Assenagon Asset Management S.A. Decreases Stock Holdings in DuPont de Nemours, Inc. $DD

Assenagon Asset Management S.A. reduced its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 80.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,888 shares of the basic materials company’s stock after selling 508,155 shares during the period. Assenagon Asset Management S.A.’s holdings in DuPont de Nemours were worth $9,573,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Obermeyer Wealth Partners raised its holdings in DuPont de Nemours by 73.6% in the 2nd quarter. Obermeyer Wealth Partners now owns 25,159 shares of the basic materials company’s stock valued at $1,726,000 after buying an additional 10,663 shares during the period. Prospera Financial Services Inc increased its position in shares of DuPont de Nemours by 19.1% during the second quarter. Prospera Financial Services Inc now owns 94,434 shares of the basic materials company’s stock valued at $6,477,000 after acquiring an additional 15,144 shares during the last quarter. Drummond Knight Asset Management Pty Ltd raised its stake in shares of DuPont de Nemours by 107.9% in the 2nd quarter. Drummond Knight Asset Management Pty Ltd now owns 704,489 shares of the basic materials company’s stock valued at $48,321,000 after acquiring an additional 365,619 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of DuPont de Nemours by 33.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 524,356 shares of the basic materials company’s stock worth $35,966,000 after acquiring an additional 132,427 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of DuPont de Nemours by 10.4% during the 2nd quarter. KBC Group NV now owns 81,254 shares of the basic materials company’s stock worth $5,573,000 after purchasing an additional 7,684 shares during the period. Institutional investors and hedge funds own 73.96% of the company’s stock.

Insider Buying and Selling at DuPont de Nemours

In other news, SVP Erik T. Hoover sold 6,005 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $39.79, for a total value of $238,938.95. Following the completion of the sale, the senior vice president directly owned 112,101 shares of the company’s stock, valued at approximately $4,460,498.79. This represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lori Koch sold 9,011 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $39.46, for a total transaction of $355,574.06. Following the sale, the chief executive officer owned 288,326 shares of the company’s stock, valued at $11,377,343.96. This trade represents a 3.03% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DD shares. KeyCorp dropped their price objective on DuPont de Nemours from $93.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. UBS Group lifted their target price on DuPont de Nemours to $44.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Mizuho boosted their price target on shares of DuPont de Nemours from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company lowered their price objective on shares of 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. Finally, JPMorgan Chase & Co. cut their target price on shares of DuPont de Nemours from $104.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Ten 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.69.

DuPont de Nemours Trading Up 1.9%

Shares of DuPont de Nemours stock opened at $41.27 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.63 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $37.80 and a 200-day simple moving average of $33.34. The stock has a market cap of $17.29 billion, a price-to-earnings ratio of -22.43, a PEG ratio of 2.37 and a beta of 1.10. DuPont de Nemours, Inc. has a 12-month low of $22.50 and a 12-month high of $41.83.

DuPont de Nemours (NYSE:DD) last posted its earnings results on Monday, July 11th. The basic materials company reported $0.29 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 7.81% and a negative net margin of 6.17%. On average, equities analysts forecast 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 stock repurchase plan on Thursday, November 6th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to purchase up to 12.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

DuPont de Nemours Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, November 28th. DuPont de Nemours’s payout ratio is presently -43.48%.

About DuPont de Nemours

DuPont de Nemours (NYSE: DD) is a global science and engineering company that develops and supplies specialty materials, chemicals and industrial biosciences for a wide range of markets. Headquartered in Wilmington, Delaware, the company traces its origins to 1802 and has evolved through more than two centuries of innovation. In recent history DuPont participated in a major combination with Dow Chemical and subsequent reorganization that refocused the company on differentiated, specialty businesses built around science-based solutions.

DuPont’s operations center on advanced materials and technologies used by manufacturers and OEMs in industries such as transportation, electronics, construction, industrial manufacturing and worker safety.