DuPont de Nemours, Inc. $DD Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC raised its position in shares of DuPont de Nemours, Inc. (NYSE:DD) by 50.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,072 shares of the basic materials company’s stock after purchasing an additional 9,442 shares during the quarter. Intech Investment Management LLC’s holdings in DuPont de Nemours were worth $1,925,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Princeton Global Asset Management LLC grew its position in DuPont de Nemours by 64.4% during the 2nd quarter. Princeton Global Asset Management LLC now owns 365 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 143 shares in the last quarter. WPG Advisers LLC bought a new position in shares of DuPont de Nemours in the first quarter worth about $35,000. Ransom Advisory Ltd acquired a new position in shares of DuPont de Nemours during the 1st quarter worth about $40,000. Quaker Wealth Management LLC grew its stake in shares of DuPont de Nemours by 200.7% in the second quarter. Quaker Wealth Management LLC now owns 594 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 1,184 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of DuPont de Nemours by 36.1% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 599 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 159 shares during the period. 73.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on DD. Wolfe Research decreased their price objective on DuPont de Nemours from $87.00 to $39.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 4th. UBS Group raised their price target on DuPont de Nemours to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Zacks Research cut shares of DuPont de Nemours from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Morgan Stanley reduced their target price on shares of DuPont de Nemours from $80.00 to $44.00 in a research note on Monday, November 10th. Finally, Citigroup increased their price objective on DuPont de Nemours from $38.90 to $47.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.62.

DuPont de Nemours Trading Up 3.8%

Shares of DD stock opened at $38.52 on Friday. The stock’s fifty day simple moving average is $34.73 and its 200 day simple moving average is $31.67. DuPont de Nemours, Inc. has a twelve month low of $22.50 and a twelve month high of $41.23. The firm has a market capitalization of $16.14 billion, a P/E ratio of -81.96, a P/E/G ratio of 2.49 and a beta of 1.11. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.23.

DuPont de Nemours (NYSE:DD) last posted its earnings results on Monday, July 11th. The basic materials company reported $0.29 EPS for the quarter. DuPont de Nemours had a negative net margin of 1.54% and a positive return on equity of 7.85%. The business had revenue of $3.02 billion for the quarter. As a group, sell-side analysts predict that DuPont de Nemours, Inc. will post 4.38 EPS for the current fiscal year.

DuPont de Nemours Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. DuPont de Nemours’s payout ratio is currently -43.48%.

DuPont de Nemours announced that its Board of Directors has approved a stock buyback plan on Thursday, November 6th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to purchase up to 12.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, SVP Steven P. Larrabee sold 103,267 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $32.29, for a total transaction of $3,334,357.49. Following the completion of the transaction, the senior vice president directly owned 92,218 shares of the company’s stock, valued at $2,977,599.61. This trade represents a 52.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 177,357 shares of company stock valued at $5,714,857 in the last three months. Corporate insiders own 0.61% of the company’s stock.

DuPont de Nemours Company 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.