Wells Fargo & Company Forecasts Strong Price Appreciation for DuPont de Nemours (NYSE:DD) Stock

DuPont de Nemours (NYSE:DD) had its price target lifted by Wells Fargo & Company from $105.00 to $107.00 in a report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the basic materials company’s stock.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of DuPont de Nemours from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Barclays upped their price objective on DuPont de Nemours from $84.00 to $85.00 and gave the stock an “underweight” rating in a research note on Wednesday. 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. Citigroup dropped their target price on shares of DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Finally, Morgan Stanley lifted their price target on shares of DuPont de Nemours from $88.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.25.

DuPont de Nemours Stock Performance

Shares of DuPont de Nemours stock traded up $1.36 during trading on Wednesday, hitting $85.69. 452,396 shares of the company’s stock traded hands, compared to its average volume of 2,493,614. The business has a 50-day simple moving average of $84.25 and a 200-day simple moving average of $81.12. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 1.44. The stock has a market capitalization of $35.79 billion, a P/E ratio of 55.48, a PEG ratio of 2.16 and a beta of 1.35. DuPont de Nemours has a 1 year low of $61.14 and a 1 year high of $90.06.

DuPont de Nemours (NYSE:DD) last issued its earnings results on Tuesday, November 5th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.15. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.20 billion. DuPont de Nemours had a net margin of 5.30% and a return on equity of 6.31%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $0.92 earnings per share. As a group, analysts forecast that DuPont de Nemours will post 3.76 EPS for the current year.

DuPont de Nemours Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, November 29th. DuPont de Nemours’s dividend payout ratio is currently 100.00%.

Institutional Trading of DuPont de Nemours

Large investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its position in shares of DuPont de Nemours by 236.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,612 shares of the basic materials company’s stock worth $3,269,000 after buying an additional 28,553 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of DuPont de Nemours by 9.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 598,483 shares of the basic materials company’s stock valued at $42,953,000 after purchasing an additional 53,694 shares in the last quarter. Canandaigua National Bank & Trust Co. purchased a new stake in shares of DuPont de Nemours in the 2nd quarter worth approximately $1,610,000. Cetera Investment Advisers boosted its stake in shares of DuPont de Nemours by 186.5% during the first quarter. Cetera Investment Advisers now owns 87,364 shares of the basic materials company’s stock valued at $6,698,000 after purchasing an additional 56,870 shares in the last quarter. Finally, Appian Way Asset Management LP purchased a new position in DuPont de Nemours during the second quarter valued at approximately $2,978,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.

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.