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

DuPont de Nemours, Inc. (NYSE:DD)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $39.65 and last traded at $39.2610, with a volume of 4913214 shares. The stock had previously closed at $37.76.

Analysts Set New Price Targets

Several research firms recently commented on DD. JPMorgan Chase & Co. increased their target price on shares of DuPont de Nemours from $99.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Royal Bank Of Canada raised their price target on DuPont de Nemours from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Zacks Research cut shares of DuPont de Nemours from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of DuPont de Nemours in a report on Wednesday, October 8th. Finally, Wells Fargo & Company raised their price target on shares of DuPont de Nemours from $81.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $80.83.

DuPont de Nemours Stock Performance

The business’s fifty day simple moving average is $76.60 and its 200-day simple moving average is $72.47. The company has a market capitalization of $16.44 billion, a P/E ratio of -83.46, a P/E/G ratio of 2.49 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 1.41.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Monday, July 11th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter. DuPont de Nemours had a positive return on equity of 7.85% and a negative net margin of 1.54%.The business had revenue of $3.02 billion during the quarter. As a group, equities analysts anticipate that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current fiscal year.

Insider Buying and Selling at DuPont de Nemours

In other DuPont de Nemours news, SVP Steven P. Larrabee sold 43,208 shares of DuPont de Nemours stock in a transaction on Monday, September 15th. The shares were sold at an average price of $77.17, for a total value of $3,334,361.36. Following the completion of the transaction, the senior vice president owned 38,585 shares of the company’s stock, valued at approximately $2,977,604.45. The trade was a 52.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 74,208 shares of company stock worth $5,714,861. 0.61% of the stock is owned by insiders.

Institutional Trading of DuPont de Nemours

Hedge funds have recently made changes to their positions in the company. Nuveen LLC purchased a new position in shares of DuPont de Nemours during the first quarter worth $531,037,000. Norges Bank purchased a new position in DuPont de Nemours in the second quarter worth approximately $313,306,000. Ilex Capital Partners UK LLP lifted its position in shares of DuPont de Nemours by 175.8% during the 2nd quarter. Ilex Capital Partners UK LLP now owns 2,043,299 shares of the basic materials company’s stock worth $140,150,000 after purchasing an additional 1,302,341 shares during the last quarter. AQR Capital Management LLC lifted its holdings in DuPont de Nemours by 139.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,791,511 shares of the basic materials company’s stock worth $122,486,000 after buying an additional 1,042,929 shares during the last quarter. Finally, Holocene Advisors LP lifted its position in shares of DuPont de Nemours by 70.5% during the 2nd quarter. Holocene Advisors LP now owns 2,398,287 shares of the basic materials company’s stock worth $164,499,000 after buying an additional 991,985 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

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.