Easterly Investment Partners LLC Invests $4.58 Million in DuPont de Nemours, Inc. (NYSE:DD)

Easterly Investment Partners LLC purchased a new position in shares of DuPont de Nemours, Inc. (NYSE:DD - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 61,348 shares of the basic materials company's stock, valued at approximately $4,581,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. lifted its position in DuPont de Nemours by 0.9% during the first quarter. Cullen Frost Bankers Inc. now owns 235,095 shares of the basic materials company's stock valued at $17,557,000 after buying an additional 2,045 shares in the last quarter. Parcion Private Wealth LLC lifted its position in DuPont de Nemours by 2.8% during the first quarter. Parcion Private Wealth LLC now owns 29,331 shares of the basic materials company's stock valued at $2,190,000 after buying an additional 805 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of DuPont de Nemours by 5.6% during the first quarter. Victory Capital Management Inc. now owns 169,616 shares of the basic materials company's stock worth $12,667,000 after purchasing an additional 8,933 shares in the last quarter. Bridgewater Advisors Inc. acquired a new position in shares of DuPont de Nemours during the first quarter worth $634,000. Finally, Wealthfront Advisers LLC lifted its position in shares of DuPont de Nemours by 6.6% during the first quarter. Wealthfront Advisers LLC now owns 35,275 shares of the basic materials company's stock worth $2,634,000 after purchasing an additional 2,180 shares in the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

DuPont de Nemours Stock Performance

DD stock opened at $73.95 on Thursday. The company has a market capitalization of $30.95 billion, a P/E ratio of -389.19, a PEG ratio of 2.10 and a beta of 1.04. The company has a 50-day simple moving average of $69.56 and a 200 day simple moving average of $71.96. DuPont de Nemours, Inc. has a fifty-two week low of $53.77 and a fifty-two week high of $90.06. The company has a quick ratio of 0.91, a current ratio of 1.40 and a debt-to-equity ratio of 0.23.

DuPont de Nemours (NYSE:DD - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The basic materials company reported $1.03 earnings per share for the quarter, topping the consensus estimate 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 negative net margin of 0.60% and a positive return on equity of 7.58%. The company's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 earnings per share. Sell-side analysts predict that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current fiscal year.

DuPont de Nemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Friday, August 29th. DuPont de Nemours's payout ratio is -863.16%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of DuPont de Nemours from $81.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday. Royal Bank Of Canada reduced their target price on shares of DuPont de Nemours from $101.00 to $90.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley reduced their target price on shares of DuPont de Nemours from $94.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. UBS Group boosted their target price on shares of DuPont de Nemours from $85.00 to $87.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Mizuho upped their price target on shares of DuPont de Nemours from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.15.

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.

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