Franklin Resources Inc. Acquires 483,722 Shares of DuPont de Nemours, Inc. (NYSE:DD)

Franklin Resources Inc. grew its holdings in DuPont de Nemours, Inc. (NYSE:DD) by 7.5% in the 4th quarter, Holdings Channel reports. The fund owned 6,894,207 shares of the basic materials company’s stock after purchasing an additional 483,722 shares during the quarter. Franklin Resources Inc.’s holdings in DuPont de Nemours were worth $525,683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of DD. Clearbridge Investments LLC grew its position in DuPont de Nemours by 30.8% during the fourth quarter. Clearbridge Investments LLC now owns 33,556 shares of the basic materials company’s stock worth $2,559,000 after buying an additional 7,910 shares in the last quarter. United Bank lifted its position in shares of DuPont de Nemours by 14.4% in the 4th quarter. United Bank now owns 12,604 shares of the basic materials company’s stock worth $961,000 after acquiring an additional 1,589 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of DuPont de Nemours by 97.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 24,306 shares of the basic materials company’s stock worth $1,810,000 after purchasing an additional 11,980 shares in the last quarter. RWA Wealth Partners LLC increased its position in shares of DuPont de Nemours by 7.6% during the fourth quarter. RWA Wealth Partners LLC now owns 4,199 shares of the basic materials company’s stock valued at $320,000 after purchasing an additional 295 shares during the period. Finally, Schroder Investment Management Group raised its stake in shares of DuPont de Nemours by 194.7% in 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 in the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DD. JPMorgan Chase & Co. decreased their price target on shares of DuPont de Nemours from $104.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. UBS Group lifted their target price on shares of DuPont de Nemours from $102.00 to $103.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Barclays raised shares of 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 report on Thursday, February 13th. Wolfe Research raised DuPont de Nemours from a “peer perform” rating to an “outperform” rating and set a $91.00 price objective on the stock in a report on Friday, January 17th. Finally, Citigroup upped their price objective on DuPont de Nemours from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, DuPont de Nemours currently has an average rating of “Moderate Buy” and an average price target of $99.17.

DuPont de Nemours Stock Up 0.9 %

Shares of DD opened at $74.72 on Tuesday. The company has a market capitalization of $31.24 billion, a P/E ratio of 44.74, a PEG ratio of 2.15 and a beta of 1.29. DuPont de Nemours, Inc. has a one year low of $72.38 and a one year high of $90.06. The business’s 50 day simple moving average is $78.40 and its 200-day simple moving average is $80.71. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.33 and a quick ratio of 0.88.

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, topping 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, sell-side analysts predict that DuPont de Nemours, Inc. will post 4.38 EPS for the current fiscal year.

DuPont de Nemours Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.19%. This is a positive change from DuPont de Nemours’s previous quarterly dividend of $0.38. DuPont de Nemours’s dividend payout ratio is currently 98.20%.

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.