Morgan Stanley Cuts DuPont de Nemours (NYSE:DD) Price Target to $80.00

DuPont de Nemours (NYSE:DD) had its price target reduced by Morgan Stanley from $94.00 to $80.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

Several other brokerages also recently commented on DD. Barclays dropped their price objective on shares of DuPont de Nemours from $89.00 to $73.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 29th. Citigroup reduced their price target on DuPont de Nemours from $95.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. StockNews.com lowered shares of DuPont de Nemours from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Wells Fargo & Company lowered their target price on shares of DuPont de Nemours from $105.00 to $81.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Finally, UBS Group dropped their price objective on DuPont de Nemours from $103.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.07.

DuPont de Nemours Stock Performance

DD opened at $64.62 on Monday. The firm has a market cap of $27.04 billion, a P/E ratio of 38.69, a price-to-earnings-growth ratio of 2.15 and a beta of 1.07. The business’s fifty day moving average is $68.83 and its 200-day moving average is $76.30. DuPont de Nemours has a 52-week low of $53.77 and a 52-week high of $90.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 1.33.

DuPont de Nemours (NYSE:DD) last released its earnings results on Friday, May 2nd. The basic materials company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.08. DuPont de Nemours had a return on equity of 7.12% and a net margin of 5.47%. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the prior year, the company earned $0.79 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Sell-side analysts expect that DuPont de Nemours will post 4.38 EPS for the current fiscal year.

DuPont de Nemours Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.54%. The ex-dividend date is Friday, May 30th. DuPont de Nemours’s payout ratio is -863.16%.

Institutional Investors Weigh In On DuPont de Nemours

A number of institutional investors and hedge funds have recently bought and sold shares of DD. Hager Investment Management Services LLC purchased a new position in DuPont de Nemours in the 4th quarter worth $26,000. Aster Capital Management DIFC Ltd increased its stake in DuPont de Nemours by 479.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 365 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 302 shares during the period. Vermillion Wealth Management Inc. purchased a new position in shares of DuPont de Nemours in the fourth quarter worth $28,000. JNBA Financial Advisors boosted its position in DuPont de Nemours by 132.5% during the 1st quarter. JNBA Financial Advisors now owns 379 shares of the basic materials company’s stock valued at $28,000 after buying an additional 216 shares during the period. Finally, Byrne Asset Management LLC bought a new stake in DuPont de Nemours in the 4th quarter worth $29,000. 73.96% of the stock is owned by hedge funds and other institutional investors.

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.