Resona Asset Management Co. Ltd. Boosts Stake in DuPont de Nemours, Inc. $DD

Resona Asset Management Co. Ltd. raised its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the 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 reporting period.

Several other hedge funds also recently bought and sold shares of DD. AdvisorNet Financial Inc boosted its stake in shares of DuPont de Nemours by 3.0% during the second quarter. AdvisorNet Financial Inc now owns 4,641 shares of the basic materials company’s stock valued at $318,000 after acquiring an additional 134 shares during the last quarter. Sagespring Wealth Partners LLC lifted its holdings in DuPont de Nemours by 3.9% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 3,729 shares of the basic materials company’s stock valued at $256,000 after purchasing an additional 140 shares in the last quarter. Princeton Global Asset Management LLC boosted its stake in shares of DuPont de Nemours by 64.4% during 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 during the last quarter. Summit Financial LLC grew its holdings in shares of DuPont de Nemours by 3.7% during the first quarter. Summit Financial LLC now owns 4,077 shares of the basic materials company’s stock worth $304,000 after buying an additional 146 shares in the last quarter. Finally, NORTHSTAR ASSET MANAGEMENT Co raised its position in shares of DuPont de Nemours by 3.8% in the second quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 4,090 shares of the basic materials company’s stock valued at $281,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Insider Transactions at DuPont de Nemours

In other news, SVP Steven P. Larrabee sold 43,208 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $77.17, for a total value of $3,334,361.36. Following the completion of the sale, the senior vice president owned 38,585 shares of the company’s stock, valued at $2,977,604.45. This represents a 52.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 74,208 shares of company stock worth $5,714,861 in the last ninety days. 0.61% of the stock is owned by insiders.

Analysts Set New Price Targets

DD has been the topic of a number of analyst reports. BMO Capital Markets decreased their target price on shares of 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. Wells Fargo & Company decreased their price objective on DuPont de Nemours from $100.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday. JPMorgan Chase & Co. upped their target price 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. UBS Group raised their price target on DuPont de Nemours to $44.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Royal Bank Of Canada lifted their price target on DuPont de Nemours from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, DuPont de Nemours currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.92.

DuPont de Nemours Price Performance

Shares of DuPont de Nemours stock opened at $39.74 on Friday. The business’s fifty day moving average price is $74.31 and its 200 day moving average price is $71.94. DuPont de Nemours, Inc. has a twelve month low of $22.50 and a twelve month high of $40.11. 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 stock 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 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. As a group, research analysts anticipate that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current year.

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

DuPont de Nemours Cuts Dividend

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

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.