Allianz SE Buys Shares of 37,565 DuPont de Nemours, Inc. (NYSE:DD)

Allianz SE purchased a new stake in DuPont de Nemours, Inc. (NYSE:DD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 37,565 shares of the basic materials company’s stock, valued at approximately $2,853,000.

Several other large investors have also modified their holdings of the business. Norges Bank purchased a new stake in DuPont de Nemours during the 4th quarter worth about $146,605,000. Prudential Financial Inc. grew its holdings in shares of DuPont de Nemours by 337.5% during the fourth quarter. Prudential Financial Inc. now owns 1,278,583 shares of the basic materials company’s stock worth $97,492,000 after buying an additional 986,366 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of 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 valued at $80,707,000 after buying an additional 859,333 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of DuPont de Nemours during the fourth quarter valued at approximately $50,063,000. Finally, Franklin Resources Inc. boosted its position in DuPont de Nemours by 9.8% during the third quarter. Franklin Resources Inc. now owns 6,410,485 shares of the basic materials company’s stock worth $556,751,000 after acquiring an additional 570,703 shares during the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

DuPont de Nemours Stock Performance

NYSE:DD opened at $74.00 on Friday. DuPont de Nemours, Inc. has a twelve month low of $72.38 and a twelve month high of $90.06. The firm has a market capitalization of $30.94 billion, a price-to-earnings ratio of 44.31, a PEG ratio of 2.15 and a beta of 1.29. 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 firm’s fifty day simple moving average is $78.45 and its 200 day simple moving average is $80.75.

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

DuPont de Nemours Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.41 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This is an increase from DuPont de Nemours’s previous quarterly dividend of $0.38. This represents a $1.64 annualized dividend and a dividend yield of 2.22%. DuPont de Nemours’s dividend payout ratio is 98.20%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DD. Barclays raised DuPont de Nemours from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $85.00 to $89.00 in a research note on Thursday, February 13th. Wells Fargo & Company reduced their target price 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. StockNews.com cut DuPont de Nemours from a “buy” rating to a “hold” rating in a report on Friday, February 28th. JPMorgan Chase & Co. cut their price objective 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. Finally, Citigroup boosted their target price on shares of DuPont de Nemours from $88.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.