Industrial Alliance Investment Management Inc. Reduces Stake in DuPont de Nemours, Inc. (NYSE:DD)

Industrial Alliance Investment Management Inc. lessened its stake in shares of DuPont de Nemours, Inc. (NYSE:DD – Get Rating) by 1.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 145,540 shares of the basic materials company’s stock after selling 1,540 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in DuPont de Nemours were worth $7,335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its position in DuPont de Nemours by 8.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 22,837,296 shares of the basic materials company’s stock worth $1,269,298,000 after acquiring an additional 1,774,531 shares in the last quarter. Bank of Montreal Can increased its position in shares of DuPont de Nemours by 178.7% during the 2nd quarter. Bank of Montreal Can now owns 1,935,467 shares of the basic materials company’s stock valued at $111,627,000 after purchasing an additional 1,240,994 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of DuPont de Nemours by 25.3% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,863,691 shares of the basic materials company’s stock valued at $295,530,000 after buying an additional 1,183,622 shares in the last quarter. Mondrian Investment Partners LTD bought a new stake in DuPont de Nemours in the 3rd quarter worth approximately $50,341,000. Finally, Macquarie Group Ltd. boosted its stake in DuPont de Nemours by 8.7% in the third quarter. Macquarie Group Ltd. now owns 7,915,513 shares of the basic materials company’s stock worth $398,949,000 after buying an additional 635,732 shares in the last quarter. 71.91% of the stock is currently owned by institutional investors.

DuPont de Nemours Stock Down 3.5 %

Shares of DuPont de Nemours stock opened at $67.84 on Thursday. The company has a current ratio of 3.02, a quick ratio of 2.40 and a debt-to-equity ratio of 0.29. DuPont de Nemours, Inc. has a 12-month low of $49.52 and a 12-month high of $78.98. The company has a market cap of $31.09 billion, a P/E ratio of 5.69, a PEG ratio of 2.12 and a beta of 1.42. The company’s fifty day simple moving average is $73.67 and its two-hundred day simple moving average is $65.76.

DuPont de Nemours (NYSE:DD – Get Rating) last announced its quarterly earnings results on Tuesday, February 7th. The basic materials company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. DuPont de Nemours had a net margin of 44.54% and a return on equity of 6.45%. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the company earned $1.08 earnings per share. DuPont de Nemours’s quarterly revenue was down 27.9% on a year-over-year basis. Research analysts anticipate that DuPont de Nemours, Inc. will post 3.75 EPS for the current year.

DuPont de Nemours Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were given a $0.36 dividend. The ex-dividend date was Monday, February 27th. This represents a $1.44 annualized dividend and a dividend yield of 2.12%. This is a positive change from DuPont de Nemours’s previous quarterly dividend of $0.33. DuPont de Nemours’s dividend payout ratio is currently 12.08%.

Wall Street Analysts Forecast Growth

DD has been the topic of several research reports. JPMorgan Chase & Co. initiated coverage on shares of DuPont de Nemours in a research note on Tuesday, December 20th. They set an “overweight” rating on the stock. Mizuho boosted their price target on shares of DuPont de Nemours from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Royal Bank of Canada raised their price objective on DuPont de Nemours from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, February 9th. Barclays lifted their price objective on DuPont de Nemours from $71.00 to $80.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 8th. Finally, StockNews.com assumed coverage on DuPont de Nemours in a research report on Thursday. They set a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.14.

DuPont de Nemours Profile

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DuPont de Nemours, Inc operates as a holding company engaged in the development of specialty materials, chemicals, and agricultural products. It operates through the following segments: Electronics & Industrial, Water & Protection, and Corporate & Others. The Electronics & Industrial segment supplies differentiated materials and systems for a broad range of consumer electronics including mobile devices, television monitors, personal computers and electronics used in a variety of industries.