Investment Management Corp of Ontario Has $2.47 Million Holdings in DuPont de Nemours, Inc. $DD

Investment Management Corp of Ontario grew its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 205.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,011 shares of the basic materials company’s stock after buying an additional 24,206 shares during the period. Investment Management Corp of Ontario’s holdings in DuPont de Nemours were worth $2,470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of DD. Norges Bank bought a new position in shares of DuPont de Nemours during the 2nd quarter valued at about $313,306,000. Boston Partners lifted its position in DuPont de Nemours by 36.6% in the 2nd quarter. Boston Partners now owns 3,483,001 shares of the basic materials company’s stock valued at $238,924,000 after acquiring an additional 932,575 shares in the last quarter. State Street Corp lifted its position in DuPont de Nemours by 4.8% in the 2nd quarter. State Street Corp now owns 18,363,975 shares of the basic materials company’s stock valued at $1,259,585,000 after acquiring an additional 842,852 shares in the last quarter. Vanguard Group Inc. boosted its stake in DuPont de Nemours by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 47,664,223 shares of the basic materials company’s stock worth $3,269,289,000 after purchasing an additional 769,600 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of DuPont de Nemours by 21.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,159,807 shares of the basic materials company’s stock valued at $310,656,000 after purchasing an additional 746,364 shares during the period. 73.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other DuPont de Nemours news, SVP Steven P. Larrabee sold 103,267 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $32.29, for a total value of $3,334,357.49. Following the transaction, the senior vice president directly owned 92,218 shares of the company’s stock, valued at $2,977,599.61. This represents a 52.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Erik T. Hoover sold 6,005 shares of DuPont de Nemours stock in a transaction on Friday, November 28th. The stock was sold at an average price of $39.79, for a total value of $238,938.95. Following the sale, the senior vice president directly owned 112,101 shares of the company’s stock, valued at $4,460,498.79. This represents a 5.08% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 118,283 shares of company stock valued at $3,928,870. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DD. Zacks Research lowered DuPont de Nemours from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Royal Bank Of Canada cut their price objective on shares of DuPont de Nemours from $100.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 18th. JPMorgan Chase & Co. cut their price target on shares of DuPont de Nemours from $104.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of DuPont de Nemours in a research note on Monday. Finally, KeyCorp cut their price objective on DuPont de Nemours from $93.00 to $44.00 and set an “overweight” rating for the company in a report 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 presently has an average rating of “Moderate Buy” and a consensus target price of $42.88.

DuPont de Nemours Stock Performance

DD opened at $40.97 on Thursday. The company has a quick ratio of 1.63, a current ratio of 2.00 and a debt-to-equity ratio of 0.30. The stock has a market cap of $17.16 billion, a price-to-earnings ratio of -22.26, a PEG ratio of 2.33 and a beta of 1.10. DuPont de Nemours, Inc. has a 12-month low of $22.50 and a 12-month high of $41.27. The business has a 50 day moving average of $36.69 and a 200-day moving average of $32.73.

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

DuPont de Nemours declared that its Board of Directors has initiated a share buyback program on Thursday, November 6th that allows the company to buyback $2.00 billion in outstanding 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 often an indication that the company’s leadership believes its stock is undervalued.

DuPont de Nemours Cuts Dividend

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

DuPont de Nemours Company 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.