Assenagon Asset Management S.A. Boosts Holdings in DuPont de Nemours, Inc. (NYSE:DD)

Assenagon Asset Management S.A. raised its holdings in shares of DuPont de Nemours, Inc. (NYSE:DD) by 87.1% in the 1st quarter, Holdings Channel reports. The firm owned 1,980,833 shares of the basic materials company’s stock after purchasing an additional 922,387 shares during the quarter. Assenagon Asset Management S.A.’s holdings in DuPont de Nemours were worth $147,929,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Accurate Wealth Management LLC lifted its position in shares of DuPont de Nemours by 13.5% during the first quarter. Accurate Wealth Management LLC now owns 4,431 shares of the basic materials company’s stock worth $331,000 after purchasing an additional 528 shares during the last quarter. Pallas Capital Advisors LLC lifted its position in shares of DuPont de Nemours by 64.8% during the first quarter. Pallas Capital Advisors LLC now owns 10,785 shares of the basic materials company’s stock worth $805,000 after purchasing an additional 4,240 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of DuPont de Nemours by 5.8% during the first quarter. First Citizens Bank & Trust Co. now owns 5,338 shares of the basic materials company’s stock worth $399,000 after purchasing an additional 294 shares during the last quarter. Central Bank & Trust Co. lifted its position in shares of DuPont de Nemours by 4.5% during the first quarter. Central Bank & Trust Co. now owns 16,282 shares of the basic materials company’s stock worth $1,216,000 after purchasing an additional 703 shares during the last quarter. Finally, Miracle Mile Advisors LLC lifted its position in shares of DuPont de Nemours by 11.2% during the first quarter. Miracle Mile Advisors LLC now owns 15,469 shares of the basic materials company’s stock worth $1,155,000 after purchasing an additional 1,554 shares during the last quarter. 73.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DD shares. Bank of America upgraded DuPont de Nemours from an “underperform” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $75.00 in a research report on Tuesday, April 15th. Mizuho decreased their price objective on DuPont de Nemours from $100.00 to $80.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. lifted their price objective on DuPont de Nemours from $78.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, May 16th. UBS Group lifted their price objective on DuPont de Nemours from $79.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, May 21st. Finally, Morgan Stanley decreased their price objective on DuPont de Nemours from $94.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, DuPont de Nemours presently has an average rating of “Moderate Buy” and an average price target of $85.92.

DuPont de Nemours Stock Performance

Shares of DuPont de Nemours stock opened at $70.12 on Wednesday. The company has a market capitalization of $29.35 billion, a PE ratio of 41.99, a P/E/G ratio of 2.15 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 1.33. The company has a 50-day simple moving average of $64.98 and a two-hundred day simple moving average of $73.72. DuPont de Nemours, Inc. has a one year low of $53.77 and a one year high of $90.06.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Friday, May 2nd. The basic materials company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.05 billion. DuPont de Nemours had a net margin of 5.47% and a return on equity of 7.12%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. Research analysts expect that DuPont de Nemours, Inc. will post 4.38 EPS for the current fiscal year.

DuPont de Nemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.41 per share. The ex-dividend date is Friday, May 30th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.34%. DuPont de Nemours’s payout ratio is -863.16%.

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.