First City Capital Management Inc. Buys Shares of 2,460 DuPont de Nemours, Inc. (NYSE:DD)

First City Capital Management Inc. acquired a new position in DuPont de Nemours, Inc. (NYSE:DD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,460 shares of the basic materials company’s stock, valued at approximately $219,000.

Several other hedge funds also recently modified their holdings of DD. Legal & General Group Plc lifted its holdings in DuPont de Nemours by 0.7% in the 2nd quarter. Legal & General Group Plc now owns 3,863,144 shares of the basic materials company’s stock worth $310,945,000 after purchasing an additional 25,857 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in DuPont de Nemours by 34.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,542,045 shares of the basic materials company’s stock valued at $118,229,000 after acquiring an additional 391,400 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of DuPont de Nemours by 403.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,421,685 shares of the basic materials company’s stock valued at $109,001,000 after purchasing an additional 1,139,156 shares during the last quarter. Swiss National Bank lifted its position in shares of DuPont de Nemours by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,240,973 shares of the basic materials company’s stock worth $110,583,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its holdings in DuPont de Nemours by 3.9% in the 3rd quarter. Ceredex Value Advisors LLC now owns 1,210,472 shares of the basic materials company’s stock valued at $107,865,000 after buying an additional 45,308 shares during the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on DD shares. Barclays upped their price target on DuPont de Nemours from $84.00 to $85.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of DuPont de Nemours from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley lifted their target price on DuPont de Nemours from $88.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Wells Fargo & Company upped their price target on DuPont de Nemours from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada raised their price objective on DuPont de Nemours from $102.00 to $104.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.42.

DuPont de Nemours Price Performance

Shares of DD stock opened at $81.88 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.49 and a current ratio of 2.28. DuPont de Nemours, Inc. has a 52-week low of $61.14 and a 52-week high of $90.06. The firm’s 50 day moving average price is $84.47 and its two-hundred day moving average price is $81.66. The stock has a market cap of $34.22 billion, a PE ratio of 43.09, a PEG ratio of 1.96 and a beta of 1.35.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.15. DuPont de Nemours had a net margin of 6.35% and a return on equity of 6.64%. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, analysts forecast that DuPont de Nemours, Inc. will post 3.91 EPS for the current year.

DuPont de Nemours Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, November 29th. DuPont de Nemours’s dividend payout ratio is 80.00%.

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.