DuPont de Nemours, Inc. $DD Shares Sold by Drummond Knight Asset Management Pty Ltd

Drummond Knight Asset Management Pty Ltd lessened its holdings in DuPont de Nemours, Inc. (NYSE:DD) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 650,566 shares of the basic materials company’s stock after selling 53,923 shares during the quarter. DuPont de Nemours accounts for approximately 15.5% of Drummond Knight Asset Management Pty Ltd’s investment portfolio, making the stock its biggest position. Drummond Knight Asset Management Pty Ltd’s holdings in DuPont de Nemours were worth $50,679,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC raised its stake in DuPont de Nemours by 64.4% in 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 during the first quarter worth approximately $35,000. Cary Street Partners Investment Advisory LLC raised its position in shares of DuPont de Nemours by 67.5% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 541 shares of the basic materials company’s stock valued at $37,000 after buying an additional 218 shares in the last quarter. Ransom Advisory Ltd bought a new stake in shares of DuPont de Nemours in the first quarter valued at approximately $40,000. Finally, Quaker Wealth Management LLC boosted 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 valued at $41,000 after buying an additional 1,184 shares during the period. 73.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wolfe Research dropped their price objective on DuPont de Nemours from $87.00 to $39.00 and set an “outperform” rating for the company in a report on Tuesday, November 4th. JPMorgan Chase & Co. decreased their price target on DuPont de Nemours from $104.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. 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. KeyCorp reduced their price objective on shares of DuPont de Nemours from $93.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Finally, Mizuho upped their price target on shares of DuPont de Nemours from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.69.

DuPont de Nemours Stock Performance

NYSE DD opened at $41.02 on Wednesday. The firm’s fifty day moving average price is $38.16 and its two-hundred day moving average price is $33.55. The stock has a market cap of $17.18 billion, a PE ratio of -22.29, a PEG ratio of 2.38 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, Inc. has a fifty-two week low of $22.50 and a fifty-two week high of $41.85.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings results on Monday, July 11th. The basic materials company reported $0.29 EPS for the quarter. DuPont de Nemours had a positive return on equity of 7.81% and a negative net margin of 6.17%.The company had revenue of $3.02 billion during the quarter. On average, equities analysts expect that DuPont de Nemours, Inc. will post 4.38 EPS for the current fiscal year.

DuPont de Nemours Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, November 28th. DuPont de Nemours’s dividend payout ratio (DPR) is presently -43.48%.

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

Insider Activity

In other DuPont de Nemours news, CEO Lori Koch sold 9,011 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $39.46, for a total transaction of $355,574.06. Following the sale, the chief executive officer directly owned 288,326 shares of the company’s stock, valued at $11,377,343.96. The trade was a 3.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Erik T. Hoover sold 6,005 shares of the company’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 transaction of $238,938.95. Following the completion of the transaction, the senior vice president owned 112,101 shares of the company’s stock, valued at approximately $4,460,498.79. This trade represents a 5.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.61% of the company’s stock.

About DuPont de Nemours

DuPont de Nemours (NYSE: DD) is a global science and engineering company that develops and supplies specialty materials, chemicals and industrial biosciences for a wide range of markets. Headquartered in Wilmington, Delaware, the company traces its origins to 1802 and has evolved through more than two centuries of innovation. In recent history DuPont participated in a major combination with Dow Chemical and subsequent reorganization that refocused the company on differentiated, specialty businesses built around science-based solutions.

DuPont’s operations center on advanced materials and technologies used by manufacturers and OEMs in industries such as transportation, electronics, construction, industrial manufacturing and worker safety.