Entropy Technologies LP Grows Stake in DuPont de Nemours, Inc. $DD

Entropy Technologies LP raised its position in shares of DuPont de Nemours, Inc. (NYSE:DD) by 140.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,197 shares of the basic materials company’s stock after purchasing an additional 23,465 shares during the quarter. Entropy Technologies LP’s holdings in DuPont de Nemours were worth $2,757,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in DuPont de Nemours by 1.6% in the second quarter. Vanguard Group Inc. now owns 47,664,223 shares of the basic materials company’s stock worth $3,269,289,000 after buying an additional 769,600 shares in the last quarter. Geode Capital Management LLC increased its holdings in DuPont de Nemours by 4.8% in the 2nd quarter. Geode Capital Management LLC now owns 10,782,760 shares of the basic materials company’s stock valued at $736,487,000 after acquiring an additional 496,691 shares during the last quarter. Nuveen LLC bought a new stake in shares of DuPont de Nemours in the first quarter worth about $531,037,000. Price T Rowe Associates Inc. MD raised its holdings in shares of DuPont de Nemours by 21.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,159,807 shares of the basic materials company’s stock worth $310,656,000 after acquiring an additional 746,364 shares in the last quarter. Finally, Boston Partners raised its stake in DuPont de Nemours by 36.6% during the second quarter. Boston Partners now owns 3,483,001 shares of the basic materials company’s stock valued at $238,924,000 after purchasing an additional 932,575 shares in the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at DuPont de Nemours

In related news, SVP Steven P. Larrabee sold 103,267 shares of DuPont de Nemours stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $32.29, for a total value of $3,334,357.49. Following the completion of the transaction, the senior vice president owned 92,218 shares in the company, valued at $2,977,599.61. The trade was a 52.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 177,357 shares of company stock valued at $5,714,857. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. UBS Group raised their price objective on DuPont de Nemours to $44.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. KeyCorp cut their price target on shares of DuPont de Nemours from $93.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Wolfe Research reduced their price objective on DuPont de Nemours from $87.00 to $39.00 and set an “outperform” rating on the stock in a report on Tuesday, November 4th. Morgan Stanley cut their target price on shares of DuPont de Nemours from $80.00 to $44.00 in a research report on Monday, November 10th. Finally, BMO Capital Markets cut their price target on DuPont de Nemours from $104.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, DuPont de Nemours has a consensus rating of “Moderate Buy” and an average target price of $42.62.

DuPont de Nemours Stock Up 3.8%

DD stock opened at $38.52 on Friday. The firm’s fifty day simple moving average is $34.73 and its 200-day simple moving average is $31.67. The company has a market capitalization of $16.14 billion, a P/E ratio of -81.96, a price-to-earnings-growth 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. DuPont de Nemours, Inc. has a 12 month low of $22.50 and a 12 month high of $41.23.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings data on Monday, July 11th. The basic materials company reported $0.29 earnings per share for the quarter. The business had revenue of $3.02 billion during 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 forecast 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 initiated a share repurchase plan on Thursday, November 6th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the basic materials company to buy up to 12.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

DuPont de Nemours Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors 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 yield of 2.1%. The ex-dividend date is Friday, November 28th. DuPont de Nemours’s dividend payout ratio (DPR) is currently -43.48%.

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.