Envestnet Asset Management Inc. Trims Stock Holdings in DuPont de Nemours, Inc. $DD

Envestnet Asset Management Inc. lowered its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 643,971 shares of the basic materials company’s stock after selling 13,217 shares during the period. Envestnet Asset Management Inc. owned 0.15% of DuPont de Nemours worth $50,164,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in DD. Salomon & Ludwin LLC grew its holdings in DuPont de Nemours by 186.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 318 shares of the basic materials company’s stock valued at $25,000 after buying an additional 207 shares in the last quarter. Princeton Global Asset Management LLC lifted its stake 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 purchasing an additional 143 shares in the last quarter. Crews Bank & Trust boosted its holdings in DuPont de Nemours by 55.8% in the 3rd quarter. Crews Bank & Trust now owns 508 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 182 shares during the period. Cary Street Partners Investment Advisory LLC grew its position in shares of DuPont de Nemours by 67.5% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 541 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 218 shares in the last quarter. Finally, Quaker Wealth Management LLC increased its holdings in shares of DuPont de Nemours by 200.7% in the second quarter. Quaker Wealth Management LLC now owns 594 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 1,184 shares during the period. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

DuPont de Nemours Stock Up 0.9%

Shares of NYSE:DD opened at $47.15 on Tuesday. The stock’s 50-day moving average price is $42.47 and its 200-day moving average price is $36.76. The company has a current ratio of 2.00, a quick ratio of 1.63 and a debt-to-equity ratio of 0.30. DuPont de Nemours, Inc. has a 12-month low of $22.50 and a 12-month high of $48.03. The stock has a market capitalization of $19.75 billion, a P/E ratio of -25.63, a price-to-earnings-growth ratio of 3.41 and a beta of 1.10.

DuPont de Nemours declared that its Board of Directors has approved a stock buyback program on Thursday, November 6th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the basic materials company to purchase up to 12.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at DuPont de Nemours

In other news, SVP Erik T. Hoover sold 6,005 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $39.79, for a total transaction of $238,938.95. Following the transaction, the senior vice president directly owned 112,101 shares of the company’s stock, valued at approximately $4,460,498.79. The trade was a 5.08% decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $39.46, for a total value of $355,574.06. Following the transaction, the chief executive officer owned 288,326 shares of the company’s stock, valued at approximately $11,377,343.96. This represents a 3.03% decrease in their position. The SEC filing for this sale provides additional information. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on DuPont de Nemours from $90.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, November 25th. KeyCorp boosted their price objective on DuPont de Nemours from $45.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, January 9th. Zacks Research raised shares of DuPont de Nemours from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of DuPont de Nemours in a research note on Monday, December 22nd. Finally, Citigroup raised their price objective on shares of DuPont de Nemours from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.42.

DuPont de Nemours Profile

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.