DuPont de Nemours (NYSE:DD) Price Target Raised to $176.00

DuPont de Nemours (NYSE:DD) had its price target boosted by Citigroup from $162.00 to $176.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

A number of other analysts have also commented on the stock. UBS Group lowered their target price on shares of DuPont de Nemours from $178.00 to $172.00 and set a “buy” rating for the company in a report on Monday, October 5th. The Goldman Sachs Group cut their price target on DuPont de Nemours from $159.00 to $153.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. Zacks Research lowered DuPont de Nemours from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. JPMorgan Chase & Co. cut DuPont de Nemours from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $172.00 to $145.00 in a research note on Friday, October 9th. Finally, Royal Bank Of Canada dropped their price objective on DuPont de Nemours from $176.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Twelve research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, DuPont de Nemours has a consensus rating of “Moderate Buy” and an average price target of $165.88.

DuPont de Nemours Trading Up 0.9%

Shares of NYSE DD traded up $1.32 during mid-day trading on Wednesday, hitting $146.25. The company’s stock had a trading volume of 975,691 shares, compared to its average volume of 856,064. DuPont de Nemours has a one year low of $111.15 and a one year high of $157.98. The company’s fifty day simple moving average is $133.21 and its 200-day simple moving average is $138.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.43 and a quick ratio of 1.82. The stock has a market cap of $19.75 billion, a price-to-earnings ratio of 65.58, a price-to-earnings-growth ratio of 1.31 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 for the quarter, topping analysts’ consensus estimates of $1.87 by $0.22. DuPont de Nemours had a net margin of 0.67% and a return on equity of 6.92%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. DuPont de Nemours’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that DuPont de Nemours will post 7.51 earnings per share for the current fiscal year.

DuPont de Nemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.6%. DuPont de Nemours’s dividend payout ratio (DPR) is currently 107.62%.

Hedge Funds Weigh In On DuPont de Nemours

Several institutional investors have recently modified their holdings of DD. Allworth Financial LP raised its holdings in DuPont de Nemours by 7.8% during the 3rd quarter. Allworth Financial LP now owns 6,275 shares of the basic materials company’s stock worth $851,000 after buying an additional 455 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of DuPont de Nemours by 12.9% in the third quarter. Fisher Asset Management LLC now owns 3,305 shares of the basic materials company’s stock valued at $429,000 after buying an additional 378 shares during the period. Legacy Trust bought a new stake in shares of DuPont de Nemours during the third quarter worth $4,771,000. Maryland State Retirement & Pension System increased its position in shares of DuPont de Nemours by 16.9% during the third quarter. Maryland State Retirement & Pension System now owns 8,403 shares of the basic materials company’s stock worth $1,091,000 after acquiring an additional 1,213 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its position in shares of DuPont de Nemours by 2.1% during the third quarter. Jacobi Capital Management LLC now owns 7,259 shares of the basic materials company’s stock worth $943,000 after acquiring an additional 149 shares in the last quarter. Institutional investors own 73.96% of the company’s stock.

DuPont de Nemours News Summary

Here are the key news stories impacting DuPont de Nemours this week:

• Positive Sentiment: Several analysts raised their valuation targets while maintaining bullish ratings. UBS lifted its target to $182 from $172 and kept a Buy rating; RBC raised its target to $173 from $160 with an Outperform rating; and Wells Fargo increased its target to $170 from $166 while maintaining Overweight. UBS target and rating RBC target and rating Wells Fargo target
• Positive Sentiment: Additional coverage included a new Buy rating and a higher price target from Citigroup, reinforcing the generally constructive analyst view. New Buy rating Citigroup target increase
• Positive Sentiment: Barclays reiterated its Buy rating. The analyst support follows DuPont’s recent quarterly earnings beat: EPS of $2.09 topped the $1.87 consensus, while revenue also exceeded expectations. Shares were reported to have gapped up after the results. Barclays rating Shares gap up after earnings

About DuPont de Nemours

DuPont de Nemours, Inc is a diversified science and technology company that develops engineered materials and specialty products for industrial and consumer markets. Its offerings are used in applications including electronics, semiconductor manufacturing, water purification, transportation, construction, healthcare, and worker and consumer protection.

The company’s product portfolio has historically included high-performance films, resins, adhesives, engineered polymers, specialty fibers, protective materials, water-treatment membranes, and filtration technologies.