DowDuPont's (DWDP) CEO Ed Breen is putting his money where his mouth is. 

Breen purchased 29,580 more shares of DowDuPont at $67.61 according to a new regulatory filing Wednesday. The purchases increased Breen's ownership to 364,232 shares. 

Judging by DowDuPont's second quarter results, Breen may be proven right for buying a chunk of stock. Shares have fallen 3.6% year to date, perhaps an unwarranted move.

DowDuPont said adjusted non-GAAP earnings for the three months ending in June rose 41% to $1.37 per share, topping the consensus forecast of $1.30. Net sales, the company said, rose 17% to $24.2 billion, with volumes and local price gains recorded across all of its divisions and regions. The group said it sees third quarter sales rising 10% and operating earnings rising 12% even as it cited "discrete" headwinds related to currency movements and higher raw materials costs.

"Volume growth, local price gains and operating margin expansion were the key highlights, reflecting a clear focus from the businesses on execution," said Breen. "Our new product launches are resonating with customers, resulting in strong demand across each of our targeted end-markets. These are indicators that our three divisions are making a difference in the marketplace and for shareholders."

"We have great momentum and our employees are enthusiastic about the future of our intended industry-leading companies," he added.

Jim Cramer Says

"Overall, it was a very solid quarter for the company. While the earnings outlook is tempering excitement, we believe that three months of now that guidance may prove conservative due to the synchronized growth across the company's end markets and the robust synergy targets. Furthermore, with the Form 10s quickly approaching, we reiterate that the company's label that it is in a "boring period" is coming to a close. Once that overhang is lifted, we think the stock will be able to break out of it the trading range it has become victim to because investors will embrace the company's above market comp performance, operating margin expansion, and the stock's cheap valuation."

DowDuPont is a key holding in Jim Cramer's Action Alerts PLUS member club. 

-Martin Baccardax contributed to this story.

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