Through his hedge fund Trian, US activist investor Nelson Peltz, who has stirred up affairs at a number of other companies, has set his sights on breaking up chemical giant DuPont.

Trian is one of the chemical company's largest shareholders, with a stake estimated to be worth $1.6 billion.

Peltz, who has acknowledge private discussions with the company, said he could "no longer remain silent" as DuPont continues to destroy value through its conglomerate structure.

The hedge fund owner added that the company's share price is 21% lower than its all-time high in 1998, its revenue growth lags its peers and management has lowered or missed its earnings guidance for three consecutive years.

Beyond the already planned separation of the performance chemicals business, Peltz urges DuPont to break into two separate, autonomous businesses. A unit called GrowthCo should include agriculture, nutrition & health and industrial biosciences, while another, CyclicalCo, would encompass performance materials, safety & protection and electronics & communications.

"We believe the Trian initiatives have the potential to double the value of DuPont's stock over the next three years," Peltz said.