The Manufacturers Life Insurance Company Buys 446,948 Shares of DuPont de Nemours, Inc. (NYSE:DD)

The Manufacturers Life Insurance Company grew its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 164.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 718,019 shares of the basic materials company’s stock after purchasing an additional 446,948 shares during the period. The Manufacturers Life Insurance Company’s holdings in DuPont de Nemours were worth $63,983,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of DD. Zurich Insurance Group Ltd FI purchased a new stake in DuPont de Nemours in the second quarter worth about $83,540,000. Renaissance Technologies LLC bought a new stake in shares of DuPont de Nemours during the second quarter valued at approximately $67,665,000. Ceredex Value Advisors LLC grew its stake in DuPont de Nemours by 95.0% in the second quarter. Ceredex Value Advisors LLC now owns 1,165,164 shares of the basic materials company’s stock worth $93,784,000 after purchasing an additional 567,732 shares during the period. Panagora Asset Management Inc. raised its holdings in DuPont de Nemours by 1,800.2% in the second quarter. Panagora Asset Management Inc. now owns 345,391 shares of the basic materials company’s stock worth $27,801,000 after purchasing an additional 327,214 shares in the last quarter. Finally, Shellback Capital LP lifted its position in DuPont de Nemours by 167.0% during the second quarter. Shellback Capital LP now owns 513,956 shares of the basic materials company’s stock valued at $41,368,000 after buying an additional 321,456 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Stock Performance

Shares of NYSE DD opened at $83.88 on Thursday. The company has a quick ratio of 1.49, a current ratio of 2.28 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average price is $84.71 and its 200-day moving average price is $81.84. DuPont de Nemours, Inc. has a 52-week low of $61.14 and a 52-week high of $90.06. The company has a market cap of $35.06 billion, a PE ratio of 44.15, a PEG ratio of 2.02 and a beta of 1.35.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Tuesday, November 5th. The basic materials company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.15. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.20 billion. DuPont de Nemours had a net margin of 6.35% and a return on equity of 6.64%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 EPS. As a group, analysts anticipate that DuPont de Nemours, Inc. will post 3.91 EPS for the current year.

DuPont de Nemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, November 29th. DuPont de Nemours’s payout ratio is currently 80.00%.

Analyst Ratings Changes

Several brokerages recently issued reports on DD. Barclays increased their price target on shares of DuPont de Nemours from $84.00 to $85.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Morgan Stanley raised their target price on shares of DuPont de Nemours from $88.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Wells Fargo & Company boosted their price target on DuPont de Nemours from $105.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada increased their target price on DuPont de Nemours from $102.00 to $104.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, DuPont de Nemours presently has an average rating of “Moderate Buy” and an average price target of $95.42.

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.