NEW YORK (TheStreet) -- DuPont (DD) - Get Report shares are down 0.3% to $78.05 in market trading on Wednesday after the company rejected a proposal by activist investment group Trian Fund Management to let shareholders split their votes between company-approved directors and those nominated by Trian.

The announcement is the latest salvo in a proxy war between the Wilmington, DE-based company and the Nelson Peltz-owned Trian Fund Management.

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Trian has been publicly critical of the company in recent weeks and has proposed that it use a tool known as a universal proxy, which allows voting shareholders to split their votes between company backed candidates and shareholder nominees if they are not convinced that either side of a proxy battle is correct.

The company said that after consulting with advisers it concluded that issuing a traditional proxy card to its 600,000 shareholders would provide the most accurate and reliable process for the election of directors.

A date for a shareholder meeting to elect board members has not been set yet.

Trian owns about a 2.7% stake in the company, according to Reuters, and has urged shareholders to vote for Peltz as well as three other nominees for the company's board positions.

Trian had previously advocated splitting up the company but said last month that it was open to keeping the company together.

TheStreet Ratings team rates DU PONT (E I) DE NEMOURS as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate DU PONT (E I) DE NEMOURS (DD) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, increase in net income, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• Compared to where it was a year ago today, the stock is now trading at a higher level, reflecting both the market's overall trend during that period and the fact that the company's earnings growth has been robust. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
• DU PONT (E I) DE NEMOURS reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, DU PONT (E I) DE NEMOURS increased its bottom line by earning $3.89 versus $3.04 in the prior year. This year, the market expects an improvement in earnings ($4.11 versus $3.89).
• The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Chemicals industry. The net income increased by 269.2% when compared to the same quarter one year prior, rising from $185.00 million to $683.00 million.
• The debt-to-equity ratio is somewhat low, currently at 0.80, and is less than that of the industry average, implying that there has been a relatively successful effort in the management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.03, which illustrates the ability to avoid short-term cash problems.
• You can view the full analysis from the report here: DD Ratings Report