DuPont de Nemours (NYSE:DD) Sets New 1-Year High After Analyst Upgrade

DuPont de Nemours, Inc. (NYSE:DD) shares hit a new 52-week high during trading on Wednesday after UBS Group raised their price target on the stock to $44.00. UBS Group currently has a buy rating on the stock. DuPont de Nemours traded as high as $39.65 and last traded at $39.2610, with a volume of 4913214 shares trading hands. The stock had previously closed at $37.76.

Several other research firms have also recently weighed in on DD. KeyCorp reduced their price objective on DuPont de Nemours from $93.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday. Wolfe Research reduced their price target on DuPont de Nemours from $89.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. BMO Capital Markets decreased their price target on shares of DuPont de Nemours from $104.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday. Mizuho boosted their price objective on shares of DuPont de Nemours from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of DuPont de Nemours in a research report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.75.

Insider Transactions at DuPont de Nemours

In other DuPont de Nemours news, SVP Steven P. Larrabee sold 43,208 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $77.17, for a total value of $3,334,361.36. Following the completion of the sale, the senior vice president owned 38,585 shares in the company, valued at $2,977,604.45. This trade represents a 52.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 74,208 shares of company stock worth $5,714,861 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of DuPont de Nemours

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in DuPont de Nemours by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 50,867,267 shares of the basic materials company’s stock valued at $3,962,560,000 after acquiring an additional 3,203,044 shares during the period. State Street Corp grew its position in shares of DuPont de Nemours by 4.8% in the second quarter. State Street Corp now owns 18,363,975 shares of the basic materials company’s stock valued at $1,259,585,000 after purchasing an additional 842,852 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of DuPont de Nemours by 4.8% during the second quarter. Geode Capital Management LLC now owns 10,782,760 shares of the basic materials company’s stock worth $736,487,000 after purchasing an additional 496,691 shares during the period. Nuveen LLC acquired a new stake in DuPont de Nemours during the 1st quarter worth approximately $531,037,000. Finally, Norges Bank acquired a new stake in DuPont de Nemours during the 2nd quarter worth approximately $313,306,000. Institutional investors and hedge funds own 73.96% of the company’s stock.

DuPont de Nemours Price Performance

The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $74.31 and a 200-day moving average of $71.87. The firm has a market capitalization of $16.64 billion, a P/E ratio of -84.55, a P/E/G ratio of 2.49 and a beta of 1.11.

DuPont de Nemours (NYSE:DD) last posted its earnings results on Monday, July 11th. The basic materials company reported $0.69 earnings per share for the quarter. The company had revenue of $3.02 billion during the quarter. DuPont de Nemours had a positive return on equity of 7.85% and a negative net margin of 1.54%. On average, sell-side analysts predict that DuPont de Nemours, Inc. will post 4.38 EPS for the current year.

DuPont de Nemours Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. DuPont de Nemours’s payout ratio is currently -348.94%.

DuPont de Nemours declared that its Board of Directors has initiated a share buyback program on Thursday, November 6th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the basic materials company to buy up to 12.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

DuPont de Nemours Company Profile

DuPont de Nemours, Inc provides technology-based materials and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through Electronics & Industrial, Water & Protection, and Corporate & Other segments. The Electronics & Industrial segment supplies materials and solutions for the fabrication of semiconductors and integrated circuits.