Acadian Asset Management LLC Buys 226,049 Shares of DuPont de Nemours, Inc. $DD

Acadian Asset Management LLC increased its position in shares of DuPont de Nemours, Inc. (NYSE:DD) by 1,489.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 241,225 shares of the basic materials company’s stock after acquiring an additional 226,049 shares during the period. Acadian Asset Management LLC owned about 0.06% of DuPont de Nemours worth $16,545,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of DD. Princeton Global Asset Management LLC grew its position in shares of DuPont de Nemours by 64.4% in the 2nd quarter. Princeton Global Asset Management LLC now owns 365 shares of the basic materials company’s stock valued at $25,000 after buying an additional 143 shares during the last quarter. WPG Advisers LLC acquired a new position in DuPont de Nemours in the first quarter valued at $35,000. Ransom Advisory Ltd bought a new stake in DuPont de Nemours in the first quarter worth approximately $40,000. Quaker Wealth Management LLC lifted its position in shares of DuPont de Nemours by 200.7% during the 2nd 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 grew its stake in shares of DuPont de Nemours by 36.1% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 599 shares of the basic materials company’s stock valued at $41,000 after buying an additional 159 shares during the period. Institutional investors own 73.96% of the company’s stock.

Insider Transactions at DuPont de Nemours

In related news, SVP Steven P. Larrabee sold 43,208 shares of the business’s stock in a transaction dated 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 sale, the senior vice president owned 38,585 shares of the company’s stock, valued at $2,977,604.45. The trade was a 52.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 74,208 shares of company stock worth $5,714,861. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wells Fargo & Company lowered their price objective on DuPont de Nemours from $100.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. Zacks Research cut shares of DuPont de Nemours from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. UBS Group increased their price target on shares of DuPont de Nemours to $44.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Royal Bank Of Canada upped their price target on shares of DuPont de Nemours from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, Weiss Ratings cut shares of DuPont de Nemours from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Nine research 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.92.

DuPont de Nemours Stock Up 0.4%

Shares of NYSE:DD opened at $40.41 on Wednesday. The firm has a market capitalization of $16.92 billion, a P/E ratio of -85.98, a P/E/G ratio of 2.49 and a beta of 1.11. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 1.41. The stock has a 50 day moving average price of $72.87 and a 200-day moving average price of $71.64. DuPont de Nemours, Inc. has a 52-week low of $22.50 and a 52-week high of $40.79.

DuPont de Nemours (NYSE:DD) last issued its quarterly earnings results on Monday, July 11th. The basic materials company reported $0.69 earnings per share for the quarter. The company 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 anticipate that DuPont de Nemours, Inc. will post 4.38 EPS for the current fiscal year.

DuPont de Nemours declared that its Board of Directors has authorized a share buyback plan on Thursday, November 6th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the basic materials company to buy up to 12.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board 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 $0.20 dividend. 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 dividend payout ratio (DPR) is presently -43.48%.

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.