Is E I Du Pont De Nemours And Co (DD) A Good Stock To Buy?

Due to the fact that E I Du Pont De Nemours And Co (NYSE:DD) has faced declining sentiment from the entirety of the hedge funds we track, it’s safe to say that there were a few hedgies that elected to cut their full holdings in the third quarter. Interestingly, Doug Silverman and Alexander Klabin’s Senator Investment Group cut the biggest stake of the 700 funds tracked by Insider Monkey, comprising close to $13 million in stock, and Clint Carlson’s Carlson Capital was right behind this move, as the fund dropped about $11.3 million worth of shares. These bearish behaviors are important to note, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s check out hedge fund activity in other stocks similar to E I Du Pont De Nemours And Co (NYSE:DD). We will take a look at Banco Santander, S.A. (ADR) (NYSE:SAN), Itau Unibanco Holding SA (ADR) (NYSE:ITUB), BlackRock, Inc. (NYSE:BLK), and The Dow Chemical Company (NYSE:DOW). This group of stocks’ market caps are similar to DD’s market cap.

As you can see these stocks had an average of 29 hedge funds with bullish positions and the average amount invested in these stocks was $1.01 billion. That figure was $3.46 billion in DD’s case. The Dow Chemical Company (NYSE:DOW) is the most popular stock in this table. On the other hand Banco Santander, S.A. (ADR) (NYSE:SAN) is the least popular one with only 16 bullish hedge fund positions. E I Du Pont De Nemours And Co (NYSE:DD) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard DOW might be a better candidate to consider a long position in.

Disclosure: None