DuPont de Nemours (NYSE:DD) Sets New 52-Week High Following Dividend Announcement

DuPont de Nemours, Inc. (NYSE:DD) shares reached a new 52-week high during trading on Wednesday following a dividend announcement from the company. The company traded as high as $66.19 and last traded at $66.02, with a volume of 2703336 shares traded. The stock had previously closed at $65.85.

The newly announced dividend which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Friday, May 30th. DuPont de Nemours’s payout ratio is currently 98.20%.

Wall Street Analysts Forecast Growth

DD has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of DuPont de Nemours from $101.00 to $76.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. StockNews.com downgraded DuPont de Nemours from a “buy” rating to a “hold” rating in a report on Friday, February 28th. KeyCorp raised shares of DuPont de Nemours from a “sector weight” rating to an “overweight” rating and set a $81.00 price target for the company in a research report on Monday, April 14th. Wolfe Research raised DuPont de Nemours from a “peer perform” rating to an “outperform” rating and set a $91.00 price target on the stock in a report on Friday, January 17th. Finally, Wells Fargo & Company decreased their target price on DuPont de Nemours from $105.00 to $81.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, DuPont de Nemours has a consensus rating of “Moderate Buy” and a consensus price target of $85.79.

DuPont de Nemours Stock Performance

The company has a current ratio of 1.33, a quick ratio of 0.88 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $70.42 and its two-hundred day moving average is $76.98. The company has a market cap of $27.63 billion, a PE ratio of 39.53, a PEG ratio of 2.15 and a beta of 1.25.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings data on Tuesday, February 11th. The basic materials company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.15. DuPont de Nemours had a net margin of 5.47% and a return on equity of 7.12%. On average, equities research analysts anticipate that DuPont de Nemours, Inc. will post 4.38 EPS for the current year.

Institutional Trading of DuPont de Nemours

Several hedge funds have recently modified their holdings of DD. Choreo LLC raised its holdings in DuPont de Nemours by 23.4% during the 4th quarter. Choreo LLC now owns 43,307 shares of the basic materials company’s stock valued at $3,296,000 after buying an additional 8,205 shares during the period. Merit Financial Group LLC grew its holdings in DuPont de Nemours by 36.4% during the 4th quarter. Merit Financial Group LLC now owns 18,496 shares of the basic materials company’s stock worth $1,410,000 after acquiring an additional 4,939 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in DuPont de Nemours during the fourth quarter worth $1,343,000. Grandfield & Dodd LLC grew its stake in DuPont de Nemours by 72.0% in the fourth quarter. Grandfield & Dodd LLC now owns 7,538 shares of the basic materials company’s stock valued at $575,000 after purchasing an additional 3,155 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in DuPont de Nemours by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,868,586 shares of the basic materials company’s stock valued at $218,730,000 after acquiring an additional 91,108 shares during the last quarter. 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.