Resona Asset Management Co. Ltd. Grows Stock Holdings in DuPont de Nemours, Inc. $DD

Resona Asset Management Co. Ltd. boosted its holdings in DuPont de Nemours, Inc. (NYSE:DD) by 5.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 142,921 shares of the basic materials company’s stock after buying an additional 7,002 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in DuPont de Nemours were worth $9,809,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DD. Obermeyer Wealth Partners grew its holdings in shares of 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 worth $1,726,000 after buying an additional 10,663 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in DuPont de Nemours by 15.2% during 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 acquiring an additional 99,667 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in DuPont de Nemours by 3.4% during the 1st quarter. Stratos Wealth Partners LTD. now owns 9,582 shares of the basic materials company’s stock worth $716,000 after acquiring an additional 311 shares during the period. Vanguard Group Inc. grew its stake in shares of DuPont de Nemours by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 46,894,623 shares of the basic materials company’s stock valued at $3,502,090,000 after purchasing an additional 298,408 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of DuPont de Nemours in the 1st quarter valued at approximately $531,037,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

DuPont de Nemours Trading Up 1.5%

Shares of DD opened at $39.74 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average is $74.31 and its two-hundred day moving average is $71.94. DuPont de Nemours, Inc. has a twelve month low of $22.50 and a twelve month high of $40.11. The firm has a market capitalization of $16.64 billion, a P/E ratio of -84.55, a PEG ratio of 2.49 and a beta of 1.11.

DuPont de Nemours (NYSE:DD) last posted its quarterly earnings results on Monday, July 11th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter. The company had revenue of $3.02 billion during the quarter. DuPont de Nemours had a negative net margin of 1.54% and a positive return on equity of 7.85%. On average, research analysts predict that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current fiscal year.

DuPont de Nemours announced that its Board of Directors has approved a share buyback plan on Thursday, November 6th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 12.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

DuPont de Nemours Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, November 28th. DuPont de Nemours’s payout ratio is presently -348.94%.

Insider Buying and Selling at DuPont de Nemours

In other news, SVP Steven P. Larrabee sold 43,208 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $77.17, for a total value of $3,334,361.36. Following the completion of the transaction, the senior vice president owned 38,585 shares in the company, valued at $2,977,604.45. This trade represents a 52.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 74,208 shares of company stock valued at $5,714,861 in the last three months. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. BMO Capital Markets decreased their price target on DuPont de Nemours from $104.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Royal Bank Of Canada raised their target price on shares of DuPont de Nemours from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Zacks Research downgraded shares of DuPont de Nemours from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Citigroup increased their price target on shares of DuPont de Nemours from $38.90 to $47.00 and gave the stock a “buy” rating in a report on Friday. Finally, Weiss Ratings downgraded shares of DuPont de Nemours from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Nine equities 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $65.92.

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.