Barclays Forecasts Strong Price Appreciation for DuPont de Nemours (NYSE:DD) Stock

DuPont de Nemours (NYSE:DD - Free Report) had its price objective increased by Barclays from $84.00 to $85.00 in a report published on Wednesday morning, Benzinga reports. Barclays currently has an underweight rating on the basic materials company's stock.

A number of other brokerages have also issued reports on DD. Citigroup cut their price target on DuPont de Nemours from $95.00 to $94.00 and set a "buy" rating for the company in a research note on Friday, July 12th. Morgan Stanley lifted their target price on DuPont de Nemours from $88.00 to $94.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft upped their price target on DuPont de Nemours from $92.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada lifted their price objective on shares of DuPont de Nemours from $87.00 to $102.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, DuPont de Nemours currently has a consensus rating of "Moderate Buy" and an average price target of $95.25.

DuPont de Nemours Stock Performance

DuPont de Nemours stock traded down $1.34 during trading on Wednesday, reaching $84.33. The company had a trading volume of 3,652,959 shares, compared to its average volume of 2,503,107. The firm's 50-day simple moving average is $84.22 and its 200 day simple moving average is $81.09. DuPont de Nemours has a 52 week low of $61.14 and a 52 week high of $90.06. The company has a current ratio of 2.21, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $35.22 billion, a price-to-earnings ratio of 56.15, a price-to-earnings-growth ratio of 2.18 and a beta of 1.35.

DuPont de Nemours (NYSE:DD - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.15. The firm had revenue of $3.19 billion for the quarter, compared to analysts' expectations of $3.20 billion. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The business's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS. Sell-side analysts forecast that DuPont de Nemours will post 3.76 earnings per share for the current fiscal year.

DuPont de Nemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.38 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 1.80%. DuPont de Nemours's dividend payout ratio is presently 100.00%.

Hedge Funds Weigh In On DuPont de Nemours

A number of large investors have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. lifted its position in shares of DuPont de Nemours by 403.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,421,685 shares of the basic materials company's stock worth $109,001,000 after purchasing an additional 1,139,156 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in DuPont de Nemours in the 2nd quarter valued at about $83,540,000. Renaissance Technologies LLC purchased a new stake in DuPont de Nemours in the 2nd quarter valued at about $67,665,000. Ceredex Value Advisors LLC grew its stake in DuPont de Nemours by 95.0% in the 2nd quarter. Ceredex Value Advisors LLC now owns 1,165,164 shares of the basic materials company's stock worth $93,784,000 after acquiring an additional 567,732 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of DuPont de Nemours by 34.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,542,045 shares of the basic materials company's stock worth $118,229,000 after acquiring an additional 391,400 shares during the period. 73.96% of the stock is owned by hedge funds and other institutional investors.

DuPont de Nemours Company Profile

DuPont de Nemours, Inc provides technology-based materials and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through Electronics & Industrial, Water & Protection, and Corporate & Other segments. The Electronics & Industrial segment supplies materials and solutions for the fabrication of semiconductors and integrated circuits.