JPMorgan Chase & Co. Raises DuPont de Nemours (NYSE:DD) Price Target to $88.00

DuPont de Nemours (NYSE:DD) had its price target raised by JPMorgan Chase & Co. from $85.00 to $88.00 in a report issued on Thursday morning, Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

Several other analysts have also commented on DD. BMO Capital Markets lowered DuPont de Nemours from an outperform rating to a market perform rating and decreased their price target for the company from $80.00 to $72.00 in a research note on Wednesday, January 24th. Barclays upped their price objective on shares of DuPont de Nemours from $70.00 to $81.00 and gave the company an equal weight rating in a research report on Thursday. Citigroup boosted their target price on DuPont de Nemours from $73.00 to $80.00 and gave the company a neutral rating in a research note on Wednesday, April 10th. Royal Bank of Canada lifted their price objective on DuPont de Nemours from $75.00 to $83.00 and gave the company an outperform rating in a report on Wednesday, February 7th. Finally, TheStreet cut DuPont de Nemours from a b- rating to a c rating in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $80.00.

DuPont de Nemours Trading Down 0.1 %

Shares of DD stock opened at $77.67 on Thursday. DuPont de Nemours has a 1 year low of $61.14 and a 1 year high of $79.19. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $32.47 billion, a P/E ratio of 94.72, a price-to-earnings-growth ratio of 2.26 and a beta of 1.39. The firm’s fifty day simple moving average is $73.93 and its 200 day simple moving average is $72.08.

DuPont de Nemours (NYSE:DD) last posted its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.14. DuPont de Nemours had a net margin of 2.75% and a return on equity of 6.07%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the company earned $0.84 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts predict that DuPont de Nemours will post 3.61 EPS for the current year.

DuPont de Nemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a dividend of $0.38 per share. The ex-dividend date is Friday, May 31st. This represents a $1.52 annualized dividend and a yield of 1.96%. DuPont de Nemours’s dividend payout ratio (DPR) is presently 185.37%.

Insider Transactions at DuPont de Nemours

In other news, insider Michael G. Goss sold 2,354 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $72.80, for a total value of $171,371.20. Following the sale, the insider now directly owns 15,587 shares of the company’s stock, valued at approximately $1,134,733.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On DuPont de Nemours

Several institutional investors and hedge funds have recently modified their holdings of DD. Vanguard Group Inc. boosted its holdings in shares of DuPont de Nemours by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 48,045,648 shares of the basic materials company’s stock worth $3,696,152,000 after buying an additional 3,168,740 shares during the period. Invesco Ltd. increased its stake in shares of DuPont de Nemours by 6.7% during the third quarter. Invesco Ltd. now owns 10,119,827 shares of the basic materials company’s stock worth $754,838,000 after purchasing an additional 639,246 shares during the period. Northern Trust Corp lifted its holdings in DuPont de Nemours by 2.0% during the 3rd quarter. Northern Trust Corp now owns 5,245,939 shares of the basic materials company’s stock worth $391,295,000 after purchasing an additional 104,141 shares during the last quarter. Putnam Investments LLC boosted its stake in DuPont de Nemours by 3.2% in the 4th quarter. Putnam Investments LLC now owns 5,196,730 shares of the basic materials company’s stock valued at $399,784,000 after purchasing an additional 159,438 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in DuPont de Nemours by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,602,213 shares of the basic materials company’s stock worth $200,192,000 after buying an additional 101,203 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

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.