MTM Investment Management LLC Takes $104,000 Position in DuPont de Nemours, Inc. $DD

MTM Investment Management LLC purchased a new position in DuPont de Nemours, Inc. (NYSE:DD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,520 shares of the basic materials company’s stock, valued at approximately $104,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Princeton Global Asset Management LLC boosted its position in shares of 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 period. WPG Advisers LLC purchased a new position in shares of DuPont de Nemours during the 1st quarter valued at $35,000. Ransom Advisory Ltd purchased a new stake in DuPont de Nemours in the 1st quarter worth $40,000. Quaker Wealth Management LLC raised its holdings in DuPont de Nemours by 200.7% during the second quarter. Quaker Wealth Management LLC now owns 594 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 1,184 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its position in shares of DuPont de Nemours by 36.1% in the second 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 in the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

DuPont de Nemours Stock Down 2.3%

Shares of NYSE:DD opened at $39.65 on Monday. The company has a market cap of $16.61 billion, a price-to-earnings ratio of -84.36, a PEG ratio of 2.49 and a beta of 1.11. DuPont de Nemours, Inc. has a 12 month low of $22.50 and a 12 month high of $41.23. 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 company has a 50-day moving average price of $70.68 and a 200 day moving average price of $71.10.

DuPont de Nemours (NYSE:DD) last issued its quarterly earnings data on Monday, July 11th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter. The business 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%. As a group, equities research analysts predict that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current year.

DuPont de Nemours declared that its Board of Directors has approved a stock 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 buy up to 12.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

DuPont de Nemours Cuts Dividend

The firm 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 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, November 28th. DuPont de Nemours’s payout ratio is -43.48%.

Insider Activity at DuPont de Nemours

In other news, SVP Steven P. Larrabee sold 43,208 shares of the stock in a transaction that occurred 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 sale, the senior vice president directly owned 38,585 shares in the company, valued at approximately $2,977,604.45. This represents a 52.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 74,208 shares of company stock worth $5,714,861 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

DD has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their target price on DuPont de Nemours from $104.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Royal Bank Of Canada lifted their price objective on shares of DuPont de Nemours from $94.00 to $100.00 and gave the company an “outperform” rating in a research report 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. Weiss Ratings reiterated a “sell (d+)” rating on shares of DuPont de Nemours in a report on Thursday. Finally, 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 research report on Monday, November 3rd. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, DuPont de Nemours presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.25.

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.