State of Michigan Retirement System Decreases Stock Holdings in DuPont de Nemours, Inc. (NYSE:DD)

State of Michigan Retirement System cut its stake in DuPont de Nemours, Inc. (NYSE:DD) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,394 shares of the basic materials company’s stock after selling 300 shares during the period. State of Michigan Retirement System’s holdings in DuPont de Nemours were worth $8,646,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in DD. Steward Partners Investment Advisory LLC increased its stake in DuPont de Nemours by 4.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 22,352 shares of the basic materials company’s stock valued at $1,704,000 after purchasing an additional 977 shares in the last quarter. Grandfield & Dodd LLC grew its holdings in DuPont de Nemours by 72.0% in the fourth quarter. Grandfield & Dodd LLC now owns 7,538 shares of the basic materials company’s stock valued at $575,000 after purchasing an additional 3,155 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in DuPont de Nemours in the fourth quarter valued at $56,000. SBI Securities Co. Ltd. purchased a new position in shares of DuPont de Nemours in the fourth quarter valued at $110,000. Finally, Jones Financial Companies Lllp raised its stake in shares of DuPont de Nemours by 54.9% during the 4th quarter. Jones Financial Companies Lllp now owns 53,932 shares of the basic materials company’s stock worth $4,112,000 after buying an additional 19,112 shares during the last quarter. 73.96% of the stock is owned by hedge funds and other institutional investors.

DuPont de Nemours Stock Performance

NYSE DD opened at $79.57 on Thursday. The business’s 50-day moving average price is $78.09 and its 200 day moving average price is $81.32. The company has a current ratio of 1.33, a quick ratio of 0.88 and a debt-to-equity ratio of 0.22. DuPont de Nemours, Inc. has a twelve month low of $69.23 and a twelve month high of $90.06. The company has a market capitalization of $33.26 billion, a PE ratio of 47.65, a price-to-earnings-growth ratio of 2.15 and a beta of 1.29.

DuPont de Nemours (NYSE:DD) last posted its quarterly earnings data on Tuesday, February 11th. The basic materials company reported $1.13 EPS for the quarter, beating 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%. On average, research analysts predict that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current year.

DuPont de Nemours Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, March 3rd. This is a boost from DuPont de Nemours’s previous quarterly dividend of $0.38. This represents a $1.64 annualized dividend and a dividend yield of 2.06%. DuPont de Nemours’s payout ratio is currently 98.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DD shares. Wells Fargo & Company lowered their price objective on shares of DuPont de Nemours from $107.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. Barclays upgraded shares of DuPont de Nemours from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $85.00 to $89.00 in a research report on Thursday, February 13th. UBS Group lifted their price objective on DuPont de Nemours from $102.00 to $103.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Royal Bank of Canada lowered their target price on DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. cut their price target on DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $99.17.

About DuPont de Nemours

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.