DuPont de Nemours (NYSE:DD) Sets New 12-Month High Following Analyst Upgrade

DuPont de Nemours, Inc. (NYSE:DDGet Free Report)’s stock price reached a new 52-week high on Thursday after Mizuho raised their price target on the stock from $83.00 to $100.00. Mizuho currently has a buy rating on the stock. DuPont de Nemours traded as high as $80.46 and last traded at $78.63, with a volume of 3498459 shares changing hands. The stock had previously closed at $78.55.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets cut shares of DuPont de Nemours from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $80.00 to $72.00 in a research note on Wednesday, January 24th. Wolfe Research assumed coverage on DuPont de Nemours in a report on Friday, March 1st. They set a “peer perform” rating on the stock. Barclays raised their price target on DuPont de Nemours from $70.00 to $81.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. TheStreet downgraded DuPont de Nemours from a “b-” rating to a “c” rating in a research report on Tuesday, February 6th. Finally, Wells Fargo & Company raised their price objective on DuPont de Nemours from $69.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, DuPont de Nemours presently has an average rating of “Hold” and a consensus target price of $83.80.

Get Our Latest Stock Report on DD

Insider Buying and Selling

In related news, insider Michael G. Goss sold 1,339 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $78.33, for a total value of $104,883.87. Following the completion of the transaction, the insider now directly owns 14,012 shares of the company’s stock, valued at approximately $1,097,559.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other DuPont de Nemours news, insider Michael G. Goss sold 2,354 shares of DuPont de Nemours stock in a transaction 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 owns 15,587 shares of the company’s stock, valued at approximately $1,134,733.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael G. Goss sold 1,339 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $78.33, for a total transaction of $104,883.87. Following the completion of the sale, the insider now directly owns 14,012 shares in the company, valued at $1,097,559.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,193 shares of company stock worth $1,726,655. 0.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DuPont de Nemours

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew 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 valued at $3,696,152,000 after purchasing an additional 3,168,740 shares during the last quarter. Norges Bank purchased a new position in shares of DuPont de Nemours in the fourth quarter worth approximately $111,980,000. Jacobs Levy Equity Management Inc. lifted its holdings in DuPont de Nemours by 403.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,421,685 shares of the basic materials company’s stock valued at $109,001,000 after purchasing an additional 1,139,156 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of DuPont de Nemours by 6.7% in the third quarter. Invesco Ltd. now owns 10,119,827 shares of the basic materials company’s stock worth $754,838,000 after buying an additional 639,246 shares in the last quarter. Finally, Great Lakes Advisors LLC increased its position in DuPont de Nemours by 156.6% in the fourth quarter. Great Lakes Advisors LLC now owns 737,964 shares of the basic materials company’s stock worth $56,772,000 after purchasing an additional 450,422 shares during the last quarter. Institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Price Performance

The stock’s 50-day simple moving average is $76.07 and its two-hundred day simple moving average is $72.74. The firm has a market cap of $32.98 billion, a P/E ratio of 95.82, a PEG ratio of 2.29 and a beta of 1.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.33 and a quick ratio of 1.61.

DuPont de Nemours (NYSE:DDGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.79 EPS 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 business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter last year, the company earned $0.84 EPS. The business’s revenue was down 2.9% on a year-over-year basis. Equities research analysts forecast that DuPont de Nemours, Inc. will post 3.64 earnings per share for the current fiscal year.

DuPont de Nemours Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, May 31st. DuPont de Nemours’s dividend payout ratio is presently 185.37%.

About DuPont de Nemours

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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.

Further Reading

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