Wealth Alliance LLC Grows Stake in DuPont de Nemours, Inc. $DD

Wealth Alliance LLC raised its holdings in shares of DuPont de Nemours, Inc. (NYSE:DD) by 31.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,186 shares of the basic materials company’s stock after buying an additional 2,195 shares during the quarter. Wealth Alliance LLC’s holdings in DuPont de Nemours were worth $630,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of DuPont de Nemours by 19.6% during the fourth quarter. Brighton Jones LLC now owns 5,012 shares of the basic materials company’s stock valued at $382,000 after purchasing an additional 822 shares during the period. Cerity Partners LLC boosted its holdings in shares of DuPont de Nemours by 5.8% during the first quarter. Cerity Partners LLC now owns 109,595 shares of the basic materials company’s stock valued at $8,185,000 after acquiring an additional 6,029 shares during the period. New York State Common Retirement Fund grew its position in shares of DuPont de Nemours by 2.8% during the first quarter. New York State Common Retirement Fund now owns 241,065 shares of the basic materials company’s stock worth $18,003,000 after acquiring an additional 6,500 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of DuPont de Nemours during the first quarter valued at approximately $1,802,000. Finally, Sigma Planning Corp grew its stake in shares of DuPont de Nemours by 6.2% in the first quarter. Sigma Planning Corp now owns 15,147 shares of the basic materials company’s stock worth $1,131,000 after purchasing an additional 880 shares in the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Wall Street Analysts Forecast Growth

DD has been the subject of several research reports. Weiss Ratings lowered shares of DuPont de Nemours from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, November 7th. Wolfe Research lowered their target price on DuPont de Nemours from $87.00 to $39.00 and set an “outperform” rating for the company in a research note on Tuesday, November 4th. BMO Capital Markets decreased their target price on DuPont de Nemours from $104.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. UBS Group lifted their price target on DuPont de Nemours to $44.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Zacks Research downgraded shares of DuPont de Nemours from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.92.

Insiders Place Their Bets

In related news, SVP Steven P. Larrabee sold 43,208 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 38,585 shares of the company’s stock, valued at approximately $2,977,604.45. This trade represents a 52.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 74,208 shares of company stock valued at $5,714,861. Insiders own 0.61% of the company’s stock.

DuPont de Nemours Price Performance

Shares of DD stock traded up $0.35 during trading hours on Thursday, hitting $41.14. The stock had a trading volume of 283,147 shares, compared to its average volume of 7,210,521. The stock has a market capitalization of $17.24 billion, a price-to-earnings ratio of -87.50, a PEG ratio of 2.49 and a beta of 1.11. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.41 and a quick ratio of 0.94. The stock’s 50-day moving average price is $72.18 and its two-hundred day moving average price is $71.42. DuPont de Nemours, Inc. has a one year low of $22.50 and a one year high of $41.23.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings data on Monday, July 11th. The basic materials company reported $0.69 EPS for the quarter. DuPont de Nemours had a positive return on equity of 7.85% and a negative net margin of 1.54%.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 year.

DuPont de Nemours Cuts Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. DuPont de Nemours’s payout ratio is presently -43.48%.

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

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.