DD - Why You Should Retain DuPont Stock in Your Portfolio | Benzinga
DuPont de Nemours, Inc. (NYSE: DD) is expected to benefit from its innovation-driven investment, productivity actions and the acquisition of the Spectrum Plastics Group. However, it faces headwinds from certain challenges including weaker demand in specific businesses.
The company's shares are up 13% over a year against a 10.8% decline of its industry.
Image Source: Zacks Investment Research
Let's find out why this Zacks Rank #3 (Hold) stock is worth retaining at the moment.
DD Gains on Productivity, Innovation & Spectrum Acquisition
DuPont remains focused on driving growth through innovation and new product development. Its innovation-driven investment is focused on several high-growth areas. DD remains committed to driving returns from its R&D investment.
The company, in August 2023, completed the buyout of leading manufacturer of specialty medical devices and components, Spectrum Plastics Group from AEA Investors for $1.75 billion. The acquisition strengthens DuPont's existing position in stable and fast-growing healthcare end markets. It is also in sync with its focus on high-growth, customer-driven innovation for the healthcare market.
Moreover, DuPont is benefiting from cost synergy savings and productivity improvement actions. The benefits of its structural cost actions are expected to be realized in 2024. DD also continues ...