Bank of Nova Scotia Cuts Stake in DuPont de Nemours, Inc. (NYSE:DD)

Bank of Nova Scotia trimmed its position in DuPont de Nemours, Inc. (NYSE:DD - Free Report) by 6.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 114,761 shares of the basic materials company's stock after selling 8,325 shares during the period. Bank of Nova Scotia's holdings in DuPont de Nemours were worth $8,751,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank bought a new stake in DuPont de Nemours in the fourth quarter worth $146,605,000. Prudential Financial Inc. boosted its position in DuPont de Nemours by 337.5% in the 4th quarter. Prudential Financial Inc. now owns 1,278,583 shares of the basic materials company's stock valued at $97,492,000 after buying an additional 986,366 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in DuPont de Nemours by 431.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,058,446 shares of the basic materials company's stock worth $80,707,000 after acquiring an additional 859,333 shares during the period. Schroder Investment Management Group grew its holdings in DuPont de Nemours by 194.7% during the fourth quarter. Schroder Investment Management Group now owns 1,145,108 shares of the basic materials company's stock valued at $86,971,000 after purchasing an additional 756,604 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in DuPont de Nemours during the 4th quarter worth approximately $50,063,000. Institutional investors and hedge funds own 73.96% of the company's stock.

DuPont de Nemours Price Performance

DuPont de Nemours stock traded up $1.69 during trading on Thursday, reaching $60.94. The company had a trading volume of 830,243 shares, compared to its average volume of 2,368,995. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 1.33. DuPont de Nemours, Inc. has a 1-year low of $53.77 and a 1-year high of $90.06. The firm has a market capitalization of $25.50 billion, a PE ratio of 36.48, a price-to-earnings-growth ratio of 2.15 and a beta of 1.25. The firm's 50-day simple moving average is $74.15 and its 200 day simple moving average is $78.59.

DuPont de Nemours (NYSE:DD - Get Free Report) last announced 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, equities research analysts anticipate that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current fiscal year.

DuPont de Nemours Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.41 per share. This is a positive change from DuPont de Nemours's previous quarterly dividend of $0.38. This represents a $1.64 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Monday, March 3rd. DuPont de Nemours's payout ratio is presently 98.20%.

Wall Street Analysts Forecast Growth

DD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on DuPont de Nemours from $101.00 to $76.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Citigroup reduced their price objective on DuPont de Nemours from $95.00 to $74.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their target price on DuPont de Nemours from $105.00 to $81.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Bank of America upgraded DuPont de Nemours from an "underperform" rating to a "neutral" rating and lowered their price objective for the stock from $80.00 to $75.00 in a research report on Tuesday. Finally, Mizuho cut their target price on DuPont de Nemours from $100.00 to $80.00 and set an "outperform" rating on the stock in a research report on Tuesday. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, DuPont de Nemours has a consensus rating of "Moderate Buy" and an average price target of $87.71.

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.