Massachusetts Financial Services Co. MA Cuts Stake in DuPont de Nemours, Inc. $DD

Massachusetts Financial Services Co. MA cut its stake in DuPont de Nemours, Inc. (NYSE:DD) by 29.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,039,499 shares of the basic materials company’s stock after selling 3,432,761 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.92% of DuPont de Nemours worth $551,429,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Obermeyer Wealth Partners raised its position in shares of DuPont de Nemours by 73.6% in the second 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 last quarter. Prospera Financial Services Inc raised its holdings in DuPont de Nemours by 19.1% in the 2nd 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. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in DuPont de Nemours by 15.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 756,907 shares of the basic materials company’s stock worth $56,526,000 after purchasing an additional 99,667 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of DuPont de Nemours by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 46,894,623 shares of the basic materials company’s stock worth $3,502,090,000 after purchasing an additional 298,408 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of DuPont de Nemours in the first quarter valued at approximately $531,037,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DuPont de Nemours

In other news, SVP Steven P. Larrabee sold 43,208 shares of DuPont de Nemours stock in a transaction on Monday, September 15th. The stock was sold at an average price of $77.17, for a total value of $3,334,361.36. Following the completion of the sale, the senior vice president directly owned 38,585 shares of the company’s stock, valued at approximately $2,977,604.45. The trade was a 52.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 74,208 shares of company stock worth $5,714,861 in the last ninety days. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DD shares. UBS Group lifted their price objective on DuPont de Nemours to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Wells Fargo & Company reduced their price target on DuPont de Nemours from $100.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Morgan Stanley lowered their price target on shares of DuPont de Nemours from $80.00 to $44.00 in a research report on Monday, November 10th. Citigroup raised their price objective on shares of DuPont de Nemours from $38.90 to $47.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, BMO Capital Markets reduced their target price on shares of DuPont de Nemours from $104.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, DuPont de Nemours presently has an average rating of “Moderate Buy” and an average target price of $58.25.

DuPont de Nemours Trading Down 2.3%

Shares of DD stock opened at $39.65 on Friday. DuPont de Nemours, Inc. has a 1-year low of $22.50 and a 1-year high of $41.23. The firm has a market cap of $16.61 billion, a PE ratio of -84.36, a price-to-earnings-growth ratio of 2.49 and a beta of 1.11. The company has a 50-day moving average of $70.68 and a two-hundred day moving average of $71.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.41 and a quick ratio of 0.94.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings results on Monday, July 11th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter. The business had revenue of $3.02 billion for the quarter. DuPont de Nemours had a negative net margin of 1.54% and a positive return on equity of 7.85%. On average, analysts predict that DuPont de Nemours, Inc. will post 4.38 EPS for the current year.

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

DuPont de Nemours Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be given a dividend of $0.20 per share. 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 currently -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.