Argus Cuts DuPont de Nemours (NYSE:DD) Price Target to $52.00

DuPont de Nemours (NYSE:DD) had its target price trimmed by Argus from $86.00 to $52.00 in a research note released on Thursday,MarketScreener reports. The firm currently has a buy rating on the basic materials company’s stock.

A number of other analysts have also issued reports on DD. Zacks Research raised DuPont de Nemours from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. BMO Capital Markets lowered their price objective on DuPont de Nemours from $104.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Royal Bank Of Canada upped their target price on DuPont de Nemours from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. UBS Group increased their target price on DuPont de Nemours from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Finally, Citigroup lifted their price target on shares of DuPont de Nemours from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, DuPont de Nemours presently has an average rating of “Moderate Buy” and an average price target of $46.42.

DuPont de Nemours Trading Up 2.4%

NYSE DD opened at $46.76 on Thursday. The stock has a market cap of $19.59 billion, a P/E ratio of -25.41, a PEG ratio of 3.46 and a beta of 1.10. The company’s fifty day simple moving average is $42.33 and its 200-day simple moving average is $36.62. The company has a current ratio of 2.00, a quick ratio of 1.63 and a debt-to-equity ratio of 0.30. DuPont de Nemours has a 52 week low of $22.50 and a 52 week high of $48.03.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings results on Thursday, November 6th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.05. DuPont de Nemours had a negative net margin of 6.17% and a positive return on equity of 7.81%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the firm posted $1.18 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Equities research analysts predict that DuPont de Nemours will post 4.38 EPS for the current fiscal year.

DuPont de Nemours declared that its board has initiated a share buyback program on Thursday, November 6th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 12.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, CEO Lori Koch sold 9,011 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $39.46, for a total transaction 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 $11,377,343.96. This represents a 3.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Erik T. Hoover sold 6,005 shares of the stock in a transaction dated 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 trade represents a 5.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.61% of the company’s stock.

Institutional Trading of DuPont de Nemours

Institutional investors and hedge funds have recently made changes to their positions in the stock. Princeton Global Asset Management LLC grew its stake in DuPont de Nemours by 64.4% during the 2nd 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. Salomon & Ludwin LLC boosted its holdings in shares of DuPont de Nemours by 186.5% during the third quarter. Salomon & Ludwin LLC now owns 318 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 207 shares during the period. Palisade Asset Management LLC bought a new position in shares of DuPont de Nemours during the third quarter worth about $26,000. Financial Life Planners acquired a new stake in shares of DuPont de Nemours in the 3rd quarter worth about $27,000. Finally, Imprint Wealth LLC acquired a new stake in shares of DuPont de Nemours in the 3rd quarter worth about $27,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

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.