DuPont de Nemours (NYSE:DD) Price Target Lowered to $48.00 at JPMorgan Chase & Co.

DuPont de Nemours (NYSE:DD) had its price objective lowered by JPMorgan Chase & Co. from $104.00 to $48.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 19.26% from the stock’s current price.

A number of other equities research analysts also recently weighed in on DD. KeyCorp lowered their price target on DuPont de Nemours from $93.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Citigroup raised their price target on DuPont de Nemours from $38.90 to $47.00 and gave the company a “buy” rating in a report on Friday, November 7th. Zacks Research cut DuPont de Nemours from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. UBS Group upped their price target on shares of DuPont de Nemours to $44.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada upped their price target on DuPont de Nemours from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, DuPont de Nemours presently has an average rating of “Moderate Buy” and an average price target of $58.25.

DuPont de Nemours Stock Performance

DuPont de Nemours stock traded down $0.35 during mid-day trading on Tuesday, hitting $40.25. 206,426 shares of the company’s stock traded hands, compared to its average volume of 7,202,196. DuPont de Nemours has a fifty-two week low of $22.50 and a fifty-two week high of $41.23. The firm has a 50 day simple moving average of $71.45 and a two-hundred day simple moving average of $71.21. The stock has a market cap of $16.86 billion, a price-to-earnings ratio of -85.48, a P/E/G ratio of 2.49 and a beta of 1.11. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.41 and a quick ratio of 0.94.

DuPont de Nemours (NYSE:DD) last issued its quarterly earnings data 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 for the quarter. DuPont de Nemours had a positive return on equity of 7.85% and a negative net margin of 1.54%. On average, research analysts expect that DuPont de Nemours will post 4.38 EPS for the current fiscal year.

DuPont de Nemours declared that its Board of Directors has approved a share buyback plan on Thursday, November 6th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the basic materials company to purchase up to 12.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at DuPont de Nemours

In other news, SVP Steven P. Larrabee sold 43,208 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $77.17, for a total transaction of $3,334,361.36. Following the completion of the transaction, the senior vice president owned 38,585 shares in the company, valued at approximately $2,977,604.45. This trade represents a 52.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 74,208 shares of company stock valued at $5,714,861 in the last quarter. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DD. Obermeyer Wealth Partners increased its stake in DuPont de Nemours by 73.6% during the second quarter. Obermeyer Wealth Partners now owns 25,159 shares of the basic materials company’s stock valued at $1,726,000 after acquiring an additional 10,663 shares during the period. Prospera Financial Services Inc grew its position in shares of DuPont de Nemours by 19.1% in the 2nd quarter. Prospera Financial Services Inc now owns 94,434 shares of the basic materials company’s stock valued at $6,477,000 after purchasing an additional 15,144 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of DuPont de Nemours by 15.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 756,907 shares of the basic materials company’s stock worth $56,526,000 after acquiring an additional 99,667 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 valued at $3,502,090,000 after buying an additional 298,408 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of DuPont de Nemours during the 1st quarter worth approximately $531,037,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

About DuPont de Nemours

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.