Traynor Capital Management Inc. Invests $229,000 in DuPont de Nemours, Inc. (NYSE:DD)

Traynor Capital Management Inc. purchased a new position in shares of DuPont de Nemours, Inc. (NYSE:DD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,845 shares of the basic materials company’s stock, valued at approximately $229,000.

Several other hedge funds also recently made changes to their positions in DD. Vanguard Group Inc. boosted its holdings in shares of DuPont de Nemours by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 48,045,648 shares of the basic materials company’s stock valued at $3,696,152,000 after buying an additional 3,168,740 shares during the last quarter. Putnam Investments LLC boosted its holdings in shares of DuPont de Nemours by 3.2% in the 4th quarter. Putnam Investments LLC now owns 5,196,730 shares of the basic materials company’s stock valued at $399,784,000 after buying an additional 159,438 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of DuPont de Nemours by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,602,213 shares of the basic materials company’s stock valued at $200,192,000 after buying an additional 101,203 shares during the last quarter. Mondrian Investment Partners LTD boosted its holdings in shares of DuPont de Nemours by 9.5% in the 1st quarter. Mondrian Investment Partners LTD now owns 1,799,860 shares of the basic materials company’s stock valued at $137,995,000 after buying an additional 156,339 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in DuPont de Nemours by 34.0% during the 1st 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 purchasing an additional 391,400 shares during the last quarter. 73.96% of the stock is owned by institutional investors.

DuPont de Nemours Price Performance

DuPont de Nemours stock traded up $0.81 during midday trading on Friday, reaching $81.10. The company’s stock had a trading volume of 1,325,008 shares, compared to its average volume of 2,678,847. DuPont de Nemours, Inc. has a 52 week low of $61.14 and a 52 week high of $85.12. The company has a current ratio of 2.21, a quick ratio of 1.61 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $79.94 and a 200-day moving average price of $76.67. The stock has a market cap of $33.91 billion, a PE ratio of 98.90, a price-to-earnings-growth ratio of 2.54 and a beta of 1.34.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.12. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, sell-side analysts predict that DuPont de Nemours, Inc. will post 3.69 EPS for the current year.

DuPont de Nemours Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, August 30th. DuPont de Nemours’s payout ratio is 185.37%.

Analysts Set New Price Targets

Several brokerages have issued reports on DD. UBS Group raised their price target on DuPont de Nemours from $93.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. JPMorgan Chase & Co. raised their price target on DuPont de Nemours from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft raised their price target on DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada raised their price target on DuPont de Nemours from $87.00 to $102.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, BMO Capital Markets raised DuPont de Nemours from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $83.00 to $96.00 in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

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.