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

DuPont de Nemours, Inc. (NYSE:DD)’s stock price 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.

A number of other research analysts have also commented on DD. KeyCorp lowered their price objective on DuPont de Nemours from $93.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday. Zacks Research downgraded shares of DuPont de Nemours from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. JPMorgan Chase & Co. upped their price objective on shares of DuPont de Nemours from $99.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Wolfe Research cut their price target on DuPont de Nemours from $89.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, October 24th. Finally, Royal Bank Of Canada raised their target price on DuPont de Nemours from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Nine equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $73.75.

Insider Buying and Selling at DuPont de Nemours

In related news, SVP Steven P. Larrabee sold 43,208 shares of the company’s 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 represents a 52.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 74,208 shares of company stock valued at $5,714,861 over the last three months. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On DuPont de Nemours

Hedge funds and other institutional investors have recently made changes to their positions in the company. Obermeyer Wealth Partners raised its position in shares of DuPont de Nemours by 73.6% in the 2nd quarter. Obermeyer Wealth Partners now owns 25,159 shares of the basic materials company’s stock worth $1,726,000 after acquiring an additional 10,663 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in DuPont de Nemours by 15.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 756,907 shares of the basic materials company’s stock worth $56,526,000 after purchasing an additional 99,667 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in DuPont de Nemours by 3.4% during the first quarter. Stratos Wealth Partners LTD. now owns 9,582 shares of the basic materials company’s stock valued at $716,000 after buying an additional 311 shares during the period. Brown Advisory Inc. boosted its holdings in shares of DuPont de Nemours by 4.0% during the 1st quarter. Brown Advisory Inc. now owns 306,192 shares of the basic materials company’s stock valued at $22,866,000 after buying an additional 11,789 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of DuPont de Nemours by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 46,894,623 shares of the basic materials company’s stock worth $3,502,090,000 after buying an additional 298,408 shares during the period. 73.96% of the stock is owned by institutional investors.

DuPont de Nemours Stock 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’s 50 day moving average is $74.31 and its 200-day moving average is $71.87. The company has a market capitalization of $16.64 billion, a P/E ratio of -84.55, a price-to-earnings-growth ratio of 2.49 and a beta of 1.11.

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

DuPont de Nemours Cuts Dividend

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

DuPont de Nemours announced that its board has approved a share buyback plan on Thursday, November 6th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 12.2% of its stock through open market purchases. Stock buyback plans are typically 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.