DuPont de Nemours, Inc. (NYSE:DD) Sees Significant Drop in Short Interest

by · The Cerbat Gem

DuPont de Nemours, Inc. (NYSE:DD – Get Free Report) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 15,244,305 shares, a decline of 23.0% from the November 30th total of 19,809,102 shares. Based on an average trading volume of 4,528,012 shares, the days-to-cover ratio is presently 3.4 days. Currently, 3.7% of the shares of the company are sold short. Currently, 3.7% of the shares of the company are sold short. Based on an average trading volume of 4,528,012 shares, the days-to-cover ratio is presently 3.4 days.

Insiders Place Their Bets

In other DuPont de Nemours news, SVP Erik T. Hoover sold 6,005 shares of the stock in a transaction 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 sale, the senior vice president owned 112,101 shares in the company, valued at $4,460,498.79. This represents a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the transaction, the chief executive officer 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 SEC filing for this sale provides additional information. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its stake in DuPont de Nemours by 1.1% during the 3rd quarter. Blue Trust Inc. now owns 11,990 shares of the basic materials company’s stock valued at $934,000 after acquiring an additional 127 shares during the period. Pacifica Partners Inc. raised its holdings in shares of DuPont de Nemours by 27.0% during the third quarter. Pacifica Partners Inc. now owns 602 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 128 shares during the last quarter. AdvisorNet Financial Inc lifted its position in DuPont de Nemours by 3.0% during the second quarter. AdvisorNet Financial Inc now owns 4,641 shares of the basic materials company’s stock valued at $318,000 after purchasing an additional 134 shares during the period. Sagespring Wealth Partners LLC boosted its holdings in DuPont de Nemours by 3.9% in the second quarter. Sagespring Wealth Partners LLC now owns 3,729 shares of the basic materials company’s stock worth $256,000 after purchasing an additional 140 shares during the last quarter. Finally, Princeton Global Asset Management LLC grew its position in DuPont de Nemours by 64.4% in the 2nd quarter. Princeton Global Asset Management LLC now owns 365 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 143 shares during the period. 73.96% of the stock is owned by hedge funds and other institutional investors.

DuPont de Nemours Trading Down 0.5%

NYSE:DD traded down $0.22 during mid-day trading on Tuesday, reaching $40.67. 3,068,554 shares of the company’s stock traded hands, compared to its average volume of 4,639,702. The company has a 50 day moving average price of $38.93 and a 200-day moving average price of $33.98. The firm has a market capitalization of $17.04 billion, a price-to-earnings ratio of -22.10, a PEG ratio of 2.35 and a beta of 1.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.00 and a quick ratio of 1.63. DuPont de Nemours has a 12-month low of $22.50 and a 12-month high of $41.85.

DuPont de Nemours (NYSE:DD – Get Free Report) last released its quarterly earnings data on Monday, July 11th. The basic materials company reported $0.29 earnings per share 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%. On average, sell-side analysts predict that DuPont de Nemours will post 4.38 earnings per share for the current year.

DuPont de Nemours Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a $0.20 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.80 annualized dividend and a yield of 2.0%. DuPont de Nemours’s dividend payout ratio (DPR) is -43.48%.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. KeyCorp dropped 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 report on Wednesday, November 5th. Zacks Research downgraded shares of DuPont de Nemours from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. BMO Capital Markets reduced their target price on DuPont de Nemours from $104.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. UBS Group raised their price target on DuPont de Nemours to $44.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada cut their price objective on DuPont de Nemours from $100.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, November 18th. 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.69.

Get Our Latest Stock Analysis on DuPont de Nemours

DuPont de Nemours Company Profile

(Get Free Report)

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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