Wells Fargo & Company Boosts DuPont de Nemours (NYSE:DD) Price Target to $80.00

DuPont de Nemours (NYSE:DD) had its price objective boosted by Wells Fargo & Company from $69.00 to $80.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lifted their target price on DuPont de Nemours from $76.00 to $85.00 and gave the stock an overweight rating in a research report on Friday, March 22nd. StockNews.com raised DuPont de Nemours from a sell rating to a hold rating in a report on Wednesday, February 14th. BMO Capital Markets lowered DuPont de Nemours from an outperform rating to a market perform rating and lowered their price target for the stock from $80.00 to $72.00 in a report on Wednesday, January 24th. Bank of America lowered DuPont de Nemours from a buy rating to an underperform rating and raised their price target for the stock from $78.00 to $80.00 in a report on Tuesday, January 16th. Finally, Citigroup raised their price target on DuPont de Nemours from $73.00 to $80.00 and gave the stock a neutral rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $77.90.

DuPont de Nemours Stock Down 3.2 %

DD opened at $73.80 on Thursday. The business’s 50-day simple moving average is $71.88 and its 200-day simple moving average is $72.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.73 and a current ratio of 2.43. DuPont de Nemours has a one year low of $61.14 and a one year high of $78.74. The stock has a market capitalization of $30.85 billion, a P/E ratio of 79.36, a price-to-earnings-growth ratio of 2.52 and a beta of 1.40.

DuPont de Nemours (NYSE:DD) last posted its earnings results on Tuesday, February 6th. The basic materials company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. DuPont de Nemours had a return on equity of 6.12% and a net margin of 3.51%. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The business’s revenue was down 6.6% compared to the same quarter last year. Analysts anticipate that DuPont de Nemours will post 3.48 EPS for the current year.

DuPont de Nemours Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Wednesday, February 28th. This is a positive change from DuPont de Nemours’s previous quarterly dividend of $0.36. DuPont de Nemours’s payout ratio is currently 163.44%.

Insider Buying and Selling at DuPont de Nemours

In other news, insider Michael G. Goss sold 2,354 shares of DuPont de Nemours stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $72.80, for a total transaction of $171,371.20. Following the completion of the sale, the insider now directly owns 15,587 shares in the company, valued at approximately $1,134,733.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On DuPont de Nemours

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position 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 valued at $3,696,152,000 after acquiring an additional 3,168,740 shares during the period. Moneta Group Investment Advisors LLC raised its position in shares of DuPont de Nemours by 114,597.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,970,989 shares of the basic materials company’s stock worth $821,569,000 after purchasing an additional 11,960,552 shares during the last quarter. Invesco Ltd. raised its position in shares of DuPont de Nemours by 6.7% during the 3rd 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 last quarter. Nuveen Asset Management LLC raised its position in shares of DuPont de Nemours by 3.2% during the 4th quarter. Nuveen Asset Management LLC now owns 8,206,052 shares of the basic materials company’s stock worth $631,292,000 after purchasing an additional 253,227 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of DuPont de Nemours by 6.9% during the 4th quarter. Morgan Stanley now owns 7,696,931 shares of the basic materials company’s stock worth $528,241,000 after purchasing an additional 498,633 shares during the last quarter. 73.96% of the stock is currently owned by institutional investors and hedge funds.

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.