PNC Financial Services Group Inc. grew its stake in DuPont de Nemours, Inc. (NYSE:DD – Free Report) by 21.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,119,613 shares of the basic materials company’s stock after buying an additional 200,550 shares during the quarter. PNC Financial Services Group Inc. owned 0.27% of DuPont de Nemours worth $45,008,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of DuPont de Nemours by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 50,867,267 shares of the basic materials company’s stock valued at $3,962,560,000 after buying an additional 3,203,044 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in DuPont de Nemours by 12,133.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,614,878 shares of the basic materials company’s stock worth $365,921,000 after purchasing an additional 9,536,283 shares during the period. Invesco Ltd. raised its holdings in DuPont de Nemours by 28.2% in the 3rd quarter. Invesco Ltd. now owns 8,828,110 shares of the basic materials company’s stock worth $687,710,000 after purchasing an additional 1,942,589 shares during the period. Franklin Resources Inc. raised its holdings in DuPont de Nemours by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 7,096,122 shares of the basic materials company’s stock worth $552,788,000 after purchasing an additional 98,590 shares during the period. Finally, Boston Partners raised its holdings in DuPont de Nemours by 15.1% in the 3rd quarter. Boston Partners now owns 4,007,738 shares of the basic materials company’s stock worth $312,206,000 after purchasing an additional 524,737 shares during the period. Institutional investors and hedge funds own 73.96% of the company’s stock.
DuPont de Nemours Price Performance
Shares of DuPont de Nemours stock opened at $47.20 on Friday. The business has a 50 day simple moving average of $46.64 and a two-hundred day simple moving average of $44.43. DuPont de Nemours, Inc. has a 12 month low of $27.16 and a 12 month high of $52.66. The stock has a market capitalization of $19.35 billion, a P/E ratio of -786.57, a PEG ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.68 and a quick ratio of 2.11.
DuPont de Nemours Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.7%. DuPont de Nemours’s dividend payout ratio is presently -1,333.33%.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on DD. Morgan Stanley upped their price target on DuPont de Nemours from $44.00 to $52.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Royal Bank Of Canada upped their price target on DuPont de Nemours from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft upped their price target on DuPont de Nemours from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. BMO Capital Markets upped their price target on DuPont de Nemours from $25.10 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Finally, Bank of America reduced their price target on DuPont de Nemours from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Tuesday, April 21st. Twelve research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.21.
Check Out Our Latest Stock Analysis on DD
About DuPont de Nemours
DuPont de Nemours (NYSE: DD) is a global science and engineering company that develops and supplies specialty materials, chemicals and industrial biosciences for a wide range of markets. Headquartered in Wilmington, Delaware, the company traces its origins to 1802 and has evolved through more than two centuries of innovation. In recent history DuPont participated in a major combination with Dow Chemical and subsequent reorganization that refocused the company on differentiated, specialty businesses built around science-based solutions.
DuPont’s operations center on advanced materials and technologies used by manufacturers and OEMs in industries such as transportation, electronics, construction, industrial manufacturing and worker safety.
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