DuPont de Nemours (NYSE:DD – Get Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.81-$0.81 for the period, compared to the consensus earnings per share estimate of $1.10. The company issued revenue guidance of $3.17 billion-$3.37 billion, compared to the consensus revenue estimate of $4.17 billion. DuPont de Nemours also updated its FY 2022 guidance to $3.27-$3.43 EPS.
Analyst Ratings Changes
Several brokerages have issued reports on DD. Bank of America dropped their price objective on DuPont de Nemours from $77.00 to $73.00 in a report on Wednesday, July 13th. Wells Fargo & Company dropped their price objective on DuPont de Nemours from $83.00 to $72.00 and set an overweight rating on the stock in a report on Friday, July 8th. Credit Suisse Group dropped their price objective on DuPont de Nemours from $81.00 to $77.00 and set an outperform rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price objective on DuPont de Nemours from $80.00 to $70.00 in a report on Wednesday. Finally, KeyCorp lowered their price target on DuPont de Nemours from $96.00 to $82.00 and set an overweight rating on the stock in a report on Wednesday, July 20th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $80.40.
DuPont de Nemours Stock Performance
NYSE:DD traded up $0.31 during mid-day trading on Friday, reaching $58.88. The stock had a trading volume of 1,936,834 shares, compared to its average volume of 3,013,648. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.38 and a current ratio of 2.55. The firm has a market capitalization of $29.94 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 1.87 and a beta of 1.42. DuPont de Nemours has a twelve month low of $52.56 and a twelve month high of $85.16. The business has a 50 day simple moving average of $59.28 and a 200 day simple moving average of $68.07.
DuPont de Nemours Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, July 29th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, July 28th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.24%. DuPont de Nemours’s payout ratio is 36.26%.
Institutional Investors Weigh In On DuPont de Nemours
A number of hedge funds and other institutional investors have recently modified their holdings of DD. Fairfield Bush & CO. acquired a new stake in shares of DuPont de Nemours during the 1st quarter valued at approximately $50,000. Covestor Ltd raised its position in shares of DuPont de Nemours by 31.2% during the 1st quarter. Covestor Ltd now owns 1,920 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 457 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of DuPont de Nemours during the 1st quarter worth approximately $195,000. Bridgefront Capital LLC acquired a new position in shares of DuPont de Nemours during the 1st quarter worth approximately $206,000. Finally, International Assets Investment Management LLC raised its position in shares of DuPont de Nemours by 21.8% during the 1st quarter. International Assets Investment Management LLC now owns 3,219 shares of the basic materials company’s stock worth $237,000 after purchasing an additional 577 shares during the last quarter. 73.33% 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 three segments: Electronics & Industrial, Mobility & Materials, and Water & Protection. The Electronics & Industrial segment supplies materials and printing systems to the advanced printing industry; and materials and solutions for the fabrication of semiconductors and integrated circuits addressing front-end and back-end of the manufacturing process.
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