New York Life Investment Management LLC Makes New Investment in DuPont de Nemours, Inc. $DD

New York Life Investment Management LLC bought a new position in shares of DuPont de Nemours, Inc. (NYSE:DD) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,209 shares of the basic materials company’s stock, valued at approximately $2,625,000.

Other hedge funds have also recently added to or reduced their stakes in the company. AlphaCore Capital LLC increased its position in DuPont de Nemours by 9.1% during the third quarter. AlphaCore Capital LLC now owns 7,382 shares of the basic materials company’s stock worth $959,000 after purchasing an additional 614 shares during the last quarter. Fulcrum Asset Management LLP boosted its holdings in shares of DuPont de Nemours by 44,056.2% in the 3rd quarter. Fulcrum Asset Management LLP now owns 7,065 shares of the basic materials company’s stock valued at $919,000 after purchasing an additional 7,049 shares during the last quarter. Missouri Trust & Investment Co boosted its holdings in shares of DuPont de Nemours by 17.6% in the 3rd quarter. Missouri Trust & Investment Co now owns 15,022 shares of the basic materials company’s stock valued at $1,952,000 after purchasing an additional 2,247 shares during the last quarter. Bryn Mawr Trust Advisors LLC grew its stake in shares of DuPont de Nemours by 1.2% during the 3rd quarter. Bryn Mawr Trust Advisors LLC now owns 19,125 shares of the basic materials company’s stock valued at $2,484,000 after buying an additional 227 shares during the period. Finally, Landmark Wealth Management LLC purchased a new stake in shares of DuPont de Nemours during the 3rd quarter valued at $420,000. 73.96% of the stock is owned by institutional investors and hedge funds.

DuPont de Nemours Stock Down 0.8%

Shares of DuPont de Nemours stock traded down $1.22 during trading hours on Friday, hitting $153.48. 1,114,688 shares of the company’s stock traded hands, compared to its average volume of 1,179,576. DuPont de Nemours, Inc. has a twelve month low of $111.15 and a twelve month high of $159.48. The company has a market cap of $20.34 billion, a PE ratio of 68.83, a PEG ratio of 1.34 and a beta of 1.06. The company has a quick ratio of 1.74, a current ratio of 2.36 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $135.37 and a 200-day simple moving average of $139.37.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Tuesday, November 3rd. The basic materials company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.22. DuPont de Nemours had a return on equity of 6.85% and a net margin of 4.26%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the company posted $1.09 EPS. DuPont de Nemours’s quarterly revenue was up 4.1% on a year-over-year basis. Equities research analysts anticipate that DuPont de Nemours, Inc. will post 7.51 earnings per share for the current fiscal year.

DuPont de Nemours Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $2.40 annualized dividend and a dividend yield of 1.6%. DuPont de Nemours’s dividend payout ratio is 107.62%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DD shares. JPMorgan Chase & Co. lowered DuPont de Nemours from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $172.00 to $145.00 in a research report on Friday, October 9th. Royal Bank Of Canada boosted their price target on DuPont de Nemours from $160.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. The Goldman Sachs Group dropped their price target on DuPont de Nemours from $159.00 to $153.00 and set a “neutral” rating for the company in a research note on Wednesday, September 30th. Barclays lifted their price objective on DuPont de Nemours from $156.00 to $176.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. Finally, Citigroup boosted their target price on DuPont de Nemours from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. Twelve analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.88.

Insider Activity

In other DuPont de Nemours news, Director Edward D. Breen sold 89,845 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $146.41, for a total value of $13,154,206.45. Following the sale, the director directly owned 127,276 shares in the company, valued at approximately $18,634,479.16. This trade represents a 41.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Lori Koch sold 2,311 shares of the business’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $151.15, for a total transaction of $349,307.65. Following the transaction, the chief executive officer directly owned 115,715 shares of the company’s stock, valued at approximately $17,490,322.25. This trade represents a 1.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 96,359 shares of company stock valued at $14,137,411. 0.96% of the stock is currently owned by insiders.

DuPont de Nemours Profile

DuPont de Nemours is a science and materials company that develops products for customers in markets including construction, healthcare, water treatment, transportation and worker safety. Its offerings include protective materials such as Kevlar, Nomex and Tyvek, as well as Corian surface materials and technologies used in water purification and separation. The company traces its roots to 1802, when E. I. du Pont established a gunpowder mill in Delaware. Over time, DuPont expanded into a broad range of chemical and advanced-materials businesses.