Mirae Asset Global Investments Co. Ltd. Makes New Investment in DuPont de Nemours, Inc. $DD

Mirae Asset Global Investments Co. Ltd. bought a new stake in DuPont de Nemours, Inc. (NYSE:DD) during the third quarter, HoldingsChannel.com reports. The fund bought 35,143 shares of the basic materials company’s stock, valued at approximately $4,565,000.

Several other hedge funds have also recently bought and sold shares of the stock. State Street Corp lifted its holdings in DuPont de Nemours by 140.3% in the second quarter. State Street Corp now owns 44,941,824 shares of the basic materials company’s stock valued at $6,095,909,000 after buying an additional 26,238,300 shares during the period. KBC Group NV increased its stake in DuPont de Nemours by 435.8% during the 1st quarter. KBC Group NV now owns 1,687,376 shares of the basic materials company’s stock worth $77,281,000 after purchasing an additional 1,372,435 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in shares of DuPont de Nemours by 7,762.1% during the third quarter. TD Waterhouse Canada Inc. now owns 949,117 shares of the basic materials company’s stock worth $123,281,000 after acquiring an additional 937,045 shares in the last quarter. Bank of America Corp DE raised its stake in shares of DuPont de Nemours by 22.0% in the 1st quarter. Bank of America Corp DE now owns 4,629,671 shares of the basic materials company’s stock valued at $212,039,000 after purchasing an additional 835,572 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in DuPont de Nemours in the 1st quarter valued at approximately $34,727,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

DuPont de Nemours Price Performance

DD stock opened at $144.77 on Friday. The company has a 50 day simple moving average of $133.07 and a 200 day simple moving average of $138.70. The stock has a market cap of $19.55 billion, a price-to-earnings ratio of 64.92, a P/E/G ratio of 1.35 and a beta of 1.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.36 and a quick ratio of 1.82. DuPont de Nemours, Inc. has a 1 year low of $111.15 and a 1 year high of $157.98.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings results on Tuesday, November 3rd. The basic materials company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.22. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.84 billion. DuPont de Nemours had a return on equity of 6.85% and a net margin of 4.26%. DuPont de Nemours’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 EPS. Research analysts anticipate that DuPont de Nemours, Inc. will post 7.49 EPS for the current fiscal year.

DuPont de Nemours Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. DuPont de Nemours’s payout ratio is currently 107.62%.

Trending Headlines about DuPont de Nemours

Here are the key news stories impacting DuPont de Nemours this week:

• Positive Sentiment: Several firms raised their price targets while maintaining bullish ratings: RBC lifted its target to $173 and kept an Outperform rating; Wells Fargo raised its target to $170 with an Overweight rating; UBS raised its target to $182 with a Buy rating; and Citi and Barclays each set targets of $176 with Buy or Overweight ratings. RBC price target article Wells Fargo price target article
• Positive Sentiment: DuPont’s latest reported quarter beat earnings and revenue expectations, with EPS of $2.09 versus the $1.87 consensus and revenue of $1.87 billion versus $1.84 billion expected. A report also noted the shares gapped up following the results. Shares gap up following earnings article
• Neutral Sentiment: A headline highlighted a new peptide-purification product, but the provided information does not detail its expected commercial impact. Peptide purification product article

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. cut shares of DuPont de Nemours from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $172.00 to $145.00 in a research report on Friday, October 9th. The Goldman Sachs Group cut their price target on DuPont de Nemours from $159.00 to $153.00 and set a “neutral” rating for the company in a report on Wednesday, September 30th. Barclays boosted their price objective on DuPont de Nemours from $156.00 to $176.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group upped their price target on shares of DuPont de Nemours from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Royal Bank Of Canada boosted their price target on DuPont de Nemours from $160.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday. Twelve investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, DuPont de Nemours presently has an average rating of “Moderate Buy” and an average price target of $165.88.

DuPont de Nemours Company Profile

DuPont de Nemours, Inc is a diversified science and technology company that develops engineered materials and specialty products for industrial and consumer markets. Its offerings are used in applications including electronics, semiconductor manufacturing, water purification, transportation, construction, healthcare, and worker and consumer protection.

The company’s product portfolio has historically included high-performance films, resins, adhesives, engineered polymers, specialty fibers, protective materials, water-treatment membranes, and filtration technologies.