5 Best Materials Stocks to Buy Now

4. DuPont de Nemours, Inc. (NYSE:DD)

Number of Hedge Fund Holders: 50

DuPont de Nemours, Inc. (NYSE:DD) provides technology-based materials and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. The company operates through three segments: Electronics & Industrial, Mobility & Materials, and Water & Protection. As of August 16, DuPont de Nemours, Inc. (NYSE:DD) has a forward dividend yield of 2.11%.

On August 2, DuPont de Nemours, Inc. (NYSE:DD) announced earnings for the fiscal second quarter of 2022. The company reported earnings per share of $0.88 and outperformed EPS expectations by $0.13. The company generated a revenue of $3.32 billion for the quarter and beat estimates by $66.32 million.

Shortly after the company’s earnings release, Deutsche Bank analyst David Begleiter revised his price target on DuPont de Nemours, Inc. (NYSE:DD) to $70 from $80 and reiterated a Buy rating on the shares. On August 8, Citi analyst P.J. Juvekar raised his price target on DuPont de Nemours, Inc. (NYSE:DD) to $75 from $72 and maintained a Buy rating on the shares.

At the close of Q1 2022, 50 hedge funds were bullish on DuPont de Nemours, Inc. (NYSE:DD) and held stakes worth $1.49 billion in the company. this is compared to 56 positions in the preceding quarter with stakes worth $1.97 billion.

As of June 30, 40 North Management owns 5.88 million shares of DuPont de Nemours, Inc. (NYSE:DD) and is the largest shareholder in the company. The fund’s stakes in the company are valued at $326.81 million.