Summit Global Investments Makes New Investment in DuPont de Nemours, Inc. (NYSE:DD)

Summit Global Investments bought a new stake in shares of DuPont de Nemours, Inc. (NYSE:DD) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,050 shares of the basic materials company’s stock, valued at approximately $717,000.

A number of other hedge funds have also recently made changes to their positions in DD. ESL Trust Services LLC bought a new stake in DuPont de Nemours in the first quarter worth $26,000. Strategic Investment Solutions Inc. IL bought a new position in DuPont de Nemours in the 2nd quarter worth about $27,000. Denver PWM LLC bought a new position in DuPont de Nemours in the 2nd quarter worth about $28,000. Fortitude Family Office LLC increased its stake in DuPont de Nemours by 46.6% during the 2nd 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 in the last quarter. Finally, Quarry LP purchased a new position in DuPont de Nemours in the second quarter worth about $37,000. 73.96% of the stock is owned by institutional investors.

DuPont de Nemours Stock Down 2.8 %

DD opened at $84.17 on Friday. The firm’s 50 day simple moving average is $84.31 and its two-hundred day simple moving average is $81.28. The company has a market capitalization of $35.18 billion, a PE ratio of 44.30, a PEG ratio of 2.14 and a beta of 1.35. DuPont de Nemours, Inc. has a 1-year low of $61.14 and a 1-year high of $90.06. The company has a current ratio of 2.28, a quick ratio of 1.44 and a debt-to-equity ratio of 0.29.

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

DuPont de Nemours Dividend Announcement

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

Analysts Set New Price Targets

DD has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of DuPont de Nemours from $102.00 to $104.00 and gave the company an “outperform” rating in a report on Thursday. Morgan Stanley lifted their target price on DuPont de Nemours from $88.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Barclays upped 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. Wells Fargo & Company lifted their price objective on DuPont de Nemours from $105.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.42.

About DuPont de Nemours

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.