27,000. Alaethes Wealth LLC bought a new position in DuPont de Nemours during the second quarter worth $27,000. Finally, Meridian Wealth Partners LLC bought a new position in DuPont de Nemours during the first quarter worth $30,000. 70.55% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Luther C. Iv Kissam bought 5,000 shares of the company’s stock in a transaction on Thursday, August 5th. The shares were purchased at an average cost of $75.94 per share, for a total transaction of $379,700.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rose Lee sold 26,448 shares of the business’s stock in a transaction dated Tuesday, August 24th. The shares were sold at an average price of $74.37, for a total transaction of $1,966,937.76. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

DuPont de Nemours stock opened at $69.66 on Thursday. DuPont de Nemours, Inc. has a fifty-two week low of $55.22 and a fifty-two week high of $87.27. The stock has a market cap of $36.44 billion, a PE ratio of 6.97, a price-to-earnings-growth ratio of 1.54 and a beta of 1.50. The firm’s 50-day simple moving average is $71.97 and its 200 day simple moving average is $76.52. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.99 and a current ratio of 2.66.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings results on Tuesday, August 3rd. The basic materials company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.12. DuPont de Nemours had a net margin of 32.59% and a return on equity of 7.42%. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the previous year, the company earned $0.70 earnings per share. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. As a group, analysts predict that DuPont de Nemours, Inc. will post 4.14 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 15th. Investors of record on Tuesday, November 30th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.72%. DuPont de Nemours’s dividend payout ratio (DPR) is presently 35.71%.

A number of equities analysts recently weighed in on the stock. KeyCorp reissued a “buy” rating and set a $93.00 target price on shares of DuPont de Nemours in a research note on Thursday, September 16th. Credit Suisse Group lifted their target price on shares of DuPont de Nemours from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 4th. Zacks Investment Research raised shares of DuPont de Nemours from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Tuesday, October 5th. Mizuho started coverage on shares of DuPont de Nemours in a research note on Tuesday. They issued a “buy” rating and a $94.00 price target for the company. Finally, Citigroup lifted their price target on shares of DuPont de Nemours from $96.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, August 4th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $88.39.

DuPont de Nemours Profile

DuPont de Nemours, Inc operates as a holding company, which engages in the development of specialty materials, chemicals, and agricultural products. It operates through the following segments: Electronics & Imaging, Nutrition & Biosciences, Transportation & Industrial, Safety & Construction, and Non-Core.

Further Reading: Euro STOXX 50 Index

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

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