DuPont de Nemours (NYSE:DD) Hits New 52-Week High – Here’s What Happened
by Amy Steele · The Cerbat GemDuPont de Nemours, Inc. (NYSE:DD – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.99 and last traded at $42.0250, with a volume of 1631587 shares trading hands. The stock had previously closed at $40.87.
Analyst Ratings Changes
DD has been the topic of several research reports. Mizuho raised their price objective on shares of DuPont de Nemours from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Wells Fargo & Company cut their price objective on DuPont de Nemours from $100.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 7th. KeyCorp dropped their target price on DuPont de Nemours from $93.00 to $44.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Citigroup increased their price target on shares of DuPont de Nemours from $38.90 to $47.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Zacks Research downgraded shares of DuPont de Nemours from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.69.
Check Out Our Latest Report on DuPont de Nemours
DuPont de Nemours Trading Up 2.9%
The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.63 and a current ratio of 2.00. The firm has a 50-day moving average of $39.33 and a 200-day moving average of $34.24. The firm has a market capitalization of $17.61 billion, a P/E ratio of -22.85, a price-to-earnings-growth ratio of 3.03 and a beta of 1.08.
DuPont de Nemours (NYSE:DD – Get Free Report) last released its quarterly earnings data on Monday, July 11th. The basic materials company reported $0.29 earnings per share for the quarter. DuPont de Nemours had a positive return on equity of 7.81% and a negative net margin of 6.17%.The firm had revenue of $3.02 billion during the quarter. On average, equities research analysts anticipate that DuPont de Nemours, Inc. will post 4.38 EPS for the current fiscal year.
DuPont de Nemours Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.80 annualized dividend and a yield of 1.9%. DuPont de Nemours’s dividend payout ratio is presently -43.48%.
DuPont de Nemours announced that its Board of Directors has initiated a share repurchase program on Thursday, November 6th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 12.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
Insider Activity
In other DuPont de Nemours news, CEO Lori Koch sold 9,011 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $39.46, for a total transaction of $355,574.06. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Erik T. Hoover sold 6,005 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $39.79, for a total value of $238,938.95. Following the completion of the sale, the senior vice president owned 112,101 shares of the company’s stock, valued at approximately $4,460,498.79. This trade represents a 5.08% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.61% of the company’s stock.
Hedge Funds Weigh In On DuPont de Nemours
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Princeton Global Asset Management LLC boosted its holdings in shares of 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 valued at $25,000 after buying an additional 143 shares in the last quarter. Salomon & Ludwin LLC increased its stake in DuPont de Nemours by 186.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 318 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 207 shares in the last quarter. Palisade Asset Management LLC bought a new stake in shares of DuPont de Nemours in the 3rd quarter worth $26,000. Imprint Wealth LLC purchased a new position in DuPont de Nemours in the 3rd quarter worth about $27,000. Finally, Financial Life Planners bought a new position in DuPont de Nemours during the third quarter valued at approximately $27,000. Institutional investors own 73.96% of the company’s stock.
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.