Deutsche Bank Aktiengesellschaft Cuts DuPont de Nemours (NYSE:DD) Price Target to $46.00

DuPont de Nemours (NYSE:DD) had its price objective cut by Deutsche Bank Aktiengesellschaft from $90.00 to $46.00 in a research note issued to investors on Tuesday morning,MarketScreener reports. They currently have a buy rating on the basic materials company’s stock.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets decreased their price objective on shares of DuPont de Nemours from $104.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Morgan Stanley reduced their target price on shares of DuPont de Nemours from $80.00 to $44.00 in a research report on Monday, November 10th. JPMorgan Chase & Co. decreased their price target on shares of DuPont de Nemours from $104.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Wolfe Research dropped their price objective on DuPont de Nemours from $87.00 to $39.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 4th. Finally, Citigroup lifted their target price on DuPont de Nemours from $38.90 to $47.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, DuPont de Nemours currently has an average rating of “Moderate Buy” and an average target price of $42.88.

DuPont de Nemours Trading Up 1.8%

Shares of NYSE DD opened at $39.50 on Tuesday. The business’s 50 day moving average price is $35.26 and its 200-day moving average price is $31.99. DuPont de Nemours has a fifty-two week low of $22.50 and a fifty-two week high of $41.23. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 1.41. The company has a market cap of $16.55 billion, a price-to-earnings ratio of -84.03, a PEG ratio of 2.49 and a beta of 1.11.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings data on Monday, July 11th. The basic materials company reported $0.29 EPS for the quarter. DuPont de Nemours had a positive return on equity of 7.85% and a negative net margin of 1.54%.The company had revenue of $3.02 billion for the quarter. On average, sell-side analysts expect that DuPont de Nemours 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 will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, November 28th. DuPont de Nemours’s payout ratio is presently -43.48%.

DuPont de Nemours declared that its Board of Directors has approved a share buyback program on Thursday, November 6th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the basic materials company to purchase up to 12.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at DuPont de Nemours

In other news, SVP Steven P. Larrabee sold 103,267 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $32.29, for a total value of $3,334,357.49. Following the sale, the senior vice president directly owned 92,218 shares in the company, valued at approximately $2,977,599.61. This trade represents a 52.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 177,357 shares of company stock worth $5,714,857 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On DuPont de Nemours

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of DuPont de Nemours by 6.7% during the third quarter. Vanguard Group Inc. now owns 50,867,267 shares of the basic materials company’s stock worth $3,962,560,000 after purchasing an additional 3,203,044 shares in the last quarter. State Street Corp grew its stake in DuPont de Nemours by 4.8% during the 2nd quarter. State Street Corp now owns 18,363,975 shares of the basic materials company’s stock worth $1,259,585,000 after buying an additional 842,852 shares during the last quarter. Geode Capital Management LLC increased its position in DuPont de Nemours by 4.8% during the 2nd quarter. Geode Capital Management LLC now owns 10,782,760 shares of the basic materials company’s stock valued at $736,487,000 after buying an additional 496,691 shares in the last quarter. Invesco Ltd. raised its stake in DuPont de Nemours by 28.2% in the third quarter. Invesco Ltd. now owns 8,828,110 shares of the basic materials company’s stock valued at $687,710,000 after buying an additional 1,942,589 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in DuPont de Nemours in the first quarter worth about $531,037,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.

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.