Allstate Corp Makes New Investment in DuPont de Nemours, Inc. (NYSE:DD)

Allstate Corp acquired a new stake in shares of DuPont de Nemours, Inc. (NYSE:DD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,555 shares of the basic materials company's stock, valued at approximately $957,000.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in DuPont de Nemours by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 46,596,215 shares of the basic materials company's stock valued at $3,552,961,000 after purchasing an additional 353,010 shares during the last quarter. State Street Corp increased its holdings in DuPont de Nemours by 2.4% in the 3rd quarter. State Street Corp now owns 16,983,109 shares of the basic materials company's stock valued at $1,513,365,000 after acquiring an additional 399,728 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of DuPont de Nemours by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 9,952,115 shares of the basic materials company's stock worth $883,821,000 after acquiring an additional 100,198 shares in the last quarter. Franklin Resources Inc. raised its position in shares of DuPont de Nemours by 9.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,410,485 shares of the basic materials company's stock valued at $556,751,000 after buying an additional 570,703 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in DuPont de Nemours by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,868,586 shares of the basic materials company's stock valued at $218,730,000 after acquiring an additional 91,108 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company's stock.

Remove Ads

DuPont de Nemours Stock Down 12.1 %

Shares of NYSE:DD traded down $8.20 during trading on Friday, hitting $59.58. The company's stock had a trading volume of 8,329,700 shares, compared to its average volume of 2,263,526. The company has a market capitalization of $24.91 billion, a PE ratio of 35.54, a PEG ratio of 2.15 and a beta of 1.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 1.33. The stock's 50-day moving average price is $78.07 and its two-hundred day moving average price is $80.54. DuPont de Nemours, Inc. has a fifty-two week low of $56.21 and a fifty-two week high of $90.06.

DuPont de Nemours (NYSE:DD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.15. DuPont de Nemours had a net margin of 5.47% and a return on equity of 7.12%. As a group, sell-side analysts expect that DuPont de Nemours, Inc. will post 4.38 EPS for the current year.

DuPont de Nemours Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.41 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.75%. This is a positive change from DuPont de Nemours's previous quarterly dividend of $0.38. DuPont de Nemours's dividend payout ratio is presently 98.20%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group boosted their target price on shares of DuPont de Nemours from $102.00 to $103.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price target on shares of DuPont de Nemours from $104.00 to $101.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. Wolfe Research raised DuPont de Nemours from a "peer perform" rating to an "outperform" rating and set a $91.00 target price on the stock in a research report on Friday, January 17th. BMO Capital Markets raised their target price on DuPont de Nemours from $105.00 to $112.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Finally, StockNews.com downgraded DuPont de Nemours from a "buy" rating to a "hold" rating in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $99.17.

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.