DuPont de Nemours (NYSE:DD) Hits New 52-Week High – Here’s What Happened

DuPont de Nemours, Inc. (NYSE:DD) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $159.48 and last traded at $158.08, with a volume of 74,843 shares traded. The stock had previously closed at $156.88.

Analysts Set New Price Targets

A number of brokerages recently commented on DD. UBS Group increased their price target on DuPont de Nemours from $172.00 to $182.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. Royal Bank Of Canada lifted their price objective on DuPont de Nemours from $160.00 to $173.00 and gave the stock an “outperform” rating in a report on Thursday, November 5th. Zacks Research lowered DuPont de Nemours from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of DuPont de Nemours in a research note on Friday, October 30th. Finally, Barclays increased their target price on DuPont de Nemours from $156.00 to $176.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. Twelve investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $165.88.

DuPont de Nemours Stock Performance

The company has a fifty day moving average of $134.02 and a two-hundred day moving average of $139.05. The stock has a market capitalization of $20.90 billion, a P/E ratio of 70.69, a price-to-earnings-growth ratio of 1.34 and a beta of 1.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.36 and a quick ratio of 1.74.

DuPont de Nemours (NYSE:DD) last released its earnings results on Tuesday, November 3rd. The basic materials company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.22. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.84 billion. DuPont de Nemours had a return on equity of 6.85% and a net margin of 4.26%. DuPont de Nemours’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. On average, equities analysts anticipate that DuPont de Nemours, Inc. will post 7.51 EPS for the current year.

DuPont de Nemours Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, November 30th. DuPont de Nemours’s dividend payout ratio is 107.62%.

Insider Transactions at DuPont de Nemours

In other news, CEO Lori Koch sold 2,311 shares of the firm’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $151.15, for a total value of $349,307.65. Following the transaction, the chief executive officer directly owned 115,715 shares in the company, valued at approximately $17,490,322.25. This trade represents a 1.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Erik Hoover sold 4,203 shares of DuPont de Nemours stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $150.82, for a total transaction of $633,896.46. Following the completion of the transaction, the senior vice president directly owned 38,798 shares of the company’s stock, valued at $5,851,514.36. This trade represents a 9.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 96,359 shares of company stock worth $14,137,411. 0.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DuPont de Nemours

Several institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its position in DuPont de Nemours by 140.3% during the 2nd quarter. State Street Corp now owns 44,941,824 shares of the basic materials company’s stock valued at $6,095,909,000 after purchasing an additional 26,238,300 shares during the period. Bank of America Corp DE increased its position in DuPont de Nemours by 22.0% in the first quarter. Bank of America Corp DE now owns 4,629,671 shares of the basic materials company’s stock worth $212,039,000 after buying an additional 835,572 shares during the period. Bank of New York Mellon Corp lifted its stake in DuPont de Nemours by 10.0% in the first quarter. Bank of New York Mellon Corp now owns 3,706,596 shares of the basic materials company’s stock valued at $169,762,000 after buying an additional 336,780 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in DuPont de Nemours by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,509,831 shares of the basic materials company’s stock valued at $160,688,000 after buying an additional 163,210 shares during the last quarter. Finally, Amundi boosted its holdings in shares of DuPont de Nemours by 31.3% during the first quarter. Amundi now owns 2,478,630 shares of the basic materials company’s stock valued at $113,526,000 after acquiring an additional 591,011 shares during the period. 73.96% of the stock is owned by institutional investors.

DuPont de Nemours Company Profile

DuPont de Nemours is a science and materials company that develops products for customers in markets including construction, healthcare, water treatment, transportation and worker safety. Its offerings include protective materials such as Kevlar, Nomex and Tyvek, as well as Corian surface materials and technologies used in water purification and separation. The company traces its roots to 1802, when E. I. du Pont established a gunpowder mill in Delaware. Over time, DuPont expanded into a broad range of chemical and advanced-materials businesses.