Summit Trail Advisors LLC Increases Position in DuPont de Nemours, Inc. (NYSE:DD)

Summit Trail Advisors LLC increased its stake in DuPont de Nemours, Inc. (NYSE:DD) by 97.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,369 shares of the basic materials company’s stock after purchasing an additional 8,066 shares during the quarter. Summit Trail Advisors LLC’s holdings in DuPont de Nemours were worth $1,318,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of DuPont de Nemours by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 48,045,648 shares of the basic materials company’s stock worth $3,696,152,000 after buying an additional 3,168,740 shares in the last quarter. Putnam Investments LLC increased its stake in DuPont de Nemours by 3.2% during the fourth quarter. Putnam Investments LLC now owns 5,196,730 shares of the basic materials company’s stock valued at $399,784,000 after purchasing an additional 159,438 shares during the last quarter. Mondrian Investment Partners LTD boosted its holdings in shares of DuPont de Nemours by 9.5% during the first quarter. Mondrian Investment Partners LTD now owns 1,799,860 shares of the basic materials company’s stock valued at $137,995,000 after acquiring an additional 156,339 shares during the period. Canada Pension Plan Investment Board lifted its holdings in DuPont de Nemours by 34.0% in the first quarter. Canada Pension Plan Investment Board now owns 1,542,045 shares of the basic materials company’s stock worth $118,229,000 after purchasing an additional 391,400 shares during the period. Finally, Norges Bank acquired a new stake in DuPont de Nemours in the fourth quarter worth about $111,980,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DD. Barclays upped their target price on DuPont de Nemours from $81.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. Royal Bank of Canada upped their target price on DuPont de Nemours from $87.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Citigroup dropped their price objective on DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Deutsche Bank Aktiengesellschaft increased their target price on DuPont de Nemours from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, UBS Group increased their target price on DuPont de Nemours from $93.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DuPont de Nemours currently has an average rating of “Moderate Buy” and an average target price of $95.00.

DuPont de Nemours Price Performance

DuPont de Nemours stock opened at $83.34 on Friday. The stock has a fifty day moving average of $80.72 and a 200-day moving average of $78.53. DuPont de Nemours, Inc. has a 52 week low of $61.14 and a 52 week high of $85.12. The stock has a market capitalization of $34.84 billion, a P/E ratio of 101.63, a price-to-earnings-growth ratio of 2.12 and a beta of 1.33. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 2.21.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.12. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the company earned $0.85 earnings per share. DuPont de Nemours’s revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts expect that DuPont de Nemours, Inc. will post 3.74 earnings per share for the current fiscal year.

DuPont de Nemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 1.82%. DuPont de Nemours’s payout ratio is presently 185.37%.

DuPont de Nemours 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.