Erik Hoover Sells 6,005 Shares of DuPont de Nemours (NYSE:DD) Stock

DuPont de Nemours, Inc. (NYSE:DD) SVP Erik Hoover sold 6,005 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $39.79, for a total value of $238,938.95. Following the transaction, the senior vice president owned 112,101 shares of the company’s stock, valued at $4,460,498.79. This represents a 5.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

DuPont de Nemours Trading Down 0.9%

DD stock opened at $39.54 on Wednesday. The firm has a fifty day moving average price of $35.69 and a 200 day moving average price of $32.26. DuPont de Nemours, Inc. has a fifty-two week low of $22.50 and a fifty-two week high of $41.23. The firm has a market cap of $16.56 billion, a PE ratio of -21.49, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.63 and a current ratio of 2.00.

DuPont de Nemours (NYSE:DD) last posted its earnings results on Monday, July 11th. The basic materials company reported $0.29 earnings per share for the quarter. The firm had revenue of $3.02 billion for the quarter. DuPont de Nemours had a negative net margin of 6.17% and a positive return on equity of 7.81%. Sell-side analysts anticipate that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current fiscal year.

DuPont de Nemours declared that its board has approved a stock repurchase program on Thursday, November 6th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the basic materials company to repurchase up to 12.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

DuPont de Nemours Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, November 28th. DuPont de Nemours’s dividend payout ratio is presently -43.48%.

Analyst Ratings Changes

A number of research firms recently weighed in on DD. UBS Group increased their price objective on shares of DuPont de Nemours to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Zacks Research lowered shares of DuPont de Nemours from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Wells Fargo & Company reduced their price target on shares of DuPont de Nemours from $100.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, November 7th. Citigroup upped their target price on shares of DuPont de Nemours from $38.90 to $47.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of DuPont de Nemours from $90.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday, November 25th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.88.

Institutional Trading of DuPont de Nemours

Several hedge funds and other institutional investors have recently bought and sold shares of DD. Obermeyer Wealth Partners lifted its position in DuPont de Nemours by 73.6% during the second quarter. Obermeyer Wealth Partners now owns 25,159 shares of the basic materials company’s stock valued at $1,726,000 after purchasing an additional 10,663 shares during the period. Prospera Financial Services Inc lifted its holdings in shares of DuPont de Nemours by 19.1% in the 2nd quarter. Prospera Financial Services Inc now owns 94,434 shares of the basic materials company’s stock valued at $6,477,000 after buying an additional 15,144 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of DuPont de Nemours by 15.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 756,907 shares of the basic materials company’s stock valued at $56,526,000 after buying an additional 99,667 shares during the period. KBC Group NV grew its holdings in DuPont de Nemours by 10.4% during the second quarter. KBC Group NV now owns 81,254 shares of the basic materials company’s stock worth $5,573,000 after acquiring an additional 7,684 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its position in DuPont de Nemours by 33.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 524,356 shares of the basic materials company’s stock valued at $35,966,000 after acquiring an additional 132,427 shares in the last quarter. Institutional investors own 73.96% of the company’s stock.

About DuPont de Nemours

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.