Norges Bank Makes New $146.61 Million Investment in DuPont de Nemours, Inc. (NYSE:DD)

Norges Bank purchased a new stake in shares of DuPont de Nemours, Inc. (NYSE:DD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,922,683 shares of the basic materials company’s stock, valued at approximately $146,605,000. Norges Bank owned about 0.46% of DuPont de Nemours at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DD. Prudential Financial Inc. boosted its position in DuPont de Nemours by 337.5% during the 4th quarter. Prudential Financial Inc. now owns 1,278,583 shares of the basic materials company’s stock worth $97,492,000 after acquiring an additional 986,366 shares during the period. Assenagon Asset Management S.A. lifted its holdings in DuPont de Nemours by 431.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,058,446 shares of the basic materials company’s stock worth $80,707,000 after purchasing an additional 859,333 shares during the period. Raymond James Financial Inc. bought a new position in DuPont de Nemours in the 4th quarter valued at about $50,063,000. Franklin Resources Inc. increased its stake in 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 during the period. Finally, Teacher Retirement System of Texas raised its position in shares of DuPont de Nemours by 601.8% during the 4th quarter. Teacher Retirement System of Texas now owns 647,076 shares of the basic materials company’s stock worth $49,340,000 after buying an additional 554,880 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

DuPont de Nemours Stock Performance

Shares of DD stock opened at $74.72 on Tuesday. The company has a market capitalization of $31.24 billion, a price-to-earnings ratio of 44.74, a P/E/G ratio of 2.15 and a beta of 1.29. DuPont de Nemours, Inc. has a 1-year low of $72.38 and a 1-year high of $90.06. The company has a current ratio of 1.33, a quick ratio of 0.88 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $78.40 and its 200-day simple moving average is $80.71.

DuPont de Nemours (NYSE:DD) last released its earnings results on Tuesday, February 11th. The basic materials company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.15. DuPont de Nemours had a return on equity of 7.12% and a net margin of 5.47%. On average, sell-side analysts predict 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 $0.41 dividend. This is an increase from DuPont de Nemours’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, March 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.19%. DuPont de Nemours’s dividend payout ratio is presently 98.20%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. UBS Group raised their price objective 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. Wells Fargo & Company lowered their price target on DuPont de Nemours from $107.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 12th. Royal Bank of Canada cut their price objective on DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating for the company in a report on Monday, February 10th. BMO Capital Markets raised their price objective on shares of DuPont de Nemours from $105.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, StockNews.com lowered shares of DuPont de Nemours from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Three 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 presently 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.