DuPont de Nemours (NYSE:DD) Sets New 12-Month High – What’s Next?

DuPont de Nemours, Inc. (NYSE:DD)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $40.40 and last traded at $40.34, with a volume of 5795382 shares trading hands. The stock had previously closed at $39.80.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DD. JPMorgan Chase & Co. increased their target price on DuPont de Nemours from $99.00 to $104.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Zacks Research cut DuPont de Nemours from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. KeyCorp dropped their target price on DuPont de Nemours from $93.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Mizuho upped their price target on shares of DuPont de Nemours from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Finally, Citigroup raised their price target on shares of DuPont de Nemours from $38.90 to $47.00 and gave the stock a “buy” rating in a research report on Friday. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, DuPont de Nemours currently has an average rating of “Moderate Buy” and an average target price of $65.92.

DuPont de Nemours Trading Up 1.4%

The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 1.41. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of -85.83, a price-to-earnings-growth ratio of 2.49 and a beta of 1.11. The firm has a fifty day moving average price of $73.58 and a 200-day moving average price of $71.82.

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

DuPont de Nemours Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.80 annualized dividend and a yield of 2.0%. DuPont de Nemours’s payout ratio is presently -43.48%.

DuPont de Nemours declared that its board has approved a share repurchase program on Thursday, November 6th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the basic materials company to reacquire up to 12.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, SVP Steven P. Larrabee sold 43,208 shares of DuPont de Nemours stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $77.17, for a total transaction of $3,334,361.36. Following the sale, the senior vice president directly 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 74,208 shares of company stock worth $5,714,861. Insiders own 0.61% of the company’s stock.

Institutional Trading of DuPont de Nemours

A number of hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC lifted its stake in shares of DuPont de Nemours by 186.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 318 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 207 shares during the last quarter. Princeton Global Asset Management LLC increased its holdings in DuPont de Nemours by 64.4% in the 2nd quarter. Princeton Global Asset Management LLC now owns 365 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 143 shares in the last quarter. WPG Advisers LLC bought a new position in DuPont de Nemours in the first quarter valued at about $35,000. Crews Bank & Trust raised its position in DuPont de Nemours by 55.8% in the third quarter. Crews Bank & Trust now owns 508 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 182 shares during the last quarter. Finally, Ransom Advisory Ltd bought a new stake in shares of DuPont de Nemours during the first quarter worth about $40,000. Institutional investors and hedge funds own 73.96% of the company’s stock.

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.