MYDA Advisors LLC Takes $1.86 Million Position in DuPont de Nemours, Inc. (NYSE:DD)

MYDA Advisors LLC bought a new stake in DuPont de Nemours, Inc. (NYSE:DD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 24,000 shares of the basic materials company’s stock, valued at approximately $1,855,000.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in DuPont de Nemours by 0.9% in the fourth quarter. BlackRock Inc. now owns 48,466,579 shares of the basic materials company’s stock valued at $3,446,458,000 after purchasing an additional 416,181 shares during the period. Price T Rowe Associates Inc. MD raised its position in DuPont de Nemours by 5.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,654,598 shares of the basic materials company’s stock valued at $1,895,408,000 after purchasing an additional 1,280,420 shares during the period. Boston Partners raised its position in DuPont de Nemours by 1.7% in the first quarter. Boston Partners now owns 11,155,163 shares of the basic materials company’s stock valued at $862,025,000 after purchasing an additional 183,410 shares during the period. Norges Bank acquired a new stake in shares of DuPont de Nemours in the fourth quarter valued at $624,333,000. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of DuPont de Nemours by 4.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,482,237 shares of the basic materials company’s stock valued at $532,061,000 after buying an additional 350,836 shares in the last quarter. Hedge funds and other institutional investors own 70.54% of the company’s stock.

In related news, insider Jon D. Kemp sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 25th. The stock was sold at an average price of $84.38, for a total value of $295,330.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Raj Ratnakar sold 11,408 shares of the stock in a transaction on Friday, May 7th. The shares were sold at an average price of $82.80, for a total value of $944,582.40. Following the sale, the senior vice president now owns 11,896 shares in the company, valued at approximately $984,988.80. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

A number of equities research analysts have recently weighed in on DD shares. Wells Fargo & Company lifted their price objective on DuPont de Nemours from $90.00 to $95.00 in a research note on Wednesday, May 5th. Argus lifted their price objective on DuPont de Nemours from $81.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, May 20th. DZ Bank raised DuPont de Nemours from a “sell” rating to a “hold” rating and set a $77.00 price objective for the company in a research note on Thursday, February 11th. The Goldman Sachs Group raised DuPont de Nemours from a “neutral” rating to a “buy” rating and set a $102.00 price objective for the company in a research note on Monday, May 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on DuPont de Nemours from $88.00 to $92.00 in a research note on Wednesday, May 5th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. DuPont de Nemours currently has a consensus rating of “Hold” and an average price target of $82.71.

NYSE DD traded down $0.14 during trading on Friday, reaching $82.67. 39,048 shares of the company’s stock were exchanged, compared to its average volume of 8,257,821. The firm has a market cap of $43.99 billion, a PE ratio of 14.48, a P/E/G ratio of 2.48 and a beta of 1.53. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.77 and a current ratio of 2.21. The stock has a 50 day simple moving average of $80.60. DuPont de Nemours, Inc. has a 1 year low of $49.01 and a 1 year high of $87.27.

DuPont de Nemours (NYSE:DD) last posted its earnings results on Tuesday, May 4th. The basic materials company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.15. DuPont de Nemours had a return on equity of 6.76% and a net margin of 15.97%. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the previous year, the business earned $0.84 EPS. The business’s quarterly revenue was down 23.8% on a year-over-year basis. As a group, research analysts anticipate that DuPont de Nemours, Inc. will post 3.76 earnings per share for the current fiscal year.

DuPont de Nemours announced that its Board of Directors has approved a share repurchase plan on Monday, March 8th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 2.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, May 28th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.45%. The ex-dividend date is Thursday, May 27th. DuPont de Nemours’s dividend payout ratio is presently 35.71%.

About DuPont de Nemours

DuPont de Nemours, Inc provides technology-based materials, ingredients, and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. The company's Electronics & Imaging segment supplies materials to manufacture photovoltaics and solar cells; materials and printing systems to the advanced printing industry; and materials and solutions for the fabrication of semiconductors and integrated circuits addressing front-end and back-end of the manufacturing process.

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Institutional Ownership by Quarter for DuPont de Nemours (NYSE:DD)

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