Neo Ivy Capital Management Acquires 32,966 Shares of DuPont de Nemours, Inc. (NYSE:DD)

Key Points

• Neo Ivy Capital Management significantly increased its stake in DuPont de Nemours by 1,257.3% during the first quarter, now holding 35,588 shares worth approximately $2.66 million.
• Recent analyst reports show a mixed outlook for DuPont, with price targets ranging from $75.00 to $93.00 and a consensus rating of "Moderate Buy."
• DuPont de Nemours reported earnings of $1.03 per share in the latest quarter, exceeding analyst expectations, alongside a quarterly revenue increase of 4.6% year-over-year.

Neo Ivy Capital Management boosted its holdings in DuPont de Nemours, Inc. (NYSE:DD - Free Report) by 1,257.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,588 shares of the basic materials company's stock after buying an additional 32,966 shares during the quarter. DuPont de Nemours accounts for about 0.8% of Neo Ivy Capital Management's investment portfolio, making the stock its 21st largest position. Neo Ivy Capital Management's holdings in DuPont de Nemours were worth $2,658,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in DD. Franklin Resources Inc. boosted its stake in DuPont de Nemours by 7.5% in the 4th quarter. Franklin Resources Inc. now owns 6,894,207 shares of the basic materials company's stock worth $525,683,000 after purchasing an additional 483,722 shares during the period. Northern Trust Corp boosted its stake in shares of DuPont de Nemours by 16.3% during the 4th quarter. Northern Trust Corp now owns 4,931,816 shares of the basic materials company's stock valued at $376,051,000 after buying an additional 690,218 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of DuPont de Nemours by 10.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,413,443 shares of the basic materials company's stock valued at $260,276,000 after buying an additional 336,000 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of DuPont de Nemours by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 3,347,098 shares of the basic materials company's stock valued at $249,961,000 after buying an additional 37,327 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of DuPont de Nemours by 15.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,107,025 shares of the basic materials company's stock valued at $236,909,000 after buying an additional 417,359 shares during the period. Institutional investors and hedge funds own 73.96% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DD. Royal Bank Of Canada decreased their target price on shares of DuPont de Nemours from $101.00 to $90.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. UBS Group lifted their target price on shares of DuPont de Nemours from $87.00 to $89.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Barclays decreased their target price on shares of DuPont de Nemours from $89.00 to $73.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 29th. KeyCorp lifted their target price on shares of DuPont de Nemours from $85.00 to $87.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Finally, Morgan Stanley decreased their target price on shares of DuPont de Nemours from $94.00 to $80.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.31.

DuPont de Nemours Stock Performance

Shares of NYSE:DD traded up $1.01 on Friday, hitting $75.81. 2,233,161 shares of the company were exchanged, compared to its average volume of 2,481,533. The company's 50 day moving average price is $70.56 and its two-hundred day moving average price is $71.98. DuPont de Nemours, Inc. has a one year low of $53.77 and a one year high of $90.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 1.40. The firm has a market capitalization of $31.72 billion, a price-to-earnings ratio of -398.97, a PEG ratio of 2.12 and a beta of 1.04.

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 (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.08. DuPont de Nemours had a negative net margin of 0.60% and a positive return on equity of 7.58%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the firm posted $0.79 EPS. The business's revenue was up 4.6% compared to the same quarter last year. Research analysts expect that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current year.

DuPont de Nemours Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.16%. DuPont de Nemours's payout ratio is -863.16%.

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.