Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Position in DuPont de Nemours, Inc. $DD

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in DuPont de Nemours, Inc. (NYSE:DD) by 5.7% in the second quarter, HoldingsChannel.com reports. The fund owned 800,155 shares of the basic materials company’s stock after purchasing an additional 43,248 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in DuPont de Nemours were worth $54,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Princeton Global Asset Management LLC boosted its holdings 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 worth $25,000 after purchasing an additional 143 shares during the last quarter. WPG Advisers LLC purchased a new stake in DuPont de Nemours during the 1st quarter valued at $35,000. Ransom Advisory Ltd bought a new position in shares of DuPont de Nemours during the 1st quarter valued at $40,000. Quaker Wealth Management LLC lifted its holdings in shares of 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 valued at $41,000 after buying an additional 1,184 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted 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 worth $41,000 after buying an additional 159 shares during the last quarter. 73.96% of the stock is owned by hedge funds and other institutional investors.

DuPont de Nemours Stock Performance

Shares of DD opened at $39.74 on Monday. The business has a 50-day simple moving average of $74.31 and a two-hundred day simple moving average of $72.00. 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, Inc. has a 52 week low of $22.50 and a 52 week high of $40.11. The stock has a market cap of $16.64 billion, a price-to-earnings 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 data on Monday, July 11th. The basic materials company reported $0.69 earnings per share for the quarter. The firm had revenue of $3.02 billion for the quarter. DuPont de Nemours had a positive return on equity of 7.85% and a negative net margin of 1.54%. On average, analysts expect that DuPont de Nemours, Inc. will post 4.38 EPS for the current year.

DuPont de Nemours Cuts Dividend

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

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. BMO Capital Markets cut their price objective 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. Citigroup raised their target price on DuPont de Nemours from $38.90 to $47.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on DuPont de Nemours from $99.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Weiss Ratings cut shares of DuPont de Nemours from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Finally, UBS Group raised their price objective on shares of DuPont de Nemours to $44.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Nine 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.92.

Insider Activity

In other news, SVP Steven P. Larrabee sold 43,208 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $77.17, for a total transaction of $3,334,361.36. Following the sale, the senior vice president directly owned 38,585 shares in the company, valued at $2,977,604.45. 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 have sold 74,208 shares of company stock valued at $5,714,861 over 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.