According to a recent Form 13F filing with the Securities and Exchange Commission, Contravisory Investment Management Inc. has acquired a new position in shares of DuPont de Nemours, Inc. during the second quarter of this year. This institutional investor now holds 2,312 shares of the basic materials company’s stock, valued at approximately $165,000.
DuPont de Nemours (NYSE:DD) recently released its quarterly earnings data on August 2nd. The company reported earnings per share (EPS) of $0.85 for the quarter, surpassing analysts’ consensus estimates by $0.02. Despite a challenging business environment, DuPont de Nemours managed to achieve a net margin of 37.09% and a return on equity of 6.11%. The firm’s revenue for the quarter stood at $3.09 billion, slightly exceeding analysts’ expectations of $3.03 billion.
However, it is worth noting that the company experienced a 6.9% decline in revenue compared to the same quarter last year. During the corresponding period in the previous fiscal year, DuPont de Nemours posted earnings per share of $0.88.
Looking ahead, equities analysts anticipate that DuPont de Nemours will post an EPS of 3.45 for the current fiscal year.
The acquisition of shares by Contravisory Investment Management Inc., along with DuPont de Nemours’ recent positive earnings report, may indicate an increasing interest from investors in this leading basic materials company.
It is important for potential investors to closely monitor DuPont de Nemours and its performance in order to make informed decisions regarding investment opportunities.
Ultimately, as we move forward into September 2023, financial markets continue to evolve and present various possibilities for investors seeking long-term growth potentials within different sectors such as basic materials.
Please note that all information provided above is accurate as of September 19th, 2023, and is subject to change as new data becomes available. Investors are advised to conduct their own research and consult with financial professionals before making any investment decisions.
Enterprise Products Partners L.P.
EPD
Buy
Updated on: 29/09/2023
Financial Health
Healthy
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
DuPont de Nemours, Inc. Attracts Major Investors and Analysts’ Attention with Positive Outlook
On September 19, 2023, DuPont de Nemours, Inc. (DD) attracted the attention of several large investors who either increased or decreased their stakes in the company. Moneta Group Investment Advisors LLC raised its position in shares of DuPont de Nemours by an astonishing 114,597.6% in the fourth quarter. They now own a whopping 11,970,989 shares of the basic materials company’s stock, valued at approximately $821,569,000. Similarly, Putnam Investments LLC also significantly increased its stake by 1,871.7% during the first quarter and now holds 5,124,160 shares valued at $367,761,000.
Notably, Empower Advisory Group LLC and Canoe Financial LP entered the picture during the first quarter as well with new stakes worth around $89,142,000 and $70,236,000 respectively. Moreover, Norges Bank purchased a new stake valued at approximately $65,712,000 during the fourth quarter of last year. Overall institutional investors and hedge funds currently own about 76.25% of DuPont de Nemours’ stock.
Various brokerages have recently provided their insights on DD’s performance as well. Morgan Stanley reiterated an “equal weight” rating and set a price target of $73.00 for shares of DuPont de Nemours in their research report released on August 3rd. StockNews.com initiated coverage on DD with a “hold” rating on August 17th.
Royal Bank of Canada (RBC) also expressed optimism about DuPont de Nemours’ potential as they raised their target price from $81.00 to $90.00 in their research report published on August 3rd while giving it an “outperform” rating.
Similarly agreeing with RBC’s positive outlook but maintaining an “equal weight” rating is Barclays who raised their target price from $70.00 to $77.00 in their research report also published on August 3rd.
On the other hand, Citigroup provided a “neutral” rating for DD’s stock, raising their target price from $72.00 to $75.00 in their report released on July 19th.
Following these ratings and based on data from Bloomberg, DuPont de Nemours currently has an average rating of “Moderate Buy” and an average target price of $79.50.
Moreover, there have been notable insider transactions involving the company’s stock. SVP Raj Ratnakar sold 15,838 shares of DuPont de Nemours stock at an average price of $74.56, amounting to a total transaction value of $1,180,881.28 on August 25th. Following this sale, the senior vice president now holds 31,720 shares valued at $2,365,043.20.
Similarly, insider Michael G. Goss sold 7,919 shares of DD’s stock at an average price of $77.36 for a total value of $612,613.84 on August 4th. As a result of this transaction, the insider now directly owns 13,363 shares valued at approximately $1,033,761.68.
In total over the past three months alone, insiders have sold a significant number of DD shares equating to approximately $5,713,502 in value – equivalent to around 0.50% ownership in the company.
As for its current market status as of September 19th opening day trading session , DuPont de Nemours’ stock opened at $74.79 per share.The company has exhibited a strong financial position with a debt-to-equity ratioof only 0.29 confirmingthe stabilityofits capital structure.The current ratio stands at2.
98 suggestingthatthecompanyiswell-positionedtomeetitscurrentliabilities.Thequickratioof2.35 further influencespositivefinancialefficiency.
DuPont de Nemours isbelieved to have arelatively stableruninrecenttimes
witha fifty-day moving average price of $75.58 which corresponds to a positive trend evident in the company’s two-hundred day moving average price of $71.33.
Investors appear buoyant about DuPont de Nemours’ prospects and have driven the stock’s one-yearhighup to an impressive $78.74, while holdingthecompany withaglobal market capitalization ofapproximately$34.33billion.
In conclusion, DuPont de Nemours has caught the attention of major investors who have significantly increased their stakes in the company, resulting in an outstanding ownership by institutional investors and hedge funds. Despite some mixed opinions from analysts, there seems to be an overall positive sentiment toward DD’s future performance as indicated by the average rating and target price estimations provided by Bloomberg. Furthermore, recent insider transactions add another layer to this complex puzzle. As for its market performance, DuPont de Nemours has demonstrated stability and robust financial indicators as reflected in its solid debt-to-equity ratio and current/quick ratios. This all bodes well for the
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