AlphaCore Capital LLC Makes New $156,000 Investment in DuPont de Nemours, Inc. $DD

AlphaCore Capital LLC purchased a new position in DuPont de Nemours, Inc. (NYSE:DD) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,273 shares of the basic materials company’s stock, valued at approximately $156,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Princeton Global Asset Management LLC raised its position in 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 worth $25,000 after buying an additional 143 shares during the last quarter. WPG Advisers LLC purchased a new stake in shares of DuPont de Nemours during the 1st quarter valued at about $35,000. Ransom Advisory Ltd bought a new stake in shares of DuPont de Nemours in the first quarter worth approximately $40,000. Quaker Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 1,184 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of DuPont de Nemours by 36.1% during the second quarter. Creative Financial Designs Inc. ADV now owns 599 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 159 shares during the last quarter. 73.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on DD. Wells Fargo & Company dropped their target price on shares of DuPont de Nemours from $100.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Zacks Research cut DuPont de Nemours from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft cut their price objective on DuPont de Nemours from $90.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday. UBS Group upped their price objective on DuPont de Nemours to $44.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, KeyCorp dropped their target price on DuPont de Nemours from $93.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Ten equities research 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. Based on data from MarketBeat, DuPont de Nemours has a consensus rating of “Moderate Buy” and an average target price of $42.88.

DuPont de Nemours Trading Up 0.7%

Shares of NYSE:DD opened at $38.75 on Wednesday. The stock has a 50 day moving average of $34.98 and a 200 day moving average of $31.89. The company has a market cap of $16.24 billion, a PE ratio of -82.45, a price-to-earnings-growth 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.

DuPont de Nemours (NYSE:DD) last released its earnings results on Monday, July 11th. The basic materials company reported $0.29 EPS for the quarter. DuPont de Nemours had a negative net margin of 1.54% and a positive return on equity of 7.85%. The company had revenue of $3.02 billion for the quarter. As a group, equities research analysts expect that DuPont de Nemours, Inc. will post 4.38 EPS for the current year.

DuPont de Nemours Cuts Dividend

The company also recently announced 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 is Friday, November 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. DuPont de Nemours’s payout ratio is -43.48%.

DuPont de Nemours declared that its board has authorized a share repurchase program on Thursday, November 6th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the basic materials company to reacquire up to 12.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, SVP Steven P. Larrabee sold 103,267 shares of the company’s 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 owned 92,218 shares of the company’s stock, valued at approximately $2,977,599.61. This represents a 52.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 177,357 shares of company stock valued at $5,714,857. Corporate insiders own 0.61% of the company’s stock.

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.