Norges Bank Takes $146.61 Million Position in DuPont de Nemours, Inc. (NYSE:DD)

Norges Bank acquired a new position in DuPont de Nemours, Inc. (NYSE:DD) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,922,683 shares of the basic materials company’s stock, valued at approximately $146,605,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DD. Lake Street Advisors Group LLC increased its stake in shares of DuPont de Nemours by 3.2% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,231 shares of the basic materials company’s stock worth $323,000 after purchasing an additional 132 shares during the last quarter. Global Trust Asset Management LLC increased its position in DuPont de Nemours by 1.5% during the fourth quarter. Global Trust Asset Management LLC now owns 9,227 shares of the basic materials company’s stock worth $704,000 after buying an additional 133 shares during the last quarter. Avior Wealth Management LLC raised its holdings in DuPont de Nemours by 22.7% during the fourth quarter. Avior Wealth Management LLC now owns 741 shares of the basic materials company’s stock valued at $57,000 after buying an additional 137 shares in the last quarter. Howard Capital Management Inc. lifted its position in shares of DuPont de Nemours by 5.4% in the fourth quarter. Howard Capital Management Inc. now owns 2,809 shares of the basic materials company’s stock worth $214,000 after buying an additional 144 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of DuPont de Nemours by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,117 shares of the basic materials company’s stock worth $178,000 after acquiring an additional 146 shares in the last quarter. Institutional investors own 73.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on DD shares. UBS Group raised their price objective on DuPont de Nemours from $102.00 to $103.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Wells Fargo & Company reduced their price objective on shares of DuPont de Nemours from $107.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. Barclays upgraded shares of DuPont de Nemours from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $85.00 to $89.00 in a research note on Thursday, February 13th. Royal Bank of Canada cut their target price on shares of DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, BMO Capital Markets raised their price target on DuPont de Nemours from $105.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.17.

DuPont de Nemours Stock Up 0.9 %

DD stock opened at $74.72 on Tuesday. DuPont de Nemours, Inc. has a twelve month low of $72.38 and a twelve month high of $90.06. The company has a quick ratio of 0.88, a current ratio of 1.33 and a debt-to-equity ratio of 0.22. The company has a market cap of $31.24 billion, a PE ratio of 44.74, a price-to-earnings-growth ratio of 2.15 and a beta of 1.29. The business’s 50-day simple moving average is $78.40 and its 200 day simple moving average is $80.71.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings data on Tuesday, February 11th. The basic materials company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.15. DuPont de Nemours had a return on equity of 7.12% and a net margin of 5.47%. On average, research analysts anticipate that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current year.

DuPont de Nemours Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.19%. This is an increase from DuPont de Nemours’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Monday, March 3rd. DuPont de Nemours’s dividend payout ratio (DPR) is presently 98.20%.

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.