DuPont de Nemours (NYSE:DD) Sets New 1-Year High – Here’s What Happened

Shares of DuPont de Nemours, Inc. (NYSE:DD) hit a new 52-week high during trading on Monday . The company traded as high as $41.99 and last traded at $42.0250, with a volume of 1631587 shares traded. The stock had previously closed at $40.87.

Analysts Set New Price Targets

Several equities research analysts have issued reports on DD shares. Morgan Stanley lowered their price target on shares of DuPont de Nemours from $80.00 to $44.00 in a research note on Monday, November 10th. Weiss Ratings restated a “sell (d+)” rating on shares of DuPont de Nemours in a report on Monday, December 22nd. Wells Fargo & Company dropped their target price on DuPont de Nemours from $100.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Zacks Research cut DuPont de Nemours from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. lowered their price target on DuPont de Nemours from $104.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.07.

DuPont de Nemours Stock Performance

The company has a market capitalization of $18.11 billion, a price-to-earnings ratio of -23.50, a PEG ratio of 3.22 and a beta of 1.08. The stock has a 50-day moving average price of $39.85 and a 200-day moving average price of $34.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.00 and a quick ratio of 1.63.

DuPont de Nemours (NYSE:DD) last posted its earnings results on Monday, July 11th. The basic materials company reported $0.29 earnings per share for the quarter. DuPont de Nemours had a positive return on equity of 7.81% and a negative net margin of 6.17%.The business had revenue of $3.02 billion for the quarter. As a group, analysts forecast that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current year.

DuPont de Nemours Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, November 28th. DuPont de Nemours’s dividend payout ratio is currently -43.48%.

DuPont de Nemours declared that its Board of Directors has authorized a share buyback program on Thursday, November 6th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the basic materials company to buy up to 12.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at DuPont de Nemours

In other DuPont de Nemours news, CEO Lori Koch sold 9,011 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $39.46, for a total value of $355,574.06. Following the transaction, the chief executive officer directly owned 288,326 shares of the company’s stock, valued at $11,377,343.96. This represents a 3.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Erik T. Hoover sold 6,005 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $39.79, for a total value of $238,938.95. Following the transaction, the senior vice president owned 112,101 shares in the company, valued at $4,460,498.79. The trade was a 5.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DD. Obermeyer Wealth Partners grew its stake in shares of DuPont de Nemours by 73.6% in the 2nd quarter. Obermeyer Wealth Partners now owns 25,159 shares of the basic materials company’s stock worth $1,726,000 after acquiring an additional 10,663 shares in the last quarter. KLP Kapitalforvaltning AS lifted its position in shares of DuPont de Nemours by 3.4% during the second quarter. KLP Kapitalforvaltning AS now owns 157,376 shares of the basic materials company’s stock valued at $10,794,000 after purchasing an additional 5,200 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in DuPont de Nemours by 19.1% during the second quarter. Prospera Financial Services Inc now owns 94,434 shares of the basic materials company’s stock worth $6,477,000 after purchasing an additional 15,144 shares during the last quarter. Drummond Knight Asset Management Pty Ltd grew its position in DuPont de Nemours by 107.9% in the 2nd quarter. Drummond Knight Asset Management Pty Ltd now owns 704,489 shares of the basic materials company’s stock worth $48,321,000 after purchasing an additional 365,619 shares in the last quarter. Finally, KBC Group NV grew its position in DuPont de Nemours by 10.4% in the 2nd quarter. KBC Group NV now owns 81,254 shares of the basic materials company’s stock worth $5,573,000 after purchasing an additional 7,684 shares in the last quarter. Institutional investors own 73.96% of the company’s stock.

About DuPont de Nemours

DuPont de Nemours (NYSE: DD) is a global science and engineering company that develops and supplies specialty materials, chemicals and industrial biosciences for a wide range of markets. Headquartered in Wilmington, Delaware, the company traces its origins to 1802 and has evolved through more than two centuries of innovation. In recent history DuPont participated in a major combination with Dow Chemical and subsequent reorganization that refocused the company on differentiated, specialty businesses built around science-based solutions.

DuPont’s operations center on advanced materials and technologies used by manufacturers and OEMs in industries such as transportation, electronics, construction, industrial manufacturing and worker safety.