Lido Advisors LLC Cuts Holdings in DuPont de Nemours, Inc. $DD

Lido Advisors LLC lowered its stake in shares of DuPont de Nemours, Inc. (NYSE:DD) by 75.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 25,034 shares of the basic materials company’s stock after selling 77,184 shares during the period. Lido Advisors LLC’s holdings in DuPont de Nemours were worth $1,717,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in DuPont de Nemours by 1.6% during the second 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 last quarter. Geode Capital Management LLC boosted its stake in DuPont de Nemours by 4.8% in the second quarter. Geode Capital Management LLC now owns 10,782,760 shares of the basic materials company’s stock worth $736,487,000 after buying an additional 496,691 shares in the last quarter. Nuveen LLC bought a new position in DuPont de Nemours during the first quarter valued at approximately $531,037,000. Norges Bank purchased a new position in shares of DuPont de Nemours during the second quarter worth approximately $313,306,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings 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 worth $310,656,000 after acquiring an additional 746,364 shares during the last quarter. Institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Stock Up 0.3%

Shares of NYSE:DD opened at $39.78 on Friday. The firm has a market capitalization of $16.67 billion, a P/E ratio of -21.62, a P/E/G ratio of 2.28 and a beta of 1.10. 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 stock has a 50 day moving average price of $36.02 and a 200-day moving average price of $32.36. DuPont de Nemours, Inc. has a 52-week low of $22.50 and a 52-week high of $41.23.

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

DuPont de Nemours Cuts Dividend

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

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. BMO Capital Markets decreased 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 research report on Monday, November 3rd. Citigroup increased their price objective on DuPont de Nemours from $38.90 to $47.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Morgan Stanley lowered their price target on shares of DuPont de Nemours from $80.00 to $44.00 in a report on Monday, November 10th. Weiss Ratings restated a “sell (d+)” rating on shares of DuPont de Nemours in a research report on Monday. Finally, Wolfe Research dropped 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 report on Tuesday, November 4th. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.88.

Insider Activity

In other news, SVP Erik T. Hoover sold 6,005 shares of the business’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 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. The trade was a 5.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Steven P. Larrabee sold 103,267 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 92,218 shares in the company, valued at $2,977,599.61. The trade was a 52.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 118,283 shares of company stock worth $3,928,870. Insiders own 0.61% of the company’s stock.

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.