Allspring Global Investments Holdings LLC Boosts Stock Position in DuPont de Nemours, Inc. (NYSE:DD)

Allspring Global Investments Holdings LLC raised its position in shares of DuPont de Nemours, Inc. (NYSE:DD) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,126 shares of the basic materials company’s stock after buying an additional 540 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in DuPont de Nemours were worth $1,793,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of DD. Resonant Capital Advisors LLC acquired a new stake in DuPont de Nemours during the 3rd quarter valued at approximately $210,000. Chicago Capital LLC boosted its holdings in DuPont de Nemours by 6.2% in the third quarter. Chicago Capital LLC now owns 3,214 shares of the basic materials company’s stock valued at $286,000 after purchasing an additional 188 shares during the last quarter. Stratos Wealth Advisors LLC purchased a new stake in DuPont de Nemours in the third quarter valued at $248,000. V Square Quantitative Management LLC boosted its holdings in DuPont de Nemours by 23.1% in the third quarter. V Square Quantitative Management LLC now owns 5,363 shares of the basic materials company’s stock valued at $478,000 after purchasing an additional 1,008 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in DuPont de Nemours by 2.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,261 shares of the basic materials company’s stock worth $5,281,000 after purchasing an additional 1,656 shares during the period. 73.96% of the stock is currently owned by institutional investors.

DuPont de Nemours Stock Performance

Shares of DuPont de Nemours stock opened at $83.27 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 2.21. The firm has a market cap of $34.78 billion, a PE ratio of 54.78, a price-to-earnings-growth ratio of 2.26 and a beta of 1.34. DuPont de Nemours, Inc. has a 1 year low of $61.14 and a 1 year high of $90.06. The firm’s 50-day simple moving average is $84.07 and its 200-day simple moving average is $80.76.

DuPont de Nemours (NYSE:DD) last announced its earnings results 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 firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts forecast that DuPont de Nemours, Inc. will post 3.76 earnings per share for the current fiscal year.

DuPont de Nemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.83%. DuPont de Nemours’s payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Citigroup dropped their price objective on shares of DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Deutsche Bank Aktiengesellschaft raised their price target on shares of DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Barclays lowered shares of DuPont de Nemours from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $88.00 to $84.00 in a research note on Monday, October 7th. Morgan Stanley lifted their price target on DuPont de Nemours from $88.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada increased their price target on DuPont de Nemours from $87.00 to $102.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Two research analysts have 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.83.

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.