Levin Capital Strategies L.P. Acquires New Position in DuPont de Nemours, Inc. (NYSE:DD)

Key Points

• Levin Capital Strategies L.P. acquired 4,720 shares of DuPont de Nemours, Inc., valued at approximately $352,000, during the first quarter of the year.
• DuPont de Nemours reported a quarterly EPS of $1.03, surpassing estimates and showing a 4.6% revenue increase compared to the previous year.
• The company declared a quarterly dividend of $0.41, set to be paid on September 15th, with an annualized yield of 2.3%.

Levin Capital Strategies L.P. bought a new position in shares of DuPont de Nemours, Inc. (NYSE:DD - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,720 shares of the basic materials company's stock, valued at approximately $352,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd grew its holdings in DuPont de Nemours by 479.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 365 shares of the basic materials company's stock worth $28,000 after acquiring an additional 302 shares in the last quarter. Vermillion Wealth Management Inc. bought a new position in shares of DuPont de Nemours during the fourth quarter worth about $28,000. JNBA Financial Advisors grew its stake 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 purchasing an additional 216 shares in the last quarter. Valley National Advisers Inc. increased its holdings 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 valued at $31,000 after buying an additional 248 shares during the last quarter. Finally, Covestor Ltd raised its stake in DuPont de Nemours by 78.8% during the fourth quarter. Covestor Ltd now owns 447 shares of the basic materials company's stock valued at $34,000 after buying an additional 197 shares in the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted 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. Royal Bank Of Canada dropped 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 report on Thursday, April 24th. Barclays reduced their price target on shares of DuPont de Nemours from $89.00 to $73.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th. Morgan Stanley lowered their price objective on shares of DuPont de Nemours from $94.00 to $80.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. Finally, Citigroup raised their target price on shares of DuPont de Nemours from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, DuPont de Nemours presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.92.

DuPont de Nemours Price Performance

Shares of NYSE DD traded up $0.05 during trading on Thursday, hitting $70.85. The company had a trading volume of 3,149,056 shares, compared to its average volume of 3,131,064. DuPont de Nemours, Inc. has a 52 week low of $53.77 and a 52 week high of $90.06. The business's 50-day moving average is $71.22 and its 200 day moving average is $71.76. The company has a market cap of $29.67 billion, a P/E ratio of -150.75, a PEG ratio of 1.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 1.41.

DuPont de Nemours (NYSE:DD - Get Free Report) last announced its earnings results on Tuesday, August 5th. The basic materials company reported $1.12 EPS 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 the consensus estimate of $3.23 billion. During the same period in the prior year, the business posted $0.97 earnings per share. DuPont de Nemours's revenue was up 2.7% compared to the same quarter last year. Equities research 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. Stockholders of record on Friday, August 29th will be issued a dividend of $0.41 per share. The ex-dividend date is Friday, August 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.3%. DuPont de Nemours's payout ratio is currently -348.94%.

DuPont de Nemours 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.