5 Dividend Stocks to Buy According to Billionaire Dan Loeb’s Third Point

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

Number of Hedge Fund Holders: 56
Dividend Yield as of March 4: 1.72%
Third Point’s Stake Value: $267,431,000

DuPont de Nemours, Inc. (NYSE:DD) is an American company that provides tech-based solutions to its consumers. On February 8, the company announced a 10% increase in its quarterly dividend at $0.33 per share. The stock’s dividend yield, as recorded on March 4, stood at 1.72%. Moreover, DuPont de Nemours, Inc. (NYSE:DD) paid over $0.3 billion in dividends to shareholders through 2021.

Appreciating the company’s balanced execution, in February, Mizuho raised its price target on DuPont de Nemours, Inc. (NYSE:DD) to $101, with a Buy rating on the shares. In Q4 2021, Third Point increased its stake in DuPont de Nemours, Inc. (NYSE:DD) by 12% and held shares worth over $267.4 million. The company accounted for 1.86% of Dan Loeb’s portfolio.

By the end of Q4 2021, 56 hedge funds tracked by Insider Monkey held stakes in DuPont de Nemours, Inc. (NYSE:DD), valued at roughly $2 billion. In comparison, 51 hedge funds held stakes in the company in the preceding quarter, worth $1.5 billion. 40 North Management held the largest position in DuPont de Nemours, Inc. (NYSE:DD) in Q4, with stakes worth $454.3 million.

Rhizome Partners mentioned DuPont de Nemours, Inc. (NYSE:DD) in its Q1 2021 investor letter. Here is what the firm has to say:

“We have written extensively about the anticipated DuPont’s Reverse Morris Trust merger with International Flavors and Fragrances (IFF) in January of 2021. During the quarter, DuPont shares traded up significantly in anticipation of the deal. We tendered about 40% of our DuPont shares for IFF and received about half of the allocation due to pro-ration. Investors are finally starting to appreciate DuPont’s effort to cut costs, streamline operations, and spin off companies into pure-play companies that trade at higher multiples. We are still getting used to the higher multiples that investors will pay for larger market cap and pure play companies such as DuPont.”