DuPont de Nemours (NYSE:DD) Hits New 1-Year High Following Analyst Upgrade

DuPont de Nemours, Inc. (NYSE:DD)’s share price hit a new 52-week high during trading on Thursday after Wells Fargo & Company upgraded the stock from an equal weight rating to an overweight rating. Wells Fargo & Company now has a $103.00 price target on the stock, up from their previous price target of $80.00. DuPont de Nemours traded as high as $80.46 and last traded at $78.63, with a volume of 3498459 shares changing hands. The stock had previously closed at $78.55.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets upgraded shares of DuPont de Nemours from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $83.00 to $96.00 in a research report on Thursday. TheStreet lowered shares of DuPont de Nemours from a “b-” rating to a “c” rating in a research report on Tuesday, February 6th. Barclays boosted their target price on shares of DuPont de Nemours from $70.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Mizuho boosted their target price on shares of DuPont de Nemours from $83.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wolfe Research started coverage on shares of DuPont de Nemours in a research report on Friday, March 1st. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $88.50.

Insider Buying and Selling

In related news, insider Michael G. Goss sold 1,339 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $78.33, for a total transaction of $104,883.87. Following the completion of the sale, the insider now owns 14,012 shares of the company’s stock, valued at approximately $1,097,559.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other DuPont de Nemours news, insider Michael G. Goss sold 1,339 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $78.33, for a total value of $104,883.87. Following the completion of the transaction, the insider now owns 14,012 shares in the company, valued at approximately $1,097,559.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Leland Weaver sold 18,500 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $78.40, for a total value of $1,450,400.00. Following the completion of the transaction, the insider now owns 24,476 shares of the company’s stock, valued at approximately $1,918,918.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,193 shares of company stock valued at $1,726,655. 0.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On DuPont de Nemours

Several institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Advisors LLC boosted its stake in shares of DuPont de Nemours by 16.5% during the 1st quarter. Cetera Advisors LLC now owns 24,066 shares of the basic materials company’s stock valued at $1,845,000 after buying an additional 3,409 shares during the last quarter. Cetera Investment Advisers lifted its stake in DuPont de Nemours by 186.5% during the first quarter. Cetera Investment Advisers now owns 87,364 shares of the basic materials company’s stock worth $6,698,000 after purchasing an additional 56,870 shares during the last quarter. PGGM Investments lifted its stake in DuPont de Nemours by 5.3% during the first quarter. PGGM Investments now owns 16,488 shares of the basic materials company’s stock worth $1,264,000 after purchasing an additional 828 shares during the last quarter. Swedbank AB bought a new position in DuPont de Nemours during the first quarter worth $24,403,000. Finally, LRI Investments LLC bought a new position in DuPont de Nemours during the first quarter worth $154,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

DuPont de Nemours Price Performance

The company has a 50 day moving average of $76.32 and a 200-day moving average of $72.86. The stock has a market capitalization of $33.91 billion, a P/E ratio of 98.92, a PEG ratio of 2.26 and a beta of 1.39. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.32.

DuPont de Nemours (NYSE:DD) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.14. DuPont de Nemours had a return on equity of 6.07% and a net margin of 2.75%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the company earned $0.84 earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts predict that DuPont de Nemours, Inc. will post 3.64 EPS for the current year.

DuPont de Nemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Friday, May 31st. DuPont de Nemours’s dividend payout ratio (DPR) is 185.37%.

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.