Mixed results for this three-way split

Article Excerpt

In 2019, the old DowDupont broke itself into three new firms—DuPont, Dow and Corteva (see box). Since then, Corteva is up over 70%, but Dow is down 1% and DuPont has dropped 14%. Even so, we still like the long-term prospects for all three. We see each as a buy. DUPONT DE NEMOURS INC. $71 is a buy. The company (New York symbol DD; Manufacturing sector; Shares outstanding: 430.0 million; Market cap: $30.5 billion; Dividend yield: 2.0%; Takeover Target Rating: Medium; www.dupont.com) makes chemicals and other materials for a wide variety of industrial clients. DuPont continues to sell its less-important operations. In November 2022, it sold roughly 80% of its Mobility and Materials segment, which makes polymers and performance resins, for $11.0 billion. As well, in November 2023, DuPont sold 80.1% of its Delrin business for $1.28 billion. Manufacturers use Delrin’s main product to replace metal parts in gears, door systems and conveyor belts. Meanwhile, in the quarter ended September 30, 2023, DuPont’s overall revenue fell 7.8%,…