DuPont de Nemours (NYSE:DD) Hits New 52-Week High Following Earnings Beat

DuPont de Nemours, Inc. (NYSE:DD)’s stock price reached a new 52-week high on Wednesday following a better than expected earnings announcement. The stock traded as high as $79.19 and last traded at $78.47, with a volume of 814809 shares trading hands. The stock had previously closed at $72.50.

The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.65 by $0.14. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.81 billion. DuPont de Nemours had a net margin of 3.51% and a return on equity of 6.12%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 EPS.

DuPont de Nemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, May 30th. DuPont de Nemours’s dividend payout ratio (DPR) is presently 163.44%.

Analysts Set New Price Targets

DD has been the topic of several analyst reports. Wolfe Research initiated coverage on shares of DuPont de Nemours in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. boosted their price target on shares of DuPont de Nemours from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday. Citigroup boosted their price target on shares of DuPont de Nemours from $73.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. TheStreet lowered shares of DuPont de Nemours from a “b-” rating to a “c” rating in a report on Tuesday, February 6th. Finally, Mizuho upped their target price on shares of DuPont de Nemours from $76.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $80.00.

Insider Buying and Selling at DuPont de Nemours

In other DuPont de Nemours news, insider Michael G. Goss sold 2,354 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $72.80, for a total transaction of $171,371.20. Following the transaction, the insider now directly owns 15,587 shares in the company, valued at approximately $1,134,733.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Institutional Trading of DuPont de Nemours

Hedge funds have recently modified their holdings of the company. Peoples Bank KS acquired a new stake in shares of DuPont de Nemours in the 3rd quarter valued at approximately $25,000. Northwest Financial Advisors acquired a new stake in shares of DuPont de Nemours in the 4th quarter valued at approximately $25,000. Palisade Asset Management LLC acquired a new stake in shares of DuPont de Nemours in the 1st quarter valued at approximately $25,000. LifeSteps Financial Inc. acquired a new stake in shares of DuPont de Nemours in the 1st quarter valued at approximately $28,000. Finally, Byrne Asset Management LLC acquired a new stake in shares of DuPont de Nemours in the 1st quarter valued at approximately $33,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

DuPont de Nemours Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.73 and a current ratio of 2.43. The stock has a market capitalization of $32.50 billion, a price-to-earnings ratio of 83.60, a P/E/G ratio of 2.38 and a beta of 1.39. The firm’s fifty day simple moving average is $73.62 and its 200 day simple moving average is $72.07.

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.