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

State of Michigan Retirement System decreased its holdings in DuPont de Nemours, Inc. (NYSE:DD) by 0.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 113,394 shares of the basic materials company’s stock after selling 300 shares during the quarter. State of Michigan Retirement System’s holdings in DuPont de Nemours were worth $8,646,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DD. Hager Investment Management Services LLC acquired a new stake in shares of DuPont de Nemours in the fourth quarter valued at about $26,000. Byrne Asset Management LLC purchased a new position in DuPont de Nemours in the 4th quarter worth approximately $29,000. Golden State Wealth Management LLC acquired a new stake in DuPont de Nemours in the fourth quarter valued at approximately $33,000. Noble Wealth Management PBC purchased a new stake in shares of DuPont de Nemours during the fourth quarter valued at approximately $35,000. Finally, R Squared Ltd acquired a new position in shares of DuPont de Nemours during the fourth quarter worth $37,000. 73.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. UBS Group lifted their target price on DuPont de Nemours from $102.00 to $103.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Royal Bank of Canada reduced their price target on DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Citigroup raised their price objective on DuPont de Nemours from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, StockNews.com lowered DuPont de Nemours from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, DuPont de Nemours has an average rating of “Moderate Buy” and an average price target of $99.17.

DuPont de Nemours Stock Performance

Shares of DD opened at $79.57 on Thursday. The stock has a market capitalization of $33.26 billion, a PE ratio of 47.65, a price-to-earnings-growth ratio of 2.15 and a beta of 1.29. The business’s fifty day moving average price is $78.09 and its 200 day moving average price is $81.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.33 and a quick ratio of 0.88. DuPont de Nemours, Inc. has a 12-month low of $69.23 and a 12-month high of $90.06.

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

DuPont de Nemours Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, March 3rd. This is a positive change from DuPont de Nemours’s previous quarterly dividend of $0.38. This represents a $1.64 annualized dividend and a dividend yield of 2.06%. DuPont de Nemours’s dividend payout ratio is 98.20%.

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.