Nuveen LLC Purchases New Shares in DuPont de Nemours, Inc. (NYSE:DD)

Key Points

• Nuveen LLC has purchased a significant stake in DuPont de Nemours, Inc., acquiring 7,110,827 shares valued at approximately $531 million, which represents 1.70% of the company.
• Financial analysts have recently adjusted their price targets for DuPont, with JPMorgan raising it to $93.00 and UBS increasing it to $89.00, reflecting positive sentiment with a consensus rating of "Moderate Buy."
• DuPont reported a quarterly earnings per share (EPS) of $1.12, surpassing analysts' expectations, and announced a quarterly dividend of $0.41 per share, reflecting a dividend yield of 2.3%.

Nuveen LLC acquired a new position in shares of DuPont de Nemours, Inc. (NYSE:DD - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,110,827 shares of the basic materials company's stock, valued at approximately $531,037,000. Nuveen LLC owned about 1.70% of DuPont de Nemours at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. acquired a new stake in DuPont de Nemours in the fourth quarter worth $28,000. JNBA Financial Advisors increased its position in DuPont de Nemours by 132.5% in the first quarter. JNBA Financial Advisors now owns 379 shares of the basic materials company's stock worth $28,000 after buying an additional 216 shares during the period. Valley National Advisers Inc. increased its position in DuPont de Nemours by 145.0% in the first quarter. Valley National Advisers Inc. now owns 419 shares of the basic materials company's stock worth $31,000 after buying an additional 248 shares during the period. Covestor Ltd increased its position in DuPont de Nemours by 78.8% in the fourth quarter. Covestor Ltd now owns 447 shares of the basic materials company's stock worth $34,000 after buying an additional 197 shares during the period. Finally, Pinney & Scofield Inc. acquired a new stake in DuPont de Nemours in the fourth quarter worth $36,000. 73.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank Of Canada increased their target price on DuPont de Nemours from $93.00 to $94.00 and gave the stock an "outperform" rating in a research report on Friday. KeyCorp increased their target price on DuPont de Nemours from $87.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. UBS Group increased their target price on DuPont de Nemours from $87.00 to $89.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their price target on DuPont de Nemours from $78.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Wells Fargo & Company raised their price target on DuPont de Nemours from $81.00 to $90.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $88.25.

DuPont de Nemours Price Performance

DD stock traded up $2.09 during trading hours on Tuesday, hitting $71.99. 3,126,596 shares of the stock traded hands, compared to its average volume of 3,276,263. The stock has a 50-day simple moving average of $71.47 and a 200 day simple moving average of $71.57. DuPont de Nemours, Inc. has a one year low of $53.77 and a one year high of $90.06. The company has a market cap of $30.14 billion, a P/E ratio of -153.17, a P/E/G ratio of 1.74 and a beta of 1.06. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23.

DuPont de Nemours (NYSE:DD - Get Free Report) last announced its earnings results on Tuesday, August 5th. The basic materials company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. DuPont de Nemours had a positive return on equity of 7.85% and a negative net margin of 1.54%. The business had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.23 billion. During the same quarter last year, the business posted $0.97 earnings per share. The company's quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts forecast that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current year.

DuPont de Nemours Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.64 annualized dividend and a yield of 2.3%. DuPont de Nemours's dividend payout ratio (DPR) is currently -348.94%.

DuPont de Nemours Company 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.