Insider Selling: DuPont de Nemours (NYSE:DD) CEO Sells $355,574.06 in Stock

DuPont de Nemours, Inc. (NYSE:DD) CEO Lori Koch sold 9,011 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $39.46, for a total value of $355,574.06. Following the completion of the transaction, the chief executive officer owned 288,326 shares in the company, valued at approximately $11,377,343.96. This trade represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

DuPont de Nemours Stock Up 0.3%

Shares of NYSE:DD opened at $39.64 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.63 and a current ratio of 2.00. DuPont de Nemours, Inc. has a 1 year low of $22.50 and a 1 year high of $41.23. The stock has a market capitalization of $16.61 billion, a P/E ratio of -21.54, a PEG ratio of 2.29 and a beta of 1.10. The stock has a 50-day simple moving average of $35.85 and a 200-day simple moving average of $32.31.

DuPont de Nemours (NYSE:DD) last posted its quarterly earnings results on Monday, July 11th. The basic materials company reported $0.29 EPS for the quarter. DuPont de Nemours had a negative net margin of 6.17% and a positive return on equity of 7.81%. The firm had revenue of $3.02 billion for the quarter. Equities analysts forecast that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current year.

DuPont de Nemours announced that its Board of Directors has authorized a share 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 repurchase up to 12.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

DuPont de Nemours Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, November 28th. DuPont de Nemours’s dividend payout ratio is -43.48%.

Hedge Funds Weigh In On DuPont de Nemours

Institutional investors and hedge funds have recently made changes to their positions in the business. Princeton Global Asset Management LLC increased its stake in shares of DuPont de Nemours by 64.4% in the second 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 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 worth $25,000 after acquiring an additional 207 shares in the last quarter. Palisade Asset Management LLC bought a new stake in shares of DuPont de Nemours in the 3rd quarter worth about $26,000. Financial Life Planners acquired a new stake in shares of DuPont de Nemours in the 3rd quarter valued at about $27,000. Finally, Imprint Wealth LLC acquired a new stake in shares of DuPont de Nemours in the 3rd quarter valued at about $27,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Citigroup raised their price objective on DuPont de Nemours from $38.90 to $47.00 and gave the company a “buy” rating in a research report on Friday, November 7th. 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 research report on Friday, November 7th. Zacks Research cut DuPont de Nemours from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Wolfe Research dropped their price objective on shares of DuPont de Nemours from $87.00 to $39.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 4th. Finally, KeyCorp decreased their target price on shares of DuPont de Nemours from $93.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.88.

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.