Varma Mutual Pension Insurance Co increased its position in shares of DuPont de Nemours, Inc. (NYSE:DD – Free Report) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,539 shares of the basic materials company’s stock after acquiring an additional 11,900 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in DuPont de Nemours were worth $11,727,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of DD. Princeton Global Asset Management LLC increased its holdings in shares of DuPont de Nemours by 64.4% during the 2nd quarter. Princeton Global Asset Management LLC now owns 365 shares of the basic materials company’s stock worth $25,000 after buying an additional 143 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in shares of DuPont de Nemours by 186.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 318 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 207 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased 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 worth $37,000 after purchasing an additional 218 shares during the last quarter. Crews Bank & Trust raised 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 buying an additional 182 shares during the period. Finally, Quaker Wealth Management LLC lifted its position in 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 valued at $41,000 after buying an additional 1,184 shares during the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.
DuPont de Nemours Stock Down 4.2%
Shares of NYSE DD opened at $49.34 on Friday. DuPont de Nemours, Inc. has a 1 year low of $22.50 and a 1 year high of $52.66. The company has a market capitalization of $20.67 billion, a price-to-earnings ratio of -26.53, a price-to-earnings-growth ratio of 3.66 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.42 and a quick ratio of 1.63. The business has a 50-day moving average of $43.10 and a two-hundred day moving average of $37.07.
DuPont de Nemours announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 6th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the basic materials company to buy up to 12.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
Insider Transactions at DuPont de Nemours
In other news, CEO Lori Koch sold 9,011 shares of DuPont de Nemours stock in a transaction 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 directly owned 288,326 shares of the company’s stock, valued at $11,377,343.96. The trade was a 3.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Erik T. Hoover sold 6,005 shares of the company’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $39.79, for a total transaction of $238,938.95. Following the completion of the sale, the senior vice president owned 112,101 shares of the company’s stock, valued at approximately $4,460,498.79. This trade represents a 5.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.61% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on DD. JPMorgan Chase & Co. upped their price objective on shares of DuPont de Nemours from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Royal Bank Of Canada raised their price objective on shares of DuPont de Nemours from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Argus cut their target price on shares of DuPont de Nemours from $86.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of 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. Finally, Citigroup increased their price objective on DuPont de Nemours from $50.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday. Twelve investment 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.46.
Read Our Latest Stock Report on DuPont de Nemours
DuPont de Nemours Company 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.
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