Voya Investment Management LLC Sells 63,221 Shares of DuPont de Nemours, Inc. $DD

Voya Investment Management LLC decreased its holdings in shares of DuPont de Nemours, Inc. (NYSE:DD) by 5.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,152,776 shares of the basic materials company’s stock after selling 63,221 shares during the quarter. Voya Investment Management LLC owned about 0.28% of DuPont de Nemours worth $89,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in DD. Vanguard Group Inc. lifted 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 in the last quarter. State Street Corp increased its position in shares of DuPont de Nemours by 4.8% during 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 purchasing an additional 842,852 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of DuPont de Nemours by 4.8% during the 2nd quarter. Geode Capital Management LLC now owns 10,782,760 shares of the basic materials company’s stock valued at $736,487,000 after buying an additional 496,691 shares in the last quarter. Norges Bank bought a new position in DuPont de Nemours during the second quarter valued at approximately $313,306,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of DuPont de Nemours by 21.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,159,807 shares of the basic materials company’s stock worth $310,656,000 after acquiring an additional 746,364 shares in the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Stock Up 1.9%

NYSE:DD opened at $41.27 on Friday. The firm has a market cap of $17.29 billion, a P/E ratio of -22.43, a P/E/G ratio of 2.33 and a beta of 1.10. DuPont de Nemours, Inc. has a fifty-two week low of $22.50 and a fifty-two week high of $41.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.63 and a current ratio of 2.00. The firm has a 50-day simple moving average of $37.80 and a two-hundred day simple moving average of $33.30.

DuPont de Nemours (NYSE:DD) last issued its 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 7.81% and a negative net margin of 6.17%.The business had revenue of $3.02 billion for the quarter. Analysts predict that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current fiscal year.

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

DuPont de Nemours Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, November 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. DuPont de Nemours’s payout ratio is currently -43.48%.

Analyst Upgrades and Downgrades

Several research firms recently commented on DD. 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 report on Monday, November 3rd. Morgan Stanley dropped their price target on shares of DuPont de Nemours from $80.00 to $44.00 in a research report on Monday, November 10th. Citigroup boosted 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. Wolfe Research dropped their price target on 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. Finally, Wells Fargo & Company lowered their price objective on shares of DuPont de Nemours from $100.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 7th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.69.

Insider Transactions at DuPont de Nemours

In other DuPont de Nemours news, 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 transaction, the chief executive officer directly owned 288,326 shares of the company’s stock, valued at approximately $11,377,343.96. This trade represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Erik T. Hoover sold 6,005 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $39.79, for a total transaction of $238,938.95. Following the completion of the transaction, the senior vice president directly owned 112,101 shares in the company, valued at approximately $4,460,498.79. The trade was a 5.08% decrease in their position. The SEC filing for this sale provides additional information. 0.61% of the stock is currently owned by corporate insiders.

DuPont de Nemours 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.