Eastern Bank Purchases Shares of 6,346 DuPont de Nemours, Inc. (NYSE:DD)

Eastern Bank acquired a new position in shares of DuPont de Nemours, Inc. (NYSE:DD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,346 shares of the basic materials company’s stock, valued at approximately $565,000.

Other large investors also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. raised its stake in DuPont de Nemours by 403.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,421,685 shares of the basic materials company’s stock worth $109,001,000 after buying an additional 1,139,156 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in shares of DuPont de Nemours during the second quarter worth approximately $83,540,000. Renaissance Technologies LLC bought a new position in shares of DuPont de Nemours in the 2nd quarter worth $67,665,000. Ceredex Value Advisors LLC grew its position in DuPont de Nemours by 95.0% in the 2nd quarter. Ceredex Value Advisors LLC now owns 1,165,164 shares of the basic materials company’s stock valued at $93,784,000 after purchasing an additional 567,732 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in DuPont de Nemours by 34.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,542,045 shares of the basic materials company’s stock valued at $118,229,000 after purchasing an additional 391,400 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on DD shares. Morgan Stanley raised their price objective 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. Citigroup dropped their price target on shares of DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on DuPont de Nemours from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays lowered DuPont de Nemours from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $88.00 to $84.00 in a research report on Monday, October 7th. Finally, Royal Bank of Canada increased their price target on shares of DuPont de Nemours from $87.00 to $102.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Two equities research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $94.83.

DuPont de Nemours Stock Performance

Shares of DD stock opened at $84.39 on Thursday. The firm’s 50 day moving average is $83.60 and its 200 day moving average is $80.47. The stock has a market capitalization of $35.28 billion, a P/E ratio of 102.91, a PEG ratio of 2.26 and a beta of 1.34. DuPont de Nemours, Inc. has a 12 month low of $61.14 and a 12 month high of $90.06. The company has a current ratio of 2.21, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30.

DuPont de Nemours (NYSE:DD) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.12. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.05 billion. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 earnings per share. On average, sell-side analysts anticipate that DuPont de Nemours, Inc. will post 3.76 earnings per share for the current year.

DuPont de Nemours Announces Dividend

The business 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 1.80%. The ex-dividend date of this dividend is Friday, November 29th. DuPont de Nemours’s dividend payout ratio is presently 185.37%.

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.