DuPont de Nemours (NYSE:DD) Reaches New 12-Month High After Analyst Upgrade

DuPont de Nemours, Inc. (NYSE:DD)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $47.00 to $50.00. Citigroup currently has a buy rating on the stock. DuPont de Nemours traded as high as $45.88 and last traded at $45.5690, with a volume of 1122889 shares traded. The stock had previously closed at $44.43.

A number of other research firms have also recently weighed in on DD. UBS Group upped their target price on shares of DuPont de Nemours from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Mizuho lifted their price objective on DuPont de Nemours from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Morgan Stanley lowered their price objective on DuPont de Nemours from $80.00 to $44.00 in a research note on Monday, November 10th. JPMorgan Chase & Co. raised their target price on DuPont de Nemours from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Finally, Wolfe Research boosted their price target on DuPont de Nemours from $44.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.99.

Insiders Place Their Bets

In other news, 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 transaction of $238,938.95. Following the sale, the senior vice president owned 112,101 shares in the company, valued at approximately $4,460,498.79. This represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lori Koch sold 9,011 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $39.46, for a total value of $355,574.06. Following the completion of the sale, the chief executive officer owned 288,326 shares of the company’s stock, valued at approximately $11,377,343.96. This trade represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On DuPont de Nemours

Institutional investors and hedge funds have recently made changes to their positions in the company. Salomon & Ludwin LLC increased its position in DuPont de Nemours by 186.5% in the third quarter. Salomon & Ludwin LLC now owns 318 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 207 shares during the period. Palisade Asset Management LLC bought a new position in shares of DuPont de Nemours in the 3rd quarter valued at about $26,000. Financial Life Planners bought a new position in shares of DuPont de Nemours in the 3rd quarter valued at about $27,000. Imprint Wealth LLC acquired a new stake in shares of DuPont de Nemours during the 3rd quarter worth approximately $27,000. Finally, Princeton Global Asset Management LLC raised its stake in shares of DuPont de Nemours by 64.4% during the second quarter. Princeton Global Asset Management LLC now owns 365 shares of the basic materials company’s stock worth $25,000 after buying an additional 143 shares during the last quarter. Institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Stock Performance

The stock’s 50 day moving average is $42.07 and its two-hundred day moving average is $36.42. The firm has a market capitalization of $20.03 billion, a P/E ratio of -25.98, a P/E/G ratio of 3.36 and a beta of 1.10. 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 released its earnings results on Thursday, November 6th. The basic materials company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.05. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.12 billion. DuPont de Nemours had a negative net margin of 6.17% and a positive return on equity of 7.81%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.18 EPS. As a group, equities analysts anticipate that DuPont de Nemours, Inc. will post 4.38 earnings per share for the current fiscal year.

DuPont de Nemours announced that its board has approved a share repurchase plan on Thursday, November 6th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the basic materials company to buy up to 12.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

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.