DuPont de Nemours (NYSE:DD) Sets New 1-Year High – Still a Buy?

DuPont de Nemours, Inc. (NYSE:DD) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $159.48 and last traded at $158.08, with a volume of 74,843 shares. The stock had previously closed at $156.88.

Analyst Ratings Changes

Several brokerages have recently weighed in on DD. Weiss Ratings reiterated a “sell (d+)” rating on shares of DuPont de Nemours in a research note on Friday, October 30th. Wells Fargo & Company boosted their target price on shares of DuPont de Nemours from $166.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. UBS Group increased their price objective on shares of DuPont de Nemours from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. Citigroup boosted their price objective on shares of DuPont de Nemours from $162.00 to $176.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Finally, The Goldman Sachs Group dropped their target price on DuPont de Nemours from $159.00 to $153.00 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. Twelve research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $165.88.

DuPont de Nemours Stock Down 0.5%

The business’s fifty day moving average price is $134.92 and its two-hundred day moving average price is $139.27. The company has a current ratio of 2.36, a quick ratio of 1.74 and a debt-to-equity ratio of 0.23. The firm has a market cap of $20.51 billion, a P/E ratio of 69.40, a P/E/G ratio of 1.35 and a beta of 1.06.

DuPont de Nemours (NYSE:DD) last posted its quarterly earnings results on Tuesday, November 3rd. The basic materials company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.22. DuPont de Nemours had a net margin of 4.26% and a return on equity of 6.85%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the business posted $1.09 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts anticipate that DuPont de Nemours, Inc. will post 7.51 EPS for the current year.

DuPont de Nemours Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, November 30th. DuPont de Nemours’s dividend payout ratio is 107.62%.

Insider Buying and Selling at DuPont de Nemours

In other DuPont de Nemours news, SVP Erik T. Hoover sold 4,203 shares of the company’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $150.82, for a total value of $633,896.46. Following the transaction, the senior vice president directly owned 38,798 shares in the company, valued at $5,851,514.36. The trade was a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward D. Breen sold 89,845 shares of DuPont de Nemours stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $146.41, for a total transaction of $13,154,206.45. Following the completion of the sale, the director owned 127,276 shares of the company’s stock, valued at $18,634,479.16. This trade represents a 41.38% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 96,359 shares of company stock worth $14,137,411. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in DuPont de Nemours by 140.3% in the second quarter. State Street Corp now owns 44,941,824 shares of the basic materials company’s stock worth $6,095,909,000 after acquiring an additional 26,238,300 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of DuPont de Nemours by 839.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 39,355 shares of the basic materials company’s stock worth $5,112,000 after purchasing an additional 35,166 shares during the period. Generali Investments Management Co LLC boosted its position in DuPont de Nemours by 3,410.5% during the third quarter. Generali Investments Management Co LLC now owns 11,409 shares of the basic materials company’s stock worth $1,482,000 after purchasing an additional 11,084 shares during the period. Salem Investment Counselors Inc. boosted its stake in DuPont de Nemours by 272.8% in the 3rd quarter. Salem Investment Counselors Inc. now owns 11,042 shares of the basic materials company’s stock worth $1,434,000 after purchasing an additional 8,080 shares during the period. Finally, Vontobel Holding Ltd. bought a new position in DuPont de Nemours in the 3rd quarter worth about $1,902,000. 73.96% of the stock is owned by institutional investors.

About DuPont de Nemours

DuPont de Nemours is a science and materials company that develops products for customers in markets including construction, healthcare, water treatment, transportation and worker safety. Its offerings include protective materials such as Kevlar, Nomex and Tyvek, as well as Corian surface materials and technologies used in water purification and separation. The company traces its roots to 1802, when E. I. du Pont established a gunpowder mill in Delaware. Over time, DuPont expanded into a broad range of chemical and advanced-materials businesses.