Amundi Increases Stock Position in DuPont de Nemours, Inc. $DD

Amundi grew its stake in DuPont de Nemours, Inc. (NYSE:DD) by 35.6% during the second quarter, Holdings Channel.com reports. The fund owned 1,923,022 shares of the basic materials company’s stock after acquiring an additional 504,800 shares during the period. Amundi’s holdings in DuPont de Nemours were worth $140,284,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DD. Princeton Global Asset Management LLC raised its position in DuPont de Nemours by 64.4% in the second quarter. Princeton Global Asset Management LLC now owns 365 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 143 shares during the period. WPG Advisers LLC acquired a new stake in shares of DuPont de Nemours in the first quarter valued at $35,000. Ransom Advisory Ltd purchased a new stake in shares of DuPont de Nemours in the 1st quarter valued at $40,000. Quaker Wealth Management LLC lifted its stake in DuPont de Nemours by 200.7% during the 2nd 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 in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its holdings in DuPont de Nemours by 36.1% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 599 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 159 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Insider Buying and Selling

In related news, SVP Steven P. Larrabee sold 103,267 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $32.29, for a total value 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 represents a 52.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lori Koch sold 9,011 shares of the 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 completion of the transaction, the chief executive officer owned 288,326 shares in the company, valued at $11,377,343.96. This represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 118,283 shares of company stock worth $3,928,870 over the last 90 days. 0.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DD has been the topic of a number of recent research reports. Citigroup boosted their price target 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. JPMorgan Chase & Co. cut their target price on shares of DuPont de Nemours from $104.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. 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 report on Tuesday, November 25th. Wells Fargo & Company decreased their price target on shares of DuPont de Nemours from $100.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Finally, UBS Group upped their price objective on DuPont de Nemours to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, DuPont de Nemours currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.88.

DuPont de Nemours Price Performance

Shares of DD opened at $40.46 on Monday. The firm has a market capitalization of $16.95 billion, a price-to-earnings ratio of -21.99, a PEG ratio of 2.33 and a beta of 1.09. The firm’s fifty day simple moving average is $36.19 and its 200-day simple moving average is $32.49. DuPont de Nemours, Inc. has a twelve month low of $22.50 and a twelve month high of $41.23. The company has a current ratio of 2.00, a quick ratio of 1.63 and a debt-to-equity ratio of 0.30.

DuPont de Nemours (NYSE:DD) last posted its quarterly earnings results on Monday, July 11th. The basic materials company reported $0.29 earnings per share 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 for the quarter. Equities analysts forecast that DuPont de Nemours, Inc. will post 4.38 EPS for the current fiscal year.

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

DuPont de Nemours Cuts Dividend

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

DuPont de Nemours 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.