Rockefeller Capital Management L.P. Increases Stake in DuPont de Nemours, Inc. $DD

Rockefeller Capital Management L.P. raised its holdings in shares of DuPont de Nemours, Inc. (NYSE:DD) by 12.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,301 shares of the basic materials company’s stock after acquiring an additional 7,802 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in DuPont de Nemours were worth $4,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of DD. Princeton Global Asset Management LLC grew its holdings in DuPont de Nemours by 64.4% during the second quarter. Princeton Global Asset Management LLC now owns 365 shares of the basic materials company’s stock valued at $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 about $35,000. Ransom Advisory Ltd bought a new position in shares of DuPont de Nemours during the 1st quarter valued at approximately $40,000. Quaker Wealth Management LLC increased its holdings in DuPont de Nemours by 200.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 594 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 1,184 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its stake in DuPont de Nemours by 36.1% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 599 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 159 shares during the period. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

DuPont de Nemours Price Performance

NYSE:DD opened at $38.52 on Friday. 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 market capitalization of $16.14 billion, a P/E ratio of -81.96, a P/E/G 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 business’s 50-day moving average is $34.73 and its 200 day moving average is $31.67.

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 (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%. On average, equities research analysts forecast that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current fiscal year.

DuPont de Nemours announced that its Board of Directors has initiated a stock 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 repurchase up to 12.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

DuPont de Nemours Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. DuPont de Nemours’s dividend payout ratio is presently -43.48%.

Insider Buying and Selling

In other DuPont de Nemours news, SVP Steven P. Larrabee sold 103,267 shares of DuPont de Nemours stock in a transaction on Monday, September 15th. The shares were 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 directly owned 92,218 shares of the company’s stock, valued at $2,977,599.61. This trade represents a 52.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 177,357 shares of company stock worth $5,714,857 in the last three months. 0.61% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of DuPont de Nemours to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Royal Bank Of Canada cut their price target on DuPont de Nemours from $100.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday. Wolfe Research decreased their price target 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 dropped their price objective on DuPont de Nemours from $80.00 to $44.00 in a research note on Monday, November 10th. Finally, 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 note on Monday, November 3rd. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.62.

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.