RiverFront Investment Group LLC Has $428,000 Position in DuPont de Nemours, Inc. $DD

RiverFront Investment Group LLC lessened its holdings in DuPont de Nemours, Inc. (NYSE:DD) by 61.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,240 shares of the basic materials company’s stock after selling 10,079 shares during the period. RiverFront Investment Group LLC’s holdings in DuPont de Nemours were worth $428,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DD. Obermeyer Wealth Partners lifted 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 worth $1,726,000 after purchasing an additional 10,663 shares in the last quarter. Prospera Financial Services Inc increased its stake 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 buying an additional 15,144 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position 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 buying an additional 99,667 shares in the last quarter. KBC Group NV boosted its stake 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 valued at $5,573,000 after buying an additional 7,684 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of DuPont de Nemours by 33.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 524,356 shares of the basic materials company’s stock valued at $35,966,000 after acquiring an additional 132,427 shares in the last quarter. 73.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DuPont de Nemours

In related news, SVP Steven P. Larrabee sold 103,267 shares of the company’s stock in a transaction dated 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 sale, the senior vice president owned 92,218 shares of the company’s stock, valued at $2,977,599.61. The trade was a 52.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 177,357 shares of company stock worth $5,714,857. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group increased their price objective on DuPont de Nemours to $44.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DuPont de Nemours in a research note on Wednesday, November 19th. Citigroup lifted their price target on DuPont de Nemours from $38.90 to $47.00 and gave the company a “buy” rating in a report on Friday, November 7th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of DuPont de Nemours from $90.00 to $46.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wolfe Research reduced their target price on shares of DuPont de Nemours from $87.00 to $39.00 and set an “outperform” rating for the company in a research note on Tuesday, November 4th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, DuPont de Nemours currently has an average rating of “Moderate Buy” and an average target price of $42.88.

DuPont de Nemours Stock Performance

Shares of DD opened at $38.75 on Wednesday. The company has a market capitalization 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 one year low of $22.50 and a one year high of $41.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.41 and a quick ratio of 0.94. The company’s fifty day moving average price is $34.98 and its 200 day moving average price is $31.89.

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

DuPont de Nemours announced that its board has authorized a share repurchase plan on Thursday, November 6th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 12.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

DuPont de Nemours Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 28th. DuPont de Nemours’s dividend payout ratio (DPR) is presently -43.48%.

DuPont de Nemours 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.